Investment company
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An investment company generally is a corporation, business trust, partnership, or limited liability company that issues securities and is primarily engaged in the business of investing in securities. An investor shares in the profits and losses in proportion to their interest in the investment company.[1]
Federal securities laws categorize investment companies into mutual funds, closed-end funds and unit investment trusts (UTIs).[2] Investment companies are regulated primarily under the Investment Company Act of 1940.
References
- ↑ Investment Companies. U.S. Securities Exchange Commission. Retrieved on May 12, 2008.
- ↑ Frequently Asked Questions and Background Information. Investment Company Institute. Retrieved on May 12, 2008.
