Fund Basics
How is a fund different from a discretionary investment account or a trust?
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A fund pools money from multiple investors into a single collective investment vehicle, manages it, and shares out the results.
Discretionary investment management differs from a fund in that the investor and the firm sign an individual contract and ownership of the contracted assets remains with the investor. A trust is also distinguished from a fund in that it presupposes an individual fiduciary relationship between the settlor and the trustee.
This answer is general financial information as of 2026-10-14, not investment advice. Rules and tax rates change, so please also check the latest guidance from the source institution.
