The term 'Type of Fund' can refer to three different types of funds: SLUSH, TRUST, and HEDGE. SLUSH funds are typically used for discretionary spending, meaning that the money is not allocated for a specific purpose and can be used at the discretion of the person in charge. TRUST funds are established to provide financial security for a beneficiary, such as a minor or disabled individual. HEDGE funds are investment funds that use complex strategies to generate returns, often involving high risk investments.