Investment funds

[Muffster]

A question to the more financially savvy PH'rs.
Do any of you use a particular type of investment fund as opposed to choosing and managing individual shares themselves? I have invested in shares in the past which hasn't gone particularity well! And in the interests of 'diversifying' my investments it may be something for me to consider. So, could someone give me a quick snapshot of how investment funds actually work and the potential pitfalls.
Thanks.

[Muffster]

Thanks for the response, its a good start for me. I have of course searched on Google but the number of products and choices is bewildering to the layman like me.
I'm now a 'civvy' after working for Her Majesty for many years and this is a new entity to me.
I've been stung in the past, having bought a fair chunk of shares in Centrica a few years ago only to have the price hammered my Mr Milliband when he used the energy issue as a Political football and they haven't recovered since. Also lost out on BP.
So, the prospect of choosing and managing my own fund is a big no-no. I will try and hunt down a decent independent adviser. No doubt there are plenty of Shysters around, thanks Ginge R, and have ordered Smarter Investing by Tim Hale which will hopefully expand my limited knowledge.
In the meantime I would be grateful if you keep the tips coming. Ginge, i may well be in touch in the future.

Ta muchly.

[Muffster]

Hello again mate.
Do you have any knowledge of experience of property funds as an alternative to an investment fund?

Thanks.