I am looking for the legally correct expression for funds that are not fund-of-funds. Those funds do not invest in other funds but to at least 90% directly in stocks or bonds.
In German there is the expression "Zielfonds" which would be "target fund" in English - which is not correct as I assume. I looked through law texts in Enlish and I did not find a specific expression for this and I wonder whether it exists.
Maybe the right word is just "fund" and fund-of-funds for a distinction?