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Offer document
The offer document or prospectus is a legal document that
contains important information about a fund's investment goals,
sales charges, expenses and risks. Its purpose is to provide
investors with the information they need to make an informed
decision about investing in the fund. An abridged offer document
accompanies the application form of every fund.
Offering price
The price at which mutual fund shares are offered for sale
to the public, also known as the public offering price. The
public offering price represents the net asset value plus
any applicable initial sales charges.
Open-end fund
A mutual fund that does not have
a fixed number of shares (as does a
closed-end fund.) The mutual
fund will offer as many shares as investors are willing to
buy. Most mutual funds are open-ended unless otherwise noted.
Operating expenses
The day-to-day costs and expenses necessary to run a company,
such as the maintenance of office equipment.
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