The document that describes important information about a mutual fund to investors. The prospectus contains information required by securities regulations, such as investment objectives and policies, risks, services and fees. A fund's prospectus should always be read carefully before investing.

An abbreviated and simplified prospectus distributed by mutual fundsto purchasers and potential purchasers of units or shares (see prospectus).

A document that must be distributed to each new mutual fund investor. The simplified prospectus contains pertinent information such as the stated investment objective of the fund, the fees and commissions payable, and purchase/redemption options.