Rather of buying from other investors, investors purchase mutual fund shares directly from the fund or through a fund broker. The fund's per share net asset value plus any fees payable at the time of purchase, such as sales loads, is the price that investors pay for the mutual fund.
Shares in mutual funds are “redeemable,” which means that investors can sell them back to the fund at any time. In most cases, the fund is required to provide you the payment within seven days.