what was the first equity fund and does it still exist 
the first modern equity fund was the massachusetts investors trust established in boston in 1924 by edward g leffler and ashton l carr 10 the fund was designed to allow smaller individual investors to pool resources and invest in diversified portfolio of stocks which was previously only available to wealthy individuals or institutions the massachusetts investors trust still exists and operates under the name mfs massachusetts investors trust and is managed by mfs investment management 