The 85th anniversary of the filing for the world's first open-ended mutual fund is almost here. That's the focus of Chuck Jaffe's Sunday MarketWatch column
, which highlights MFS
' Massachusetts Investors Trust
, for which the firm first filed paperwork on March 21, 1924. Jaffe uses the fund (which has yielded an annualized average return of more than eight percent over nearly 85 years) as anecdotal evidence for the long-term durability of the mutual fund concept.
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