MF
A mutual fund (MF) is an open-end investment company registered with the U.S. Securities and Exchange Commission (SEC) that aggregates capital from multiple investors to acquire a portfolio of securities, including stocks, bonds, and short-term debt instruments, with shares redeemable at net asset value.[1] These funds provide retail investors with professional management, diversification across asset classes, and daily liquidity through end-of-day pricing, enabling participation in markets that might otherwise require substantial individual capital.[2] While mutual funds have facilitated widespread access to equity and fixed-income markets since their modern inception in the 1920s, empirical analyses consistently demonstrate that the majority of actively managed funds underperform relevant passive benchmarks over extended periods, primarily due to management fees and trading costs eroding net returns.[3] Controversies surrounding mutual funds often center on high expense ratios, sales loads, and incentive structures that prioritize asset gathering over performance, prompting regulatory scrutiny and a shift toward lower-cost index funds among discerning investors.[4]Language and Slang
Motherfucker
"Motherfucker" is a highly vulgar English-language slang term functioning primarily as a noun to describe a person, derived from the literal accusation of incestuous relations with one's mother, which violates a fundamental kinship taboo in most human societies. The word combines "mother," from Old English mōdor rooted in Proto-Germanic mōdēr, with "fucker," an agent noun from the verb "fuck" attested since the 16th century as a term for sexual intercourse, often with connotations of aggression or disdain.[5] As an intensifier, it amplifies insults by invoking extreme moral transgression, though its literal interpretation is rarely intended in contemporary usage.[6] The earliest documented uses of "motherfucker" appear in African American sources from the early 20th century, including a 1918 prison ballad lyric ("If you don’t wanna go to jail, / Don’t fuck your mother in her tail") and a 1926 blues song ("You’re a lyin’ motherfucker"), indicating origins in incarcerated or working-class Black communities rather than formal literature.[7] A folk etymology linking the term to American slavery—positing it as a reference to white slave masters raping enslaved women's mothers—circulates widely but lacks substantiation in historical records, with no attested pre-20th-century examples supporting this narrative; empirical evidence points instead to post-emancipation oral traditions in blues and prison folklore.[8] Initially employed as a severe pejorative for deceit or villainy, the term's semantic shift began in the mid-20th century within jazz subcultures, where it denoted respect for a musician's resilience or prowess, as in beatnik slang for a "tough" individual.[7] By the 1970s, "motherfucker" permeated broader American English through blaxploitation cinema and emerging hip-hop, evolving into a versatile expletive capable of expressing camaraderie, emphasis, or bravado among in-groups, such as "badass motherfucker" (BAMF) for a formidable person.[9] This dual valence—insult versus endearment—reflects contextual pragmatics in African American Vernacular English (AAVE), where intonation and relationship determine offensiveness; academic sociolinguistic studies rate it among the most taboo swearwords due to its familial desecration, often eliciting higher offensiveness scores than terms like "cunt" in controlled ratings.[10] In popular media, its prominence surged with films like Pulp Fiction (1994), where Samuel L. Jackson's character utters it emphatically in the line "English, motherfucker, do you speak it?", cementing its role as a marker of raw authenticity or menace.[11] Abbreviations like "MF," "mofo," or "MF'er" emerged for circumlocution in semi-formal contexts, preserving the term's intensity while mitigating direct vulgarity.[12] Linguistically, "motherfucker" exemplifies compounding in profanity, where semantic opacity allows multifunctional adaptation across dialects, though its taboo status limits mainstream adoption; surveys of college-aged speakers show avoidance in mixed settings due to perceived aggression, with usage correlating to subcultural identity rather than universal insult.[13] Despite globalization via music and film, the term retains strong ties to U.S. urban vernacular, with non-native appropriations often misjudging its relational nuances, leading to unintended offense.[14]Informal abbreviations
In informal contexts, particularly in texting, social media, and spoken slang, "MF" functions as the primary initialism for "motherfucker," enabling concise expression of the vulgar term while often implying self-censorship of the full profanity. This abbreviation gained traction in the mid-20th century amid rising use of the underlying expletive in American English, especially within military, urban, and hip-hop vernaculars, where explicit language required abbreviation for brevity or decorum in written form.[15][16] The lowercase variant "mf" mirrors "MF" in usage but appears more frequently in casual digital communication, such as instant messages or online comments, to denote the same referent with reduced formality; it can function as a noun (e.g., "that mf"), adjective (e.g., "mf stupid"), or intensifier. Plural forms like "mfs" extend this pattern, referring to multiple instances or people in a derogatory sense. These forms proliferated with the advent of SMS and internet forums in the 1990s and 2000s, prioritizing speed over punctuation.[17][18] A phonetic shortening, "mofo," emerged as an alternative abbreviation in the late 20th century, deriving from slurred pronunciations of "motherfucker" and appearing in rap lyrics, comedy, and street slang to convey similar insult or emphasis with marginally less overt vulgarity. Historical euphemistic variants, such as "M.F." (with periods emphasizing the initialism) or playful substitutions like "Marshall Field," have occasionally substituted in polite or coded speech but remain less common in purely informal settings today.[19][20]Science and Medicine
Myelofibrosis
Myelofibrosis (MF) is a rare myeloproliferative neoplasm (MPN) characterized by progressive bone marrow fibrosis, ineffective hematopoiesis, extramedullary blood cell production, and eventual cytopenias.[21] In this disorder, normal bone marrow tissue is replaced by scar-like fibrous tissue, impairing the production of red blood cells, white blood cells, and platelets, which leads to anemia, leukoerythroblastosis in peripheral blood, and splenomegaly due to compensatory hematopoiesis in the spleen and liver.[22] Primary myelofibrosis (PMF) accounts for most cases, while secondary MF arises from progression of other MPNs such as polycythemia vera or essential thrombocythemia.[23] The condition typically affects individuals over age 60, with a slight male predominance, and driver mutations in genes such as JAK2 (50-60% of cases, often V617F), CALR (20-25%), or MPL (5-10%) initiate clonal hematopoiesis, promoting megakaryocyte hyperplasia and cytokine-driven fibrosis via pathways like TGF-β and PDGF.[24] Triple-negative cases (lacking these mutations) comprise about 10% and may carry worse prognosis due to higher-risk additional mutations like ASXL1 or EZH2.[25] Epidemiologically, MF has an annual incidence of 1.7 to 2.4 cases per 100,000 persons in the United States, with prevalence estimates of 3.6 to 5.7 per 100,000, though age-adjusted rates may be lower at around 0.32 per 100,000 person-years in some cohorts.[24][26] Risk factors include advanced age (>60 years), prior MPN diagnosis, and exposure to ionizing radiation or certain chemicals, though no strong hereditary component exists beyond rare familial clustering.[27] High-risk cytogenetic abnormalities (e.g., very high-risk karyotypes like +8 or inv(3)) or multiple high-risk mutations further predict progression to acute myeloid leukemia (AML), occurring in 10-20% of cases.[28] Systemic inflammation from megakaryocyte-derived cytokines contributes to constitutional symptoms, distinguishing MF from other MPNs.[29] Common symptoms arise from cytopenias, organomegaly, and chronic inflammation, with fatigue and anemia affecting up to 80% of patients due to reduced erythropoiesis.[21] Splenomegaly, present in over 90% of cases, causes early satiety, abdominal discomfort, and pain from infarction; hepatomegaly occurs less frequently.[22] Other manifestations include night sweats, fever, weight loss, bone pain, pruritus, and gout from elevated uric acid and LDH levels secondary to high cell turnover.[30] Thrombotic or hemorrhagic events complicate 7-10% of cases, driven by abnormal platelet function and endothelial damage.[31] In advanced stages, portal hypertension, cachexia, and infections from neutropenia predominate, with leukemic transformation marked by blasts >20% in blood or marrow.[24] Diagnosis requires integration of clinical, laboratory, and histopathological findings per World Health Organization criteria.[32] Peripheral blood shows teardrop poikilocytosis, nucleated red cells, immature granulocytes (leukoerythroblastosis), and variable leukocytosis or thrombocytosis early on, shifting to pancytopenia later.[21] Bone marrow biopsy is essential, revealing grade 2-3 fibrosis (on a 0-3 scale), hypercellular marrow with atypical megakaryocytes, and reticulin/collagen staining.[22] Elevated serum LDH, uric acid, and inflammatory markers support the diagnosis, while molecular testing confirms driver mutations and risk-stratifying variants.[30] Prognostic scoring systems like the Dynamic International Prognostic Scoring System (DIPSS) or Mutation-Enhanced International Prognostic Scoring System (MIPSS70) incorporate age, hemoglobin <10 g/dL, white blood cell count >25 × 10^9/L, blasts ≥1%, and constitutional symptoms to classify risk (low to very high), guiding therapy.[27] Treatment focuses on symptom palliation, spleen reduction, and anemia management, as no therapy halts fibrosis progression except allogeneic hematopoietic stem cell transplantation (HSCT), which offers potential cure in 40-60% of eligible younger patients with low comorbidity but carries 20-30% transplant-related mortality.[23] Janus kinase (JAK) inhibitors represent first-line therapy for intermediate- or high-risk symptomatic MF: ruxolitinib (approved 2011) reduces splenomegaly by >35% in 40-50% of patients and alleviates constitutional symptoms in 45-50%, though it does not improve overall survival or reverse fibrosis and may worsen cytopenias.[32][33] Alternatives include fedratinib (for ruxolitinib-intolerant cases), pacritinib (thrombocytopenia-permissive), and momelotinib (anemia-beneficial, approved 2023), selected based on cytopenias.[34] Supportive measures encompass transfusions, erythropoiesis-stimulating agents, danazol for anemia, hydroxyurea for leukocytosis, and radiation or splenectomy for refractory splenomegaly (though splenectomy risks thrombosis).[22] Recent advances emphasize combination therapies to overcome JAK inhibitor limitations, particularly in cytopenic MF, where anemia and thrombocytopenia challenge standard care.[34] The BET inhibitor pelabresib combined with ruxolitinib improved spleen response and symptom scores in phase 3 trials (MANIFEST-2, reported 2023-2024), with ongoing data suggesting anemia benefits.[35] Navitoclax (Bcl-xL inhibitor) plus ruxolitinib showed spleen volume reduction in 20-30% of relapsed/refractory patients in phase 2 studies (TRANSFORM-1, 2024).[36] Pegylated interferons and targeted agents like luspatercept for anemia are under evaluation, with ASCO 2025 data highlighting their role in non-JAKi candidates.[37] Clinical trials increasingly incorporate genomic profiling to personalize therapy, targeting TP53-mutated or high-molecular-risk subsets.[38] Prognosis varies by risk category: low-risk patients (DIPSS score 0) have median survival exceeding 15 years, while high-risk (score ≥6) averages under 2 years, influenced by age >65, hemoglobin <10 g/dL, blasts ≥1%, and leukocyte count >25 × 10^9/L.[39] Leukemic transformation portends median survival of 3-6 months without intensive chemotherapy or HSCT.[28] Complications like thrombosis (1.75% patient-year incidence), infections, and liver failure drive mortality, underscoring the need for early risk stratification.[31][24] Despite therapeutic progress, median overall survival for intermediate-2/high-risk MF remains 3-5 years post-JAKi initiation, with ongoing research prioritizing disease-modifying agents.[40]Molecular formula
In chemistry, the abbreviation MF denotes molecular formula, which specifies the exact number and type of atoms in a single molecule of a compound, reflecting its actual composition rather than a simplified ratio.[41][42] For example, the MF of glucose is C₆H₁₂O₆, indicating six carbon atoms, twelve hydrogen atoms, and six oxygen atoms per molecule, whereas its empirical formula (EF) simplifies to CH₂O.[41] This notation is widely employed in chemical databases, analytical tools, and research literature to distinguish the full structural count from empirical or structural formulas, aiding in calculations of molecular weight, isotopic distribution, and reaction stoichiometry.[43][44] Tools such as ChemCalc use MF to compute monoisotopic masses from given formulas, verifying compound identities via mass spectrometry data.[45] The MF is derived experimentally through methods like combustion analysis or mass spectrometry, often requiring knowledge of the compound's molar mass to scale up from the EF; for instance, if the EF is CH₂ and the molar mass is 30 g/mol, the MF is C₂H₄ (ethylene).[42][46] Precision in MF determination is critical for applications in synthesis, pharmacology, and materials science, where deviations can indicate isomers or polymers.[47]Technology and Communications
Medium frequency
Medium frequency (MF) denotes the portion of the radio spectrum spanning 300 kHz to 3 MHz, as designated by the International Telecommunication Union (ITU).[48] This band corresponds to wavelengths between 1 km and 100 m, facilitating ground-wave propagation during daylight hours for reliable short- to medium-range coverage, with sky-wave reflection enabling longer-distance transmission at night due to ionospheric effects.[49] Primary applications include amplitude modulation (AM) radio broadcasting on the medium wave sub-band (typically 526.5–1606.5 kHz in Europe and 530–1700 kHz in North America), which supports regional coverage up to hundreds of kilometers via ground waves.[50] MF is also employed for maritime mobile communications, aeronautical navigation beacons (e.g., non-directional beacons or NDBs operating around 190–535 kHz), and emergency distress signaling, such as the international distress frequency at 2182 kHz.[51][52] Propagation in the MF band exhibits diurnal variations: daytime signals attenuate over ground with low-angle radiation, limiting range to line-of-sight plus ground conductivity effects, while nighttime sky-wave multipath can cause fading but extends reach via ionospheric refraction.[49] Antenna designs, often vertical monopoles or loops, optimize for these characteristics, with regulatory allocations by bodies like the ITU ensuring interference minimization through coordinated frequency assignments.[53] Modern uses persist despite competition from higher frequencies, valued for robustness in low-data-rate, long-range scenarios like coastal radio and scientific ionospheric monitoring.[54]Media Foundation
Media Foundation (MF) is a Component Object Model (COM)-based multimedia framework and infrastructure platform developed by Microsoft for processing and rendering digital audio and video in Windows operating systems.[55] Introduced with Windows Vista on November 30, 2006, it enables developers to build applications for media playback, encoding, decoding, and streaming while supporting high-definition content, protected media, and extensible plugin architectures.[56][57] The framework operates as a pipeline model, where media sources, transforms, and sinks connect to process data streams asynchronously.[58] Core components include Media Foundation Transforms (MFTs), which handle tasks like decoding (e.g., H.264/AVC), encoding, and effects processing, allowing third-party extensions for custom formats.[59] It emphasizes quality enhancements such as improved audio/video synchronization, hardware acceleration via DirectX Video Acceleration (DXVA), and digital rights management through Protected Media Path for content protection.[55] Media Foundation supports a wide range of native formats, including MPEG-4, AAC audio, and VP8 video, with extensibility for additional codecs via custom MFTs or third-party plugins.[59] Initially limited in scope upon Vista release, it expanded in subsequent Windows versions—such as Windows 7 (2009) adding more container support and Windows 8 (2012) enhancing touch-enabled playback—to address evolving media standards like 4K resolution and HEVC.[56] In Windows 10 and 11 N/KN editions, which exclude media components by default for antitrust compliance, users must install the Media Feature Pack to enable MF functionality.[60] As a successor to DirectShow, Media Foundation provides a more robust, asynchronous architecture suited for modern hardware but requires C++ for full native access, with limited managed wrappers available.[58] Microsoft continues to maintain it, with SDK updates as recent as 2021 and sample code repositories on GitHub for developers.[61][57] Despite its maturity, adoption in new projects competes with cross-platform alternatives, though it remains integral to Windows media ecosystem components like the Photos app and Edge browser playback.[55]Arts and Music
Mezzo forte
Mezzo forte, abbreviated as mf, denotes a moderate degree of loudness in musical performance, serving as a dynamic instruction to performers. This marking directs execution at a volume comparable to a normal conversational tone, positioned between mezzo piano (moderately soft) and forte (loud) within the standard dynamic hierarchy of pianissimo (pp), piano (p), mezzo piano (mp), mezzo forte (mf), forte (f), and fortissimo (ff).[62][63] The phrase derives from Italian musical terminology, where mezzo signifies "half" or "medium," and forte indicates "strong" or "loud," literally translating to "half strong" or "moderately loud."[64][65] In notation, mf appears typically below the staff at the point where the intended volume shift occurs, guiding instrumentalists and vocalists to sustain this intensity until a subsequent marking, such as a crescendo (gradual increase) or diminuendo (gradual decrease), alters it.[66] Historical records trace the earliest documented use of mezzo forte to 1811, amid the broader evolution of dynamic indications that began in the late Renaissance with simple soft/loud directives around 1517 and gained precision during the Baroque period (circa 1600–1750).[67] By the Classical era, composers like Mozart and Haydn employed such nuances routinely in orchestral and chamber works to convey expressive intent, with mf enabling subtle gradations beyond binary contrasts.[68] Modern applications persist across genres, from symphonic repertoire—such as in Beethoven's symphonies, where mf balances thematic statements—to contemporary compositions, though interpreters adjust its absolute volume based on ensemble size, venue acoustics, and stylistic conventions.[63][66]MF Doom
Daniel Dumile, known professionally as MF Doom, was a British-born American rapper, songwriter, and producer born on July 13, 1971, in Hounslow, London, to a Trinidadian mother and Zimbabwean father.[69] Raised primarily in [Long Island](/page/Long Island), New York, after his family relocated to the United States, Dumile began his musical career in 1988 as Zev Love X, a member of the hip-hop trio KMD alongside his younger brother DJ Subroc (Dingilizwe Dumile) and collaborator Onyx the Birthstone Rock.[70] KMD released their debut album Mr. Hood in 1991 on Elektra Records, featuring conscious rap themes and innovative production, but the group faced internal and label conflicts, particularly over artwork for their follow-up Black Bastards, which included controversial imagery leading to their 1994 dropout from the label.[71] Subroc's death in a 1993 car accident profoundly impacted Dumile, prompting a period of withdrawal from the music industry during which he experienced homelessness and personal reinvention.[71] Emerging around 1997–1999 under the alias MF Doom—drawing from the Marvel Comics supervillain Doctor Doom—he adopted a signature metal mask to obscure his identity, embodying a mysterious, villainous persona that critiqued commercial hip-hop and emphasized artistic independence.[72] His independent debut Operation: Doomsday (1999, reissued 2001) on Fondle 'Em Records showcased dense, multisyllabic rhymes over lo-fi beats, establishing his underground cult following despite limited commercial success.[72] Doom's career peaked with collaborative and solo works blending obscure samples, wordplay, and comic book motifs, including personas like Viktor Vaughn and King Geedorah across albums such as Take Me to Your Leader (2003 as King Geedorah) and MM..FOOD (2004).[72] His partnership with producer Madlib as Madvillain yielded Madvillainy (2004) on Stones Throw Records, a critically acclaimed project recorded in a marathon session of smoking and sampling, featuring abstract narratives and masked vocals that influenced alternative rap.[72] Other key collaborations included The Mouse and the Mask (2005) with Danger Mouse as Danger Doom and Born Like This (2009), his final solo album under the Doom moniker, which incorporated guests like Ghostface Killah and Damon Albarn.[73] Throughout, Doom maintained a reclusive public image, often sending masked stand-ins to performances, prioritizing artistic control over mainstream exposure. Dumile died on October 31, 2020, at age 49 in Leeds, England, from angioedema—a rare, severe allergic reaction to blood pressure medication that caused swelling and oxygen deprivation to the brain.[73] His wife, Jasmine Dumile, announced the death privately to close associates in December 2020 and publicly on January 1, 2021, citing a desire to mourn without spectacle; an inquest later revealed potential hospital negligence in treatment.[74] Doom's legacy endures in underground hip-hop for pioneering masked anonymity, complex lyricism, and DIY ethos, inspiring artists like Earl Sweatshirt and Joey Bada$$, though his discography's reissues and fan analyses continue to unpack layers of mythology amid debates over authenticity in live shows.[70]Entertainment
Television
Modern Family is an American sitcom television series created by Christopher Lloyd and Steven Levitan that aired on ABC from September 23, 2009, to April 8, 2020, spanning 11 seasons and 250 episodes.[75] The show depicts three interconnected families in suburban Los Angeles: Jay Pritchett, a wealthy businessman remarried to younger Colombian Gloria Delgado-Pritchett and stepfather to her son Manny; Jay's daughter Claire Dunphy, her husband Phil, and their three children; and Claire's brother Mitchell Pritchett, his partner Cameron Tucker, and their adopted Vietnamese daughter Lily.[76] Presented in a mockumentary style with direct-to-camera interviews, the series explores family dynamics, generational clashes, and cultural differences through comedic scenarios grounded in everyday life.[77] The program achieved commercial success, averaging 10-12 million viewers per episode in its early seasons, and garnered widespread critical recognition for its writing, ensemble cast—including Ed O'Neill, Sofía Vergara, and Ty Burrell—and portrayal of non-traditional family structures without overt didacticism.[75] Lloyd and Levitan drew from personal experiences of blended families to develop the concept, initially envisioning it as a foreign exchange student's documentary on American households.[77] Its format influenced subsequent comedies by blending scripted humor with reality-TV elements, contributing to its longevity despite evolving network television trends toward shorter seasons. Monster Force is a Canadian-American animated television series produced by Universal Cartoon Studios and Lacewood Productions, consisting of 13 episodes that originally aired in syndication starting September 1994.[78] Set in a near-future world, the storyline follows a team of young agents equipped with advanced technology who battle revived classic monsters, including Dracula as the primary antagonist leading a force of undead creatures drawn from Universal's horror legacy, such as the Wolf Man and the Creature from the Black Lagoon.[79] Episodes feature action-oriented plots with supernatural threats, high-tech gadgets, and team-based monster hunts, reflecting 1990s trends in youth-targeted animation combining horror tropes with heroic adventures.[80] The series targeted children and teens, emphasizing themes of teamwork and innovation against ancient evils, but received limited distribution and has since faded into obscurity, with no major home video releases or revivals as of 2025.[79] Its production leveraged Universal's monster intellectual property for episodic storytelling, though critical reception was mixed due to formulaic narratives and dated animation styles compared to contemporaries like Batman: The Animated Series.[81]Video games
In action role-playing games such as Diablo II (released June 29, 2000), MF denotes Magic Find, a suffix on equipment and other modifiers that increases the chance of monsters dropping magical, rare, set, and unique items by a percentage, with the formula applying multiplicatively to base drop rates but subject to diminishing returns beyond approximately 250-300%.[82][83] The mechanic, absent in the original Diablo (1996), encourages specialized "MF runs" in high-density areas like Act 1's Countess or Act 3's Mephisto for efficient loot farming, though excessive MF reduces normal item drops without affecting gold or runes.[83] Metroid Fusion (released November 17, 2002, in Japan; localized versions in 2003) is a 2D action-adventure game for the Game Boy Advance, developed by Nintendo R&D1 and Intelligent Systems, where player-character Samus Aran, infected by an X parasite, navigates a spaceship and planet SR388 while acquiring power-ups like the Varia Suit and acquiring abilities to combat bio-organic threats under guidance from an AI companion.[84][85] In League of Legends (released October 27, 2009), MF abbreviates Miss Fortune, a ranged attack-damage carry champion from the Bilgewater faction, whose kit includes abilities like Double Up for bonus damage on chained hits, Strut for movement speed and attack speed bursts, and ultimate Bullet Time for a cone of rapid-fire projectiles, emphasizing positioning and wave clear in bottom-lane roles.[86][87]Business, Organizations, and Finance
Companies and organizations
MF Global Holdings Ltd. was a multinational brokerage firm specializing in futures, options, and foreign exchange markets, operating from 2007 until its bankruptcy filing on October 31, 2011. Originally spun off from Man Group as Man Financial in 1994 before rebranding, the company provided execution, clearing, and prime brokerage services to institutional clients worldwide, with a peak market capitalization exceeding $2 billion in 2011. Its collapse stemmed from unauthorized $6.3 billion in leveraged bets on European sovereign debt, leading to liquidity shortfalls and the misappropriation of approximately $1.6 billion in segregated customer funds, as determined by subsequent U.S. congressional investigations and trustee reports.[88][89][90] Massey Ferguson is a brand of agricultural machinery, particularly tractors, owned by AGCO Corporation since its acquisition in 1994 for $395 million. Formed in 1953 via the merger of Canadian firm Massey-Harris (established 1847) and British company Harry Ferguson Limited, it pioneered hydraulic three-point hitch systems and became the global leader in tractor sales by the 1950s, producing over 500 models historically. Today, Massey Ferguson equipment is manufactured in plants in Beauvais, France; Jackson, Minnesota, USA; Canoas and Mogi das Cruzes, Brazil; and Changzhou, China, emphasizing durability for diverse farming operations.[91][92][93] MF Norwegian School of Theology, Religion and Society (MF vitenskapelig høyskole) is an independent, accredited higher education institution in Oslo, Norway, founded in 1907 as the Norwegian Lutheran School of Theology. It serves as the primary provider of theological education for the Church of Norway, offering undergraduate to doctoral programs in theology, religious studies, biblical studies, and social sciences related to religion, with over 100 faculty and an enrollment of around 1,200 students as of 2023. The institution conducts research on Christianity, interreligious relations, and societal impacts of faith, receiving state funding while maintaining ecclesiastical ties.[94][95]Mutual funds
A mutual fund is an open-end investment company registered with the U.S. Securities and Exchange Commission (SEC) that pools capital from numerous investors to acquire a diversified portfolio of securities, including stocks, bonds, and short-term money-market instruments.[96] Shares in the fund represent proportional ownership of the underlying assets, with the net asset value (NAV) calculated daily based on the closing market prices of holdings, enabling investors to buy or redeem shares at that price each business day.[96] Professional fund managers make investment decisions to align with the fund's stated objectives, such as capital growth, income generation, or capital preservation.[2] The modern mutual fund structure originated in the United States with the launch of the Massachusetts Investors Trust on March 4, 1924, marking the first open-end fund that allowed continuous issuance and redemption of shares, distinguishing it from closed-end investment trusts prevalent earlier in Europe.[97] This innovation democratized access to diversified investing, as prior pooled vehicles like 18th-century Dutch merchant funds or 1868 British investment trusts were more rigid in structure.[98] By 2024, the U.S. mutual fund industry managed over $20 trillion in assets, reflecting sustained growth driven by retail investor participation and regulatory frameworks established post-1929 market crash.[99] Mutual funds operate under active or passive management strategies. In active funds, managers select securities to outperform benchmarks, incurring higher fees for research and trading. Passive funds, such as index funds tracking the S&P 500, replicate market indices with minimal intervention, typically resulting in lower costs but returns aligned to market performance.[100] Common types include:- Equity funds: Primarily invest in stocks for growth potential, categorized by market capitalization (e.g., large-cap, mid-cap) or sector focus.[101]
- Bond or fixed-income funds: Hold debt securities for income and relative stability, with variations like government, corporate, or high-yield bonds.[101]
- Money market funds: Invest in short-term, high-quality debt for liquidity and capital preservation, though not FDIC-insured and subject to minimal principal fluctuation risk.[100]
- Hybrid or balanced funds: Allocate across equities and fixed income for moderated risk.[101]
- Target-date funds: Adjust asset allocation over time toward a retirement horizon, becoming more conservative as the target date approaches.[102]