Definition of "mutual fund" [mutual fund]

• An investment company that continually offers new shares and buys existing shares back at the request of the shareholder and uses its capital to invest in diversified securities of other companies. (noun)

American Heritage(R) Dictionary of the English Language, Fifth Edition. Copyright (c) 2011 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

• "Appreciables include a home with a mortgage, margined mutual fund shares, rental real estate, and a leveraged business or IRA."
• "For one study, he focused on investors in the famed Fidelity Magellan fund, which during a certain ten-year period was the best performing mutual fund on the planet."
• "And when I quit my job at the mutual fund I bought The New Yorker Book of Poems—the big yellow book—and I discovered Snodgrass, Kunitz, Nemerov, and Moss."