The term family of funds refers to the range of mutual funds offered by a single management company. Typically, a company's family of funds will provide individuals with the ability to select from a wide array of investment objectives.
Also known as a mutual fund family, a family of funds is the selection of investment opportunities offered by a single management company. In order to attract and support a wide assortment of investment objectives, the family of funds will normally consist of mutual funds in a large number of categories.
A family of funds can include individual mutual funds that might be investing in a single sector of the economy as well as fulfilling an investment objective. For example, the offering of funds might include large cap stocks, mid cap stocks, small cap stocks, domestic stocks, international stocks, municipal bonds, high-yield bonds, fixed income and even money market.
Examples of family of funds include those offered by Fidelity Investments, Vanguard, American Fund, Franklin Templeton Investments and T. Rowe Price & Co.