Mutual Funds are professionally managed investment scheme, in which fund managers manage the investment made by the investors. A mutual fund is administered under an advisory contract with a management company, which gives full detail about the schemes going on currently. Mutual funds are subject to a special set of regulatory, accounting, and tax rules. These may be shares in very small or bankrupt companies or they may be private investments in unregistered financial instruments.
Mutual Funds are of two types open-ended and closed-ended. An Open-ended Mutual Fund is one that is available for subscription and repurchase in continuous manner. These Mutual Funds do not have a fixed maturity period. Whereas, Close-ended Mutual Funds have wide period for getting matured about 5-7 years. The fund is open for subscription only during a specified period at the time of launch of the scheme.
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