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Fund Family
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A fund family is a set of related funds, usually mutual finds, with a common brand. One minor advantage of investing in multiple funds in the same fund family is being able to receive a common statement for all. A potentially more meaningful advantage might be the ability to reallocate investment dollars between different fund family funds. Generally each mutual fund in a fund family will have its own manager. Some funds will likely perform much better than others. As a result the investor may prefer investing in the best funds available to that of staying within a fund family. One very large fund family is that offered by Fidelity Investments, with dozens of funds. Janus, Putnam, and Vanguard are other major well-known fund family brands.
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