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Mutual fund star Ray Gulp invests in growth stock fund
Ray Gulp, young Phillies pitcher, has about $60,000 in Massachusetts Investors Growth Stock Fund. At 22 he owns mutual fund shares, chosen to keep his money working while he concentrates on baseball. The fund, MIT Growth Stock, started in 1924 as the first open end mutual fund and now holds nearly $2 billion in assets with about 130 thousand shareholders.
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