Legal Definitions - fund

Definition: A sum of money or other liquid assets set aside for a specific purpose. This can include a trust fund, a savings account, or a pool of money collected from multiple sources.

• A college savings fund set up by parents to pay for their child's education.
• A mutual fund that invests in a variety of stocks and bonds to provide diversification for investors.
• A disaster relief fund established by a charity to provide aid to those affected by a natural disaster.

These examples illustrate how a fund can be used for a specific purpose, whether it's saving for a future expense, investing for financial growth, or providing aid to those in need. Funds can be established by individuals, organizations, or governments to achieve a particular goal.