A fund is a pool of money that is used to invest in assets with the aim of earning a return. Individuals can put money into the fund and share in any return the fund makes. A fund manager decides how the pool of money should be invested according to the specified goals and risk level of the fund.
A fund is a good way for members of the public to make investments because you typically don’t need a lot of money to start, the costs are relatively low and you do not have to actively manage your investment.