An umbrella fund (sometimes called a fund of funds) is a mutual fund containing several sub-funds, each of which uses a different investment strategy. The umbrella fund structure makes it cheaper for investors to move from one sub-fund to another. A mutual fund is a form of collective investment that pools money from many investors and invests the money in stocks, bonds, short-term money market instruments, and/or other securities. ... Investment or investing is a term with several closely-related meanings in finance and economics, related to saving or deferring consumption. ...

• See also: fund of funds