In mutual fund lingo, what is a 'Series'? What does it mean?
It really just mean a family of funds.
They may share the same investment style or manager or some other definable characteristic.
A large fund company or bank may have several kinds of funds. Some targeting growth, others dividends, etc. Series is a shorthand for marketing and other purposes.
This can also refer to different classes of the same identical but with different fee structures.
- Class A- 2% front Load
- Class B - No front load but with 1% redemption fee
- Class C - no load but with 12b-1 fees