Guide Note:

Mutual Funds are professionally managed investment funds, which invest in stocks, bonds and other financial instruments. Mutual funds are considered "investment companies," or a corporation, business trust, partnership, or limited liability company that issues securities and is primarily engaged in the business of investing in securities.

Fast Facts:

1. Mutual funds consists of a pool of investors that place money in various financial instruments
2. To invest in a mutual fund you must purchase shares from the fund itself, you can't buy shares from secondary markets like the NASDAQ or the NYSE
3. To sell shares you must sell it back to the fund
4. Mutual funds charge a management fee
5. Mutual funds are regulated under the Investment Company Act of 1940

• Wasatch Micro Cap, 25% increase
• Kinetics Internet, 23% increase
• Bjurman, Barry Micro-Cap Growth, 23% increase
• Bridgeway Ultra-Small Company, 23% increase
• FMI Focus, 21% increase