short on mutual fund for 10 marks
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A mutual fund is a professionally managed investment fund that pools money from many investors to purchase securities . These investors may be retail or institutional in nature .
Mutual funds have advantages and disadvantages compared to direct investing in individual securities .
The primary advantages of mutual funds are that they provide economies of scale , a higher level of diversification , they provide liquidity , and they are managed by professional investors .
On the negative side , investors in a mutual fund must pay various fees and expenses....
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