A mutual fund that invests predominantly or exclusively in the securities of a single country. While a single-country fund may be diversified in other ways (for instance, it may hold both stocks and bonds), it is usually exposed to political risk. Some analysts argue that in an age of globalization, there is little difference in single-country and multi-country funds, but others dispute that. See also: Country diversification, WEBS.
A mutual fund that invests in securities of one country. A single-country fund, for example, might invest only in securities issued in Australia.