After an extended bear market most stock funds have unrealized losses. The taxpayer can buy stock funds at a discount to their after-tax value and avoid paying tax on capital gains distributions, perhaps for many years. The stock funds will eventually have capital gains. The stock can be gifted to a child before the capital gains are realized. The child will pay on the gain at their lower tax rate.
Example: In 2018, XYZ Fund had realized losses totaling $5 per share. In 2019, as the market recovered XYZ realized $3 per share in gains. The result is XYZ does not have to make any capital gains distributions. The carry-over loss offsets the $3-per-share realized gains, and the fund still has $2-per-share in banked losses to offset future realized gains.
By buying stock funds at a discount to their after-tax value you may avoid paying tax on the capital gains distributions.