Which of the following are advantages of mutual funds:

I. Mutual funds have a minimum initial purchase price that is reasonable enough for most individual investors to afford.

II$.$ Individual investors need not worry about portfolio management as professional money managers make the decisions of when to add or remove particular securities from a fund.

III. As a mutual fund invests in many securities$,$ investors are provided with some level of diversification.

IV$.$ Intraday trading allows investors to move into and out of their mutual fund positions quickly and as often as desired.

V$.$ Investing in a mutual fund with no load, a low management fee & low turnover provides low cost and diversification.