Which of the following is correct regarding mutual fund shares purchases?

The correct understanding of mutual fund share purchases revolves around the requirement of a prospectus at the point of sale. When investors are contemplating buying mutual fund shares, they need to be furnished with essential information to make an informed decision.

Regarding the options, the statutory prospectus is a key document that must be provided before the purchase. This document contains comprehensive details about the mutual fund's objectives, strategies, risks, and costs. For investors to make decisions that align with their investment goals, having access to this document before making a purchase is critical.

While a summary prospectus may be provided after the purchase, it is intended to give additional insights rather than serve as the primary informational resource prior to the investment decision. Therefore, it's more accurate to affirm that a statutory prospectus is a necessary requirement before any purchase of mutual fund shares, ensuring that all investors have the information they need upfront to facilitate informed decisions.

This explains why the assertion about the requirements surrounding the prospectus is essential in mutual fund scenarios. Understanding the roles and timing of these documents enhances investor awareness and compliance with regulatory standards.