dc.description.abstract | nvestment fund is financial institution with specialization to long-term investments into shares, bonds and money market instruments. Their capital is formed from sha res. Originally, the aim of investment funds was to consult investors, but in our days these funds act as finance intermediaries. They attract financial resources of individu al and legal persons and invest them into shares, bonds, currencies and other means foreseen in fund regulations. At present investment rands are serous banks' competi tors as it is cheaper for customer to use services of financial intermediary that distri butes its costs among many other investors. Investment funds provide more opportu nities of long-term financing and short term profitable investments for enterprises. Beside that, enterprises may learn from experience of fund management specialists, use better information provision and exchange opportunities. Investment funds are classified by certain criteria: operational structure (open and closed ones); organizational structure (corporation funds, trust companies, contract funds); fund structure ("umbrella" type); distribution of earnings (periodical payments from earnings, reinvestment of earnings), investment policy (income, balancing bet ween growth and income, growth of investments), capitalization of invested enterpri ses (high capitalization; small capitalization; medium-sized capitalization), type of in vestments (real estate, money market, shares, mixed funds, investing into other funds). | eng |