In this chapter we examine the three main types of mutual funds, open end funds, closed end funds and exchange traded funds. After a description of each of these organizational forms, we discuss the principle research issues for each type. For open end mutual funds, this includes performance...

There is a vast literature which shows that investors don't make rational decisions in allocating resources among both different types of investments and different individual investments. Target risk funds and target date funds are two types of mutual funds that make the asset allocation...