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 14.10.2026, not investment advice. Rules and tax rates change, so please also check the latest guidance from the source institution.
