| Mutual Fund |
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An
investment tool that allows small investors access to a well diversified
portfolio of equities, bonds, and other securities. Each shareholder
participates in the gain or loss of the fund. Shares are issued and
can be redeemed as needed. The fund's net asset value (NAV) is determined
each day. Each mutual fund portfolio is invested to match the objective
stated in the prospectus.
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In
1998, ten mutual fund experts were asked by USA Today to pick two
mutual funds for the year. None were able to pick a fund that beat
the market. Studies show that picking mutual funds on the basis of
past performance usually does not work. |
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Dictionary
