The creation of the Massachusetts Investors' Trust in Boston, Massachusetts in 1924 is heralded as the first modern mutual fund. Assets of the fund grew from $50,000 to $392,000 when it went public in 1928. By 1929, there were nearly 750 mutual funds in operation. Today, there are more than 10,000 mutual funds with holdings measured in the trillions of dollars.
More Famous Firsts
More Famous Firsts
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