A fund is a financial product that encompasses a pool of money, which is funded by investors and managed by professional fund managers to bring in returns. Funds can come in many forms and can be used for a variety of reasons.

Pension funds are commonly used by corporations and other organizations to provide retirement benefits to their employees. Funds pooled by these types of organizations is typically invested conservatively in order to maintain the security needed to pay out during retirement.

Insurance funds are also used to fund customer policies when risks occur. Whether used to protect against car accidents, home accidents, or any number of risks, insurance organizations pool customer premiums into a fund in order to provide for any damage that may occur due to risks.

Foundations, such as those found at wellness centers or universities, are often funded through the generous donations of individuals or corporations. Foundations use the funds to support further research or to help support the cause. Funds can also be invested with the intention of long-term growth, depending on the goals of the foundation.

In addition to these organizations, individuals and families also use funds to suit their needs. For example, many people set aside emergency funds, college funds, and investments in order to save for the future. By setting aside a portion of their savings into a fund it allows them to track the performance of their investments and make sure they are meeting their goals.

No matter the type of fund, or the reason for creating it, the fundamental purpose of any fund is to promote growth and bring in returns. From pension funds to college funds, funds have become a popular way to invest and manage money with the intention of receiving returns in the future.