Also called a unit trust, it's an entity that invests the money of a pool of people in various securities
It 
also ensures that the fund is invested according to its investment objectives and 
that... [DOC] [TLE] Mutual Funds: A Guide for Investors - Securities and Exchange ... [PAR] A mutual fund is a company that pools money from many investors and invests 
the money in stocks, bonds, short-term money-market instru- ments, other ... Unit 
Investment Trusts (UITs)which make a one-time public offering of only a 
specific, fixed .... market funds, bond funds (also called fixed income funds), and 
stock.