If you don't have a lot of names to change, you can replace the fund name field with a simple if/then/else formula field:

 If  GfFnds_1Fn.GfFnds_1Fn_Description  = "Funky Fund Name" then "Friendly Fund Name" else

if  GfFnds_1Fn.GfFnds_1Fn_Description  =  "Weird Fund Name" then "Normal Fund Name" else

GfFnds_1Fn.GfFnds_1Fn_Description   

Yes, the if...else statements will work.  Or, you could manage the friendly names with a Fund Attribute and then use the Fund Attribute in your report.