Roberta Cartwright puts money each month into a mutual fund that has very few controls; in that, the managers can invest in whatever they want because this type of fund is not regulated by the SEC- Roberta has a(n) ________ fund.

Why Invest in Mutual Funds?
A mutual fund provides diversification through exposure to a multitude of stocks. The reason that owning shares in a mutual fund is recommended over owning a single stock is that an individual stock carries more risk than a mutual fund.