"Define mutual fund. State how does the mutual fund industry play a role in financial market?"

Can some one provide the details of the Mutual Fund concept. Also Determine the role of Mutual Fund Industry in Financial Market?
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"A Mutual Fund is a trust that pools the savings of a number of investors who share a common financial goal. The money thus collected is then invested in capital market instruments such as shares, debentures and other securities. By subscribing to mutual fund schemes, the investors are supposed to get the benefit of diversification thus reduction in risk involved. Mutual fund industry play the following role in financial market and economic growth. · Channelization of Household Savings · Augmenting Resource Mobilization in the Primary Market · Substantiating Small Investors’ Investment Avenues · Providing Liquidity Facility (entry and exit options) to Investors · Contributing to Growth in GDP. Source:"
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"Any mutual fund company is a term skillfully was able group expenditure car or truck that will warm income through a lot of people to purchase sec. "
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