• book

From the Publisher

When three Boston securities executives pooled their money together in 1924 to create the first mutual fund, they had no idea how popular mutual funds would become. The idea of pooling money together for investing purposes started in Europe in the mid-1800s. The first pooled fund in the U.S. was created in 1893 for the faculty and staff of Harvard University. On March 21st, 1924 the first official mutual fund was born. It was called the Massachusetts Investors Trust.

After one year, the Massachusetts Investors Trust grew from $50,000 in assets in 1924 to $392,000 in assets (with around 200 shareholders). In contrast, there are over 10,000  mutual funds in the U.S. today totaling around $7 trillion (with approximately 83 million individual investors) according to the Investment Company Institute.

Published: May on
ISBN: 9781386474258
List price: $9.99
Read on Scribd mobile: iPhone, iPad and Android.
Availability for Benefits Of Investing In Mutual Funds
With a 30 day free trial you can read online for free
  1. This book can be read on up to 6 mobile devices.

Related Articles

Bloomberg Businessweek
4 min read

Trying to Make Active Funds Cool Again

Rachel Evans and Annie Massa • Will investors flock to new funds that look more like ETFs? • “Active ETFs unnecessarily blur the lines” Daniel McCabe, chief executive officer of Precidian Investments, is trying to create a new kind of fund, one he thinks will help active money managers survive the unrelenting rise of exchange-traded funds. It’s been an uphill battle. With $10 trillion in assets in the U.S., actively managed mutual funds are big business, but they’re losing market share. For years investor money has been flowing into ETFs, most of which passively replicate market indexes. I
11 min read

The Right Robot For Your Money

Never heard of a “robo-adviser”? You’re not alone. Fewer than half of investors recognize the term, according to a recent poll by Gallup and Wells Fargo. And only 5% of investors say they’ve used one. But robo-advisers—computer algorithms that invest your money for you—have evolved in a way that could make them a key player in your financial future. First-generation robos, which started to arrive a half-dozen years ago, are adding new features. Well-known names in financial services are launching new automated investment managers. And that gives you a wider selection of robo-advisers to choose
4 min read

Pick The Right Target

SANDY FRANCIS IS LIVING PROOF that investing for retirement needn’t be complex. The co-owner of Colorado-based Veda Salon & Spa says set-it-and-forget-it target-date funds are the cornerstone of his firm’s 401(k) plan. He and most of his 180 employees use these retirement accounts to put their planning on automatic pilot. “They have an appropriate mix of investments, they’re automatically rebalanced, and they’re low cost,” Francis says. “If you choose that kind of fund, you don’t have to worry about anything.” Over the past decade, target-date funds have taken the retirement-planning world b