Mutual funds have been around for a long time (the first one in this country started in 1924), but they have exploded in popularity during the last two decades. One of the most carefully regulated investments available, mutual funds have earned the trust of both individual and institutional investors.

They are frequently used by individuals in retirement planning via IRAs and 401(k) plans as well as for other purposes.

Investing in a mutual fund offers many advantages. First, funds tend to be less risky than individual stock or bond investing; by pooling money with other investors, individuals achieve greater diversification. Second, funds provide individuals with access to professional management. Each investor in the mutual fund's portfolio owns an undivided interest in the portfolio.  

All investors in the open-end fund are mutual participants; no one investor has a preferred status over any other investor. In other words, mutual funds issue only one class of common share; no preferred class of shares or debt can be issued.

Each investor shares mutually with other investors in gains anddistribution derived from the investment company portfolio.

Each investor's share in the performance of the fund's portfolio is based solely on the number of shares owned. These shares may be purchased in either full or fractional units, unlike corporate stock, which may be purchased in full units only. Because mutual funds shares can be fractional, the investor can think in terms of dollars rather than number of shares owned.

We have carefully chosen several families of mutual funds which we believe to offer the best investment alternatives.