family of funds business definition

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 a single investment firm manages each of these funds. Also called fund group, group of funds. See also fund switching.