A
mutual fund that invests in a combination of
ordinary share and
bonds (including government debt). As such, it has a wide spread of
assets and could be considered medium risk, in contrast to funds that are invested wholly in equities (high risk) and wholly in bonds (low risk). The consequence of this should be that the investment return of a balanced fund will be pedestrian compared with an
equity fund during a
bull market, but will do well during a
bear market.
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