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Originally posted by Newt
well ok then Mr. Know It All (buy on iTunes) why don't you impart your ever-flowing knowledge  |
Ok then
I can only speak for Mexico though. A mutual fund is when multiple persons and/or companies gather their money to purchase assets (stocks for example) for a fee. There are different types of mutual funds: if you want a long-term investment with high returns but risky you'd want to invest in a variable fee fund. If you want smaller returns but less risky then you'd invest in a fixed fee fund. If you want the smallest returns but also the smallest risk then you'd invest in a short term fund.
Most funds require a minimum of at least $1000-$1500 so if you don't have that amount don't even bother.
My main advice would be not to invest in a fund based on its historical performance. Usually when a fund has been performing exceptionally well for a long time, then it means it's about to start performing bad. This isn't always the case though.
As for WHERE to go, in Mexico you'd get in touch with one of the major banks or a "casa de inversion" (don't know the english term for this)
Feel free to ask more questions if you wish
