MINIMUM PURCHASES
\mˈɪnɪməm pˈɜːt͡ʃɪsɪz], \mˈɪnɪməm pˈɜːtʃɪsɪz], \m_ˈɪ_n_ɪ_m_ə_m p_ˈɜː_tʃ_ɪ_s_ɪ_z]\
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To invest in a mutual fund the financial institution requires this specific type of lowest monetary amount. To open a new account, this is called the minimum initial purchase. To deposit into an account already in existence, this is called the minimum additional purchase. The financial institution that operates the mutual fund sets these varied amounts. Also known as minimum initial purchase and minimum additional purchase.
By Henry Campbell Black
