Fund is an investment tool, which collects the funds of many investors and is managed by a professional fund management company. The fund has a wide range of investments and can invest in stocks, bonds, money market instruments, commodities and other assets. The main purpose of the fund is to diversify investment risks and improve investment returns.

* * * A mutual fund is a kind of fund and a collective investment tool. By issuing fund shares, many investors' funds are pooled and invested and managed by fund management companies. * * * The main features of the same fund are collective investment, professional management and risk diversification.

Therefore, * * * mutual fund is a kind of fund, but not all funds are * * * mutual funds. Besides mutual funds, there are other types of funds, such as hedge funds and private equity funds. These different types of funds have certain differences in investment strategy, investment scope, risk degree and regulatory requirements.

In a word, fund and * * * fund are two different concepts, and * * * fund is a type of fund. When investing, you need to understand the characteristics and differences of different types of funds, and choose the appropriate fund products according to your investment objectives and risk tolerance.