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STRUCTURE OF MUTUAL FUNDS

Mutual
Fund
Shareholde

Fund Board
of Directors

Investmen Fund Principal Custodian External


t Adviser Administrato Distributor Bank Auditor
r
200 Production Costs
195
190 Unit Pric e
185
180 Profits
Dollar s

175
170
Millions of

165
160
155
150
1990 1991 1992