What is fof?
The fund in the fund, namely FOF(fundofunds), takes the fund as the main investment target. According to the definition of the CSRC, more than 80% of the fund assets are invested in the fund of the Fund. The main contents of this consultation include:
1) diversified investment needs. A single fund may not account for more than 20% of the FOF, and may not hold funds from other funds. Except in the form of an index.
2)FOF does not hold graded funds.
3)FOF shall not hold funds that have been in operation for less than 65,438+0 years and whose regular report disclosure scale is less than 200 million yuan.
4)FOF does not charge management fees for investing in its own fund products, as well as related redemption fees and sales service fees.
What are the advantages of FOF in asset allocation?
Public Offering of Fund has covered stocks, bonds, gold, crude oil, commodities and other fields. Needless to say, there are several gold funds, crude oil funds, many agricultural products, non-ferrous metals and other commodity funds, as well as equity investment funds, REITS, QDII funds and so on. Over the years, the fund has opened up many fields, which has really facilitated asset allocation!
There is no need to open various stock accounts, bond accounts and futures accounts, and there is no need to manage funds separately. You can completely realize asset allocation under a unified account (especially the internal FOF of fund companies), which greatly saves costs and improves efficiency!
American FOF experience: the demand for old-age care is the biggest driving force
1985 created the first FOF fund in the United States, VanguardSTARFund. According to the data in KiplinGEr'sPersonalFinance magazine 1986, this fund is a tax preferential policy such as IRA and Keoghs designed to meet the needs of the elderly.
With the continuous growth of American pension market and the transformation of pension plan from DB to DC, the interaction between market and supervision has promoted the development and legislation of FOF funds in the United States, making the FOF (including target date funds) in the United States flourish.
According to the data of ICI20 15 in the third quarter, there are about 1399 FOF funds in the United States, with a total scale of about 1.67 trillion US dollars, accounting for about1/kloc-of the total size of similar funds in the United States (about 15.27 trillion US dollars). Since 2000, the average annual growth rate of FOF in the United States has reached 27%.
Summary: Now the FOF is the real FOF, let's wait and see!