Mutual funds . a. are organizations that distribute new issues of securities for corporations b. are depository institutions that are owned by its depositors, who are often members of a common organization or association c. are groups of investment banking firms formed to spread the risk associated with the purchase and distribution of a new issue of securities d. are investment companies that use funds provided by savers to buy various types of financial assets, including stocks and bonds, in the financial markets e. cater to savers, especially individuals who have relatively small savings or need long-term loans to purchase houses