Also called a global fund. A mutual fund investing in securities worldwide. International funds, which may be invested in the emerging markets of developing countries, more established economies, or a combination, must manage foreign currency trends, as well as trends in the securities markets. Mutual funds are sold by prospectus; a prospectus contains complete information on risks, fees and expenses, and should be read carefully before investing. The risks associated with investing on a worldwide basis include differences in regulation of financial data and reporting, currency exchange differences, as well as economic and political systems that may be different from those in the United States.