The popularity of mutual funds has soared - but so have their diversity and complexity. Although there are now hundreds of mutual fund families and thousands of different funds of countless flavors, it's not always easy to find ones that best meet your needs ... keep expenses low ... and perform well. How Mutual Funds Work is brimming with useful, up-to-date information about the burgeoning mutual fund arena. It explains how funds operate and gives you the background necessary to find those that will best meet your needs. Authors Albert J. Fredman, who teaches and writes on investments, and Russ Wiles, a journalist specializing in mutual funds, separate fact from fiction. They show you what works and what doesn't. The information is all unbiased and non-promotional - neither author has anything to sell. It's unusual for a mutual fund book to cover such a broad range of topics, yet treat each thoroughly. How Mutual Funds Work looks closely at stock valuation ... the factors that affect bond prices ... risk and return ... index funds ... international investing ... analyzing stock and bond funds ... mutual fund costs ... market timing ... variable annuities ... shareholder services ... portfolio building ... and much more. And, to reinforce key points, the authors provide numerical illustrations, occasional short investor cases, a question and answer chapter, and a comprehensive glossary.