Answer / shinder
A MUTUAL FUND is a financial service organisation that
receives money, invest the same, earns returns on it,
attempts to make it grow and agrees to pay the shareholder
cash on demand for the current value of his investment.
TYPES OF MUTUAL FUNDS
1. according to ownership (a) public sector mutual funds
(b) private sector mutual funds
2.according to portfolio
(a) income funds
(b) growth funds
(c) stock/equity funds
(d) bond funds
(e) specialised funds
(f) leverage funds
3. according to location
(a) domestic funds (b) off-shore(foreign) funds
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