Very general funds, including most markets and types of share. Very specific funds that concentrate on a particular market sector or type of share. Some funds aim for a high income. Some funds look for above average capital growth. The many so-called 'balanced' funds look for a mix of both capital growth and income. High Security funds - normally called with-profits bonds or guaranteed bonds.
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Unlike investment trusts, Bonds are open-ended. Units can be created when investors invest and liquidated when investors dispose of their holdings. There is a direct relationship between unit values and the underlying investments. While it is a life assurance contract, the amount of Life Cover is nominal and is outlined in the Key Features documentation of the contracts.

Taxation
All gains made by a Bond are free of Capital Gains Tax (CGT). For basic rate tax payers there is no additional Income Tax to pay provided that the gain does not, after "top slicing", and added to your normal income does not take you into the higher band of tax. For higher rate tax payers there will be taxation at the rate of difference between basic rate and higher rates. A full outline of taxation treatments is contained in the Key Features documentation of the bond you choose.