Definition of 'Single-Country Fund'
A mutual fund that restricts its investment to the assets of one country and is able to allocate its funds only within the range of investment instruments available in the specified country. This restriction is based on the mutual fund prospectus. If the fund's prospectus states that it is only investing in one country, the fund is bound by this statement.
Also known as a "country fund".
Investopedia explains 'Single-Country Fund'
For example, a single-country fund for Russia will only invest in assets based in that country, such as the stocks of Russian companies, Russian government debt and other Russia-based financial instruments.