what are mutual funds and what is the life cycle of mutual funds?

Answer 1

Just another idea that these fund companies came up with to take your money and give you a crappy return on your dollars.

Answer 2

Mutual funds accept money from individual investors and use the money to invest is specific investments. The type of investment depends on the individual fund. Once a fund is set up, it is generally intended to continue forever. Individual investors can sell there shares at any time.