growth fund

n.
A mutual fund that offers long-term capital appreciation.

A diversified portfolio of stocks that has capital appreciation as its primary goal, and thereby invests in companies that reinvest their earnings into expansion, acquisitions, and/or research and development.

Investopedia Says:
Most growth funds offer higher potential growth but usually at a higher risk.

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Mutual fund that invests in growth stocks. The goal is to provide capital appreciation for the fund's shareholders over the long term. Growth funds are more volatile than more conservative income or money market funds. They tend to rise faster than conservative funds in bull (advancing) markets and to drop more sharply in bear (falling) markets. See also Growth Stock.