A:

Mutual funds were first introduced in the United States by MFS Investment Management in 1924. Although not public until 1928, the MFS Massachusetts Investors Fund provided a way for select investors to pool their money together. The idea behind creating this investment was to allow a group of small investors access to a range of stocks and fund managers that would otherwise have been out of their price range.

Oldest Mutual Funds By Inception Date (Still Active)

Rank Name Date of Creation
1 MFS Massachusetts Investors Fund (MITTX) 1924
2 Putnam Investors Fund (PINVX) 1925
3 Pioneer Fund (PIODX) 1928
4 Century Shares Fund (CENSX) 1928
5 Vanguard Wellington Fund (VWELX) 1929
7 CGM Mutual Fund (LOMMX) 1929
6 Seligman Common Stock Fund (SCSFX) 1930
8 Fidelity Fund (FFIDX) 1930
9 Dodge & Cox Balance Fund (DODBX) 1931


Finding mutual funds according to the inception date is only one way to sort through the thousands of mutual funds available. Additional sorting options include: rating, one-year returns, five-year returns, risk and investment style, among others. Some good resources for mutual fund research on set criteria include Morningstar and Yahoo! Finance. Look for a screening tool in the mutual fund section and select the characteristics you are looking for. You may need a subscription to gain access to more advanced screening tools.

To learn more, read A Brief History Of The Mutual Fund.

RELATED FAQS
  1. How do I calculate the loan-to-value ratio using Excel?

    Learn what a mutual fund and a money market fund are, and understand the differences between each and how they serve various ... Read Answer >>
  2. How do I judge a mutual fund's performance?

    Evaluate mutual fund performance utilizing resources such as Morningstar; compare the fund with others in its peer group ... Read Answer >>
  3. How do you find out the price of a mutual fund?

    The easiest way to find out the price of a mutual fund is to look at its net asset value (NAV). NAV is the total value of ... Read Answer >>
Related Articles
  1. Retirement

    Top 5 MFS Funds for Retirement Diversification

    Discover the five best MFS funds for retirement savings diversification. Learn why America's first mutual fund is still a great investment.
  2. Financial Advisor

    4 Funds Managed by MFS Investment Management

    Discover the top four mutual funds managed by MFS Investment Management that have long track records of returns and long tenured management.
  3. Investing

    Mutual Fund Basics Tutorial

    Learn about the basics - and the pitfalls - of investing in mutual funds.
  4. Financial Advisor

    A Mutual Funds Guide for Young Investors

    Learn how mutual funds work, why they are so popular and how younger investors can get started by putting mutual funds in their IRAs or 401(k)s.
  5. Financial Advisor

    Advising FAs: Explaining Mutual Funds to a Client

    More than 80 million people, or half of the households in America, invest in mutual funds. No matter what type of investor you are, there is bound to be a mutual fund that fits your style.
  6. Investing

    What You Need to Know About Mutual Funds

    Mutual funds are a good investment opportunity, but investors should know how they operate.
  7. Investing

    A Brief History Of The Mutual Fund

    This popular investment vehicle has seen its share of ups and downs, successes and scandals. Read all about it!
  8. Financial Advisor

    How to Rate Your Mutual Fund Manager

    What to really look for when you're deciding on a mutual fund.
  9. Financial Advisor

    MFS Investment Management: Investment Manager Highlight (SLF)

    Learn about MFS Investment Management, its investment process, investment teams, star portfolio managers and the investment products it offers.
RELATED TERMS
  1. Pooled Funds

    Funds from many individual investors that are aggregated for ...
  2. Investment Fund

    A supply of capital belonging to numerous investors that is used ...
  3. Family Of Funds

    A group of mutual funds offered by one investment or fund company. ...
  4. Exchange-Traded Mutual Funds

    Investopedia explains the definition of exchange-traded mutual ...
  5. Mutual Fund Custodian

    A trust company, bank or similar financial institution responsible ...
  6. Closed Fund

    A mutual fund that has been closed - either temporarily or permanently ...
Hot Definitions
  1. Straddle

    An options strategy in which the investor holds a position in both a call and put with the same strike price and expiration ...
  2. Trickle-Down Theory

    An economic idea which states that decreasing marginal and capital gains tax rates - especially for corporations, investors ...
  3. North American Free Trade Agreement - NAFTA

    A regulation implemented on Jan. 1, 1994, that eventually eliminated tariffs to encourage economic activity between the United ...
  4. Agency Theory

    A supposition that explains the relationship between principals and agents in business. Agency theory is concerned with resolving ...
  5. Treasury Bill - T-Bill

    A short-term debt obligation backed by the U.S. government with a maturity of less than one year. T-bills are sold in denominations ...
  6. Index

    A statistical measure of change in an economy or a securities market. In the case of financial markets, an index is a hypothetical ...
Trading Center