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Volume :15 Issue : 1 1987      Add To Cart                                                                    Download

Mutual Funds: Development and Management

Auther : Hesse Al-Bahar

Mutual Funds (closed-ended) were first introduced in Britain as long ago as 1930. The concept was improved in the U.S.A with the development of “open-ended) mutual funds.

Mutual Funds are directed particularly at the investor with small sums at his disposal. This is because they enable investors to spread their risks by purchasing an a portfolio of securities.

Mutual Funds issue units that represent holdings of shares. They are run by managers who are obliged to sell and buy back units freely at prices related to the current value of underlying securities. If sales exceed repurchases the portfolio expands, hence the name “open-ended”.

The original idea of mutual funds was  to encourage small investors to amalgamate their money, but now some countries such as India, Singapore and Hong Kong use them to solve their monetary problems.

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