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...A pooled diversification professional money managers combines the funds of many people with similar investment goals receive shares stock in mutual fund therefore you common an indirect b attractions and drawbacks ownership full time management modest capital services offered automatic reinvestment dividends withdrawal plans c exchange privileges d check writing convenience easy to acquire paperwork record keeping prices are widely quoted lack liquidity normally must be sold back no brokerage commissions consistently average below performance essential characteristics open end investors buy sell itself there is limit on number can issue net asset value nav defined as total market all securities held by less liabilities divided outstanding example xyz owns assets totaling m equal share...