Since the literature claimed that the objective of the mutual fund is to be a single source investment for most equity investors, then, it would most likely be describing a short-term investment
Basically, the mutual fund is classified as a short-term investment because of its duration.
Since the literature claims mutual fund is a single source investment for most equity investors, it hows that it is a short-term investment because the fund are usually purchased for less than say 3 years.
In conclusion, the literature would most likely be describing the mutual-fund as a short-term investment
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