nment agency in charge of regulating mutual
             Generally, mutual funds continuously offer new shares to the public.
             They also are required legally to buy back outstanding shares at the
             shareholder's request. When you sell shares in a fund, you receive a
             check based on its share's price or net asset value (less any sales
             charges, if applicable). The net asset value is obtained when the fund
             figures the value of its investments, less liabilities, divided by the number
             of shares outstanding at the end of the day.
             Technobabble: The investment advisor is an organization hired by the
             mutual fund company to manage a mutual fund's investments. A
             portfolio manager is the professional who actually manages the fund.
             The investment objective describes what your mutual fund hopes to
             accomplish. Assets represent any investment that the mutual fund
             holds, including stocks, bonds, and cash reserves. A mutual fund share
             is a unit of ownership in the fund. A mutual fund investor who owns
             shares is called a shareholder and has voting rights.
             Introducing: The Cast of a Mutual Fund
             Like any company, the mutual fund management company is an
             organization with a number of people that run the show. You want to
             understand how this company works because you've entrusted it with
             your hard-earned cash. Although mutual funds are set up under state
             ...