Equity Fund

Equity funds are mutual funds or index funds that are made up mostly of stocks. Equity funds come in a range of flavors, depending on the investment themes they embrace. So there are "income equity funds," "growth equity funds," "fun equity funds," and so on.

An income equity fund would be made up mostly of stocks from companies that have a good history of paying out dividends.

A growth equity fund would comprise stocks from companies that are growing (duh?) and are probably not paying out dividends, because they are reinvesting their profits to grow faster.

See: Mutual Fund.