Investment strategies that allow you to pool your money with other investors to purchase a collection of stocks or other securities that would be difficult to replicate independently. This collection is known as a portfolio. The price of a mutual fund (or the Net Asset Value) is determined by the total value of the securities in the portfolio divided by the number of outstanding shares the fund has. Of note, investors in a mutual fund do not actually own the securities within the fund. They own shares of the fund itself.