Beginner
What you own when you buy a mutual fund
A mutual fund pools investors' money into one portfolio. Your shares give you an economic interest in that portfolio, while its mandate determines what the manager...
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Mutual Funds Investment Guide
Understand how mutual funds work, compare their costs and risks, and build a disciplined investment process. Follow eight stages from pooled ownership to portfolio construction and ongoing research.
Start with What you own when you buy a mutual fund, then follow the next lesson links. Explore 32 lessons with worked examples, exercises and further reading.
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Mutual Fund Foundations · All lessons
Mutual Fund Foundations
Understand pooled ownership, pricing, subscriptions and distributions.
Beginner
How NAV prices purchases and redemptions
Net asset value, or NAV, is the value of a fund's assets minus its liabilities, divided by shares outstanding. It provides a dealing price, not a...
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Beginner
Buying, selling and settlement without surprises
A mutual fund transaction has several stages: eligibility, order acceptance, pricing and settlement. Checking each stage helps avoid buying the wrong share class or expecting cash...
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Beginner
Distributions, reinvestment and total return
A distribution moves value from a fund to its investors. Reinvestment buys additional shares, but neither a large payout nor a rising share count proves that...
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