In our previous article, the benefits of managed futures mutual funds were discussed. This article tackles some of the major issues in establishing a mutual fund. Steps Necessary for Mutual Fund Formation and Registration From a legal standpoint, the “mutual fund” is a Securities Exchange Commission (“SEC”) registered and regulated pooled investment vehicle that is required to comply a complex set of rules, regulations and statutes, including the Investment Company Act 1940 (“1940 Act”). Mutual funds are often times referred to as open ended investment companies. While SEC registered mutual funds may be organized in almost every state within the…