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This 3 page paper is basic research about mutual funds. Bibliography lists 7 sources.
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3 pages (~225 words per page)
File: D0_HVMuFund.rtf
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(Woodward, 2007). The first "pooled fund" in the United States was "created in 1893 for the faculty and staff of Harvard University" (Woodward, 2007). The first "official mutual fund" in
the country was called the Massachusetts Investors Trust and it was created March 21, 1924 (Woodward, 2007). At the end of the first year, the MIT had increased its assets
from approximately $50,000 to $392,000 (Woodward, 2007). The 1929 crash not only slowed the growth of such funds, it also proved an incentive for Congress to pass the "Securities Act
of 1933" and the "Securities Exchange Act of 1934" (Woodward, 2007). These Acts "require that a fund be registered with the SEC and provide prospective investors with a prospectus" (Woodward,
2007). In 1940, the SEC "helped create the Investment Company Act," which set the guidelines that still govern mutual funds (Woodward, 2007). Today, there are more than "10,000 mutual funds
in the U.S." with assets of approximately $7 trillion (Woodward, 2007). As the U.S. pulled out of the Depression and WWII ended, mutual funds again became popular, and there were
approximately 270 funds with assets of $48 billion by the late 1960s (Woodward, 2007). The first "retail index fund" was called the "First Index Investment Trust" and was opened in
1976 by John C. Bogle (Woodward, 2007). Its now called the "Vanguard 500 Index Fund" and it is the largest mutual fund in existence, with over "$100 billion in assets"
(Woodward, 2007). As to the history and performance of individual funds, thats a little more difficult to find. Its been impossible to find a handy general source that lists
the funds and when they were created; instead, searches bring up web sites for all the various funds written and managed by the funds themselves. The best way to approach
...