Managed Funds are a form of unit trust whereby the Fund makes payments under an insurance policy and is allocated units in an Investment Fund by way of benefits. In certain circumstances this form of unit trust can have tax advantages compared with a conventional unit trust.

an investment fund where investors pool their money with that of other investors to buy assets such as Australian shares, international shares, bonds and property. The fund is managed by financial investment professionals. Interest in the assets of the fund is divided into units that are issued to each investor. Returns from managed funds can be delivered in the form of both capital growth and income returns.

A combination of more than one mutual fund which is actively managed. The fund manager generally invests across different investment sectors in an attempt to build a balanced portfolio.