Wangari mobilizes money from Ivorian students in Ghana and invests the money incommercial papers of Ivorian companies, certificates of deposit of Ivorian banks, andtreasury bills of the Republic of Ivory Coast. Which type of mutual fund is it
Question
Wangari mobilizes money from Ivorian students in Ghana and invests the money incommercial papers of Ivorian companies, certificates of deposit of Ivorian banks, andtreasury bills of the Republic of Ivory Coast. Which type of mutual fund is it
Solution
The type of mutual fund that Wangari is operating can be classified as an International or Global Mutual Fund. These types of funds invest in overseas securities or outside the investor's own country. In this case, Wangari is mobilizing money from Ivorian students in Ghana and investing in commercial papers of Ivorian companies, certificates of deposit of Ivorian banks, and treasury bills of the Republic of Ivory Coast. This indicates that the investments are being made in a specific country (Ivory Coast), which is a characteristic of International Mutual Funds.
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