mutual fund
nounUK /ˈmjuːtʃuəl fʌnd/
US /ˈmjuːtʃuəl fʌnd/
A mutual fund is a big pool of money from many people that a manager uses to buy lots of stocks and bonds.
My parents put some money into a mutual fund to save for my college.
OTHER MEANINGS
2. A type of investment company that pools money from shareholders to invest in a diversified portfolio.
The mutual fund invests in over a hundred different companies.
3. An open-ended fund that continuously issues and redeems shares at net asset value.
She bought shares of the mutual fund at the end of the trading day.
4. A financial product often chosen for retirement accounts because of its diversification.
His retirement account is mostly made up of mutual funds.