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You have been redirected here from Hemscott.com as we are merging our websites to provide you with a one-stop shop for all your investment research needs. Registered Hemscott users can log in to Morningstar using the same login details. Similarly, if you are a Hemscott Premium user, you now have a Morningstar Premium account which you can access using the same login details. Registered investment companies are registered under the 1940 Act and subject to significant disclosure and ongoing compliance obligations. As registered investment company securities are also registered under the 1933 Act, they may be offered to the public. Mutual funds pursue a wide variety of investment strategies. Stock funds, bond funds, index funds, money market funds and ETFs may all be organized as mutual funds. Closed-end funds may invest in a greater amount of illiquid securities than mutual funds and, therefore, are the preferred form of organization for funds engaging in such investments. Unit investment trusts.