fund supermarket

Definition

A brokerage firm that provides access to a variety of mutual funds from different fund families. Fund supermarkets are analogous to grocery supermarkets: they allow consumers to buy a variety of goods from different producers at one central location. In the case of fund supermarkets, the consumers are investors, the producers are mutual fund families, and the central location is a brokerage firm. The primary benefit of a fund supermarket is simplicity: an investor can buy funds from different fund families and receive all their statements in a single report.
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fund overlap fund switching