The investment objective of a mutual fund refers to the specific goal or target that the fund's management has set for the portfolio. This objective outlines what type of securities the fund will invest in, such as stocks, bonds, or other assets, and the general strategy it will follow to achieve its goals. The investment objective is an important factor for potential investors to consider when deciding whether a mutual fund is a good fit for their investment needs, as it helps to define the fund's risk and return characteristics.