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.
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