A mutual fund is an  investments portfolio held jointly by a large number of persons and managed by a corporation under the supervision of the Securities Authority and an external trustee.
A mutual fund enables investors to purchase Participation Units in the fund which constitute units of participation in the fund's assets and profits.
The fund manager concentrates the money of the various investors and invests it in investment channels known in advance.  The investment channels of every fund are published in advance in a document called a "prospectus".
The fund's units can be purchased at any bank or from a non-bank stock exchange member.
It is important to note that it is possible to buy at any bank units of funds managed by all fund managers, and not only of the bank in which the account is managed