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As a keen observer of the financial markets, I've often noticed that many mutual funds seem to have ticker symbols composed of five letters. However, this pattern doesn't seem to be universal. Does this mean that all mutual funds necessarily have five-letter tickers? Or are there exceptions to this apparent rule? Could there be a specific reason behind this convention, such as historical precedents or regulatory requirements? And if not all mutual funds adhere to this practice, what determines whether a fund adopts a five-letter ticker or a different format? I'm curious to understand the nuances and intricacies behind this seemingly straightforward question.
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