There are a broad range of managed funds available in the Australian market place.
Investing through a managed fund allows you to pool your investment monies with other investors and have a professional fund manager control the portfolio for you.
You are basically outsourcing the investment decisions to the fund manager. There are managed funds available across all of the asset classes, even cash.
The structure of a managed fund investing in shares (sometimes called a share or equity fund) can be shown the diagram opposite.