ThirdAge Investment Glossary |
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Index fund
Mutual fund that invests in the securities of a particular stock market index. Although a relatively recent investment vehicle, index funds now range from those based on key indexes like the New York Stock Exchange Index or the S&P 500, to highly specialized indexes that follow one or more categories of bonds, various foreign stocks, precious metals, etc. Index funds tend to require less active portfolio management; as a result, in some cases their expenses are lower than those of other mutual funds.
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