Yes, you can create fader groups.

In Setup mode, slide the tray (usually to the right) until you see an unused block.  Its correcponding encoder knob will be unlit.  Double-click on the unlit encoder and a screen will pop up where you can choose which inputs you want to include in the group.  Name the group and the group will show up in the tray.

You can also group all the EFX if you wish.