The phrase "a fund to replace" is correct and usable in written English.
It can be used when discussing financial resources allocated for the purpose of substituting or compensating for something that is being removed or lost.
Example: "The organization has established a fund to replace outdated equipment in the laboratory."
Alternatives: "a budget to substitute" or "a reserve to cover".
I've also been urged to contribute to a fund to replace the pay she lost when she was on bed rest.
He will use some of the money to help pay for a transatlantic cruise and intends to donate a chunk to a fund to replace a church hall destroyed in an arson attack.
Part of his initial lump sum will be donated to a fund to replace a hall destroyed by fire in an arson attack four years ago at St Luke's Church in Newton Poppleford.
The councillors of Caulfield, Victoria, organised a fund to replace the lost medical equipment, opening with a donation of AU£2,000.
* HOUSING PROJECT IMPROVEMENTS: Approved an agreement with Los Angeles County to use nearly $1.6 million in Proposition A funds to replace the community building at the Pico Gardens housing project and for landscaping and other improvements at the Ramona Gardens housing project.
The Obama administration rolled out a Cybersecurity National Action Plan that sought $300 million in a revolving fund to replace legacy systems across the federal government.
European officials have acknowledged that such issues are forming part of discussions now under way — driven by Germany — on the creation of a permanent fund to replace the temporary ones, which expire in 2013.
In Brussels, preparations were being made for a meeting of finance ministers next week, when they will discuss the size and function of a new, permanent bailout fund to replace the current one, which expires in 2013.
You can also use one type of index fund to replace another indexed investment.
We also contributed $500 to the fund to replace the turf at the Burbank High School playing field.
