family of funds

Family of Funds

A group of mutual funds offered by one investment or fund company. Each mutual fund has different characteristics and can range depending on investment objective.

Also referred to as a "Mutual Fund Family" or simply a "Fund Family".

Notes:

Most fund companies today offer a wide range of mutual funds for investors to choose from. A benefit to fund families is they often allow investors to transfer money between funds for a nominal charge or no charge at all. Therefore, an investor who decides to switch from a growth fund to a balanced fund could do so without any new sales charges if each of these funds were part of the same fund family.

See also: Back-End load, Balanced fund, Closed-End mutual fund, Front-End load, Growth fund, Mutual fund, No-Load fund, Open-End fund

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Family of funds

Different mutual funds offered by one investment company.

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family of funds

A group of mutual funds operated by the same investment management company. Investors are often able to transfer money between mutual funds within a particular family of funds at only a nominal charge. Thus, an investor with shares in a growth fund could move funds out of the growth fund and into a money market fund or a bond fund without paying a new sales charge if each of these funds is managed by a single investment firm. Investing money with a company permitting this flexibility is advantageous to the investor. Also called fund group, group of funds. See also fund switching.