A mutual fund is created by which one of the following parties?

Question

Quizplus · Accepted Answer

A mutual fund is created by an investment advisory firm, which is responsible for managing the fund's portfolio and implementing its investment strategy. The fund's board of directors provides oversight and guidance, but does not create the fund. The SEC regulates and monitors mutual funds, but does not create them. Shareholders of a mutual fund purchase shares in the fund, but do not create it. Discount brokers facilitate the purchase and sale of mutual fund shares, but do not create the fund.

A Mutual Fund Is Created by Which One of the Following