A slang name for a mutual fund that has an investment strategy that focuses on high-risk securities in an attempt to capture above average returns. A go-go fund's aggressive approach usually involves holding large positions in growth stocks. Go-go funds entice investors by promising large, abnormal returns created from shifting portfolio weights around speculative information. While investors may experience superior profits, they are also bearing a great deal of risk. These types of mutual funds were highly valued in the 1960s, but became less popular after large downturns in their speculative holdings.