 | Chapter Overview
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After studying this chapter you should be able to:- Cite advantages and disadvantages of investing with an investment company rather than buying securities directly.
- Contrast open-end mutual funds with closed-end funds and unit investment trusts.
- Define net asset value and measure the rate of return on a mutual fund.
- Classify mutual funds according to investment style.
- Demonstrate the impact of expenses and turnover on mutual fund investment performance.
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