STD - 10 ALL SUBJECT IMP MODEL PAPER BY ROYAL SCHOOL DHORAJI

STD - 10 ALL SUBJECT IMP MODEL PAPERBY ROYAL SCHOOL DHORAJI

Mutual funds were introduced to the United States in the 1890s. Early U.S. funds were generally closed-end funds with a fixed number of shares that often traded at prices above the portfolio  The first open-end mutual fund with redeemable shares was established on March 21, 1924 as the Massachusetts Investors Trust. (It is still in existence today and is now managed

the taxable income is passed through to the investors in the fund. Funds are required by the IRS to diversify their investments, limit ownership of voting securities, distribute most of their income (dividends, interest, and capital gains net of losses) to their investors annually, and earn most of the income by investing in securities and currencies

The characterization of a fund's income is unchanged when it is paid to shareholders. For example, when a mutual fund distributes dividend income to its shareholders, fund investors will report the distribution as dividend income on their tax return.


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