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A mutual fund is a professionally-managed investment scheme, usually run by an asset management company that brings together a group of people and invests their money in stocks, bonds and other securities.
There are a variety of reasons that mutual funds have been the retail investor's vehicle of choice for decades. The overwhelming majority of money in employer-sponsored retirement plans goes into mutual funds. Multiple mergers have equated to mutual funds over time.
Equity Fund
Fixed Income Funds
Index Funds
Balance/Hybrid Funds
Money Market Funds
Income Funds
International/Global Funds
Specialty Funds
Exchange Traded Funds (ETFs)