Asset allocators create portfolios, often in the form of mutual funds,

Hello himanshu0123,

We hope this finds you well.

To answer your queries,

1. "often in the form of mutual funds" is not a past participle ("verb+ed") modifier; "often in the form of mutual funds" is one modifying phrase that acts on the verb phrase "create portfolios", and "intended to turn in good results..." is a separate modifier that acts upon "mutual funds".

2. Present participles ("verb+ing") do not indicate tense; the use of a present participle to modify a noun conveys that the noun took an action that is continuous in nature, but this action can be in the past, present, or future depending on the context. The past participle, which often but not always takes the form "verb+ed", does convey that the action it refers to concluded in the past.

3. Yes; one modifier can act upon all elements in a list, so long as the meaning conveyed is logical.

4. No; two noun modifiers - or adjectives - can be joined with just a comma. For example, "I live in the big, red house."

We hope this helps.
All the best!
Experts' Global Team
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