Definition
A fund that pools money from many investors and invests it, priced once a day at the end of trading.
The story
When you buy into a mutual fund, your order fills at that day's closing value per share, called the net asset value (NAV). Many retirement plans offer mutual funds. Some are run by managers who pick investments; others simply track an index.
Why markets watch it
They're how millions of people invest through workplace retirement plans.
Connects to
We explain why it moves markets. What you do with it is your call. Commentary and education only. Not financial advice. All terms