Question 2: What is a capital preservation fund? Is there any risk? How to buy? Capital preservation fund is a large category of funds, which is increasingly favored by people in the volatile market. Because the operation of the capital preservation fund is to strive for higher returns on the premise of ensuring the principal is not lost, its operation is bound to be more stable. At present, domestic capital preservation funds are all hybrid funds. The capital preservation fund adopts a dynamic portfolio insurance technology (CPPI) to realize capital preservation, and invests most assets (insurance bottom line) in fixed-income securities to ensure that the principal can be recovered when the capital preservation expires; At the same time, a small part of the remaining funds (safety mat) will be invested in the stock market to obtain high returns in the stock market. If the stock market rises, the funds invested in the stock market calculated by CPPI will increase, thus increasing the investment income of the fund; On the contrary, when the stock market falls, the amount of funds invested in the stock market calculated by CPPI will decrease, and the fund will transfer some funds from the stock market to the bond market with less risk, thus avoiding the risk of stock market decline and ensuring that the total assets of the fund are not lower than the predetermined safety bottom line. The investment goal is to maximize the investment income on the premise of ensuring the safety of the principal.
The capital preservation fund is guaranteed by a well-funded third party. According to the Guiding Opinions on the Operation of Capital-guaranteed Securities Investment Funds, the guarantee institutions in principal guaranteed fund should meet the requirements of "paid-in capital of not less than 2 billion yuan; Its net assets are not less than 5 billion yuan; An enterprise that has been established and operated for more than three years and has legal personality; It has been profitable continuously for the last three years; The assets of the capital preservation fund shall not exceed twice its total net assets; There are no six major regulations such as major punishment in the last three years. So the guarantee is reliable and trustworthy. For example, the Galaxy Capital Protection Fund was approved by the Central Huijin Company and the Ministry of Finance, and china galaxy Financial Holding Company provided irrevocable joint and several liability guarantee. The guarantor of Nuoan Capital Guaranteed Hybrid Fund is China Investment Guarantee Co., Ltd.
Who is suitable to invest in the capital preservation fund? The target customers of the capital preservation fund should be people who are risk-averse and have a certain demand for capital preservation and appreciation. The main competitors of capital preservation fund products are bank time deposit products and a few capital preservation wealth management products, not equity funds. For high-risk investors who want to get high returns, it is not appropriate to buy capital preservation funds.
The main features of the capital preservation fund are: 1, which ensures the safety of the principal. Generally speaking, the capital preservation fund stipulates the security degree of the principal in the fund contract, and the capital preservation amount is generally equal to the investment amount corresponding to the fund shares subscribed and held by the fund share holders, that is, the sum of the net investment subscription amount, subscription fee and interest generated during the subscription period. "If the sum of the product of the expired fund shares and the net value of the fund shares on the maturity date of the capital preservation period plus the accumulated dividends of the fund shares held by them is lower than the capital preservation amount, the fund manager shall make up the difference". 2. Ensure the safety of the client for a period of time. Generally speaking, the principal can only be guaranteed if the investor participates in the whole process, and the last-in-first-out investor does not enjoy the capital preservation clause in the fund contract.
In the volatile market, ensuring the safety of principal has become the first choice for investors, so the capital preservation fund has become the focus of attention. But can the capital preservation fund protect the capital? The answer is not necessarily. Before buying a capital preservation fund, you must pay attention to the following points: 1, not all redemptions can enjoy capital preservation treatment. All capital preservation funds have a guarantee period, one chicken is 3 years, and the first guarantee period expires, which is in line with the terms of the capital preservation fund.
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Next, the fund continues to exist and enters the next capital preservation cycle. Only by holding it until the maturity date of the current period can you enjoy the treatment of capital preservation. If the fund holder redeems but does not hold it due, the capital preservation clause does not apply to the redemption part. 2. Most funds are not subscribed for capital preservation, only subscribed for capital preservation. Only Jinyuan Lian Bi Growth Enterprise Market Power (transformed into a hybrid fund after the guarantee expires on August 10) also provides capital preservation during the subscription period. If an investor buys a capital preservation fund during the subscription period, he can't enjoy the capital preservation treatment and get the principal guarantee regardless of whether he can hold it at maturity. For investors who want to buy a capital preservation fund during the subscription period, they must consider it carefully and don't buy it blindly. Funds converted before the expiration of the capital preservation period
Sharing will not be guaranteed. Therefore, investors who intend to purchase capital preservation funds should buy them in time during the subscription period. 3. Before buying a capital preservation fund, investors must calculate their own time account of fund use, see when they need money, and invest according to their actual capital needs. The capital preservation fund must be purchased with funds that are not needed during the guarantee period, otherwise it will be redeemed before the expiration of the capital preservation period, which will not only fail to preserve the capital ... >>
Question 3: What about the capital preservation fund? At present, only two kinds of funds are guaranteed:
1, the annualized rate of return of money funds is about 3-4%, and a good money fund can exceed 4%.
2, a part of the capital preservation fund, but the capital preservation of the capital preservation fund is required. First, it must be subscribed during the collection period, but not during the opening period. Secondly, it must be held for several years (usually three years) and meet these two requirements at the same time to protect the capital.
Welcome to ask questions, and wish you a smooth investment.
Question 4: Excuse me: What's the difference between growth funds and hybrid and capital preservation? Growth funds's investment goal is long-term capital appreciation. Investing in stocks or other securities of listed companies with good growth potential: stable growth in South China, growth in China, etc. Some growth funds have a wide range of investments, including many industries; Some growth funds's investment scope is relatively concentrated, such as concentrated investment in stocks of a certain industry or stocks whose value is considered undervalued. The price fluctuation in growth funds is generally greater than that of conservative income funds or money market funds, but the income is generally higher. Some growth funds also derived new types, such as fund growth fund, whose main goal is to strive for rapid growth of funds, sometimes even the maximum value-added in the short term, and generally invest in emerging industrial companies. Such funds are often highly speculative, so they fluctuate greatly. Hybrid funds refer to funds that can invest in stocks, bonds and money market instruments without clear investment direction. Where there are mixed funds or mixed funds in the fund name, funds with unclear stocks, bonds or currency categories are classified as mixed funds. According to the proportion of assets investment and its investment strategy, hybrid funds are divided into three secondary categories: partial stock funds, balanced funds and partial debt funds. Balanced funds are subdivided into two or three categories: stock-debt balanced funds and flexible allocation funds.
Capital preservation type: the fund is essentially a hybrid (balanced) fund, which mainly realizes the goal of maintaining and increasing the value of the fund through the strategic allocation of fixed-income assets (mainly bonds), stocks and derivative financial products (options) in the portfolio. This kind of fund products have low risk and don't give up the space of pursuing excess returns, so they are favored by investors, such as Hongkong, Singapore and Taiwan Province Province, where the stock market was depressed some time ago. In the bull market, because these products can share the gains brought by the stock market rise, their yield is not much worse than that of stock funds, so they also have strong market competitiveness. It can be said that both bull market and bear market capital preservation funds have strong selling points. The biggest feature of the capital preservation fund is that it has a holding period, otherwise the handling fee is very high.
Question 5: 1. Determination of breakeven point in diversified operations I. Development of capital protection fund The capital protection fund originated in the United States in the mid-1980s. Its core is portfolio insurance technology. Founded by finance professor Heini. Leland and MarkRubinstein of Berkeley University, this technology was first applied to the investment management practices of WellsFargoInverstmentAdvisors, AetnaLife and Casualty in 1983, and it flourished in the mid-1980s. Relevant information shows that by June 1987, the global fund assets managed by this insurance technology have reached 50 billion US dollars. According to the latest statistics of American Investment Fund Association (ICI), the total amount of guarantee funds and other funds except stocks, hybrid funds, bonds and money markets accounts for about 5% of the total assets of American funds. According to the information released by the European Federation of Investment Funds (FEFSI) at the end of 2002, guarantee funds have developed rapidly in Europe in recent years, which is obviously attractive to individual investors. As of July 2002, the assets of 2229 guarantee/protection funds have reached 654.38+250 billion euros, of which France, the Netherlands, Belgium and Luxembourg have a large market share. It is not difficult to see that the capital preservation fund has become one of the indispensable investment varieties in the capital market of developed countries. The first capital preservation fund issued by China and Hongkong is Citi Garant Tel&; Tech) and HSBC's 90% technology capital preservation fund, which were closed for 2.5 years and 2 years respectively, have now expired. Zheng Lingling, head of the research department of Morningstar Asia Company, analyzed that the market situation at that time was that "technology stocks plummeted, interest rates were lowered, and capital preservation funds mainly looked for bank deposit customers". By 200 1 and 2002, capital preservation funds had developed rapidly, with more than 100, far exceeding the traditional stock funds. In 2002, at most seven or eight capital preservation funds were launched at the same time. According to the statistics of Hong Kong Investment Fund Association, the sales of capital preservation funds, stock funds and bond funds accounted for 3%, 1 16% and-19% of the total sales in 2000, respectively, and the proportions changed greatly in 2006 1% and 2000' s 5%. As of March 3, 2003, the number of capital preservation funds in Hong Kong was 18 1, accounting for about 10% of the total funds. In April 2003, Taiwan Province Province launched the first capital preservation fund. Taiwan Province Securities Regulatory Commission has stipulated a series of standards and explanations for capital preservation funds, such as requiring the prospectus to fully reveal the nature and risks of capital preservation funds, and clearly telling the setting parameters of capital preservation funds, such as capital preservation rate, participation rate, investment period and standards of guarantee institutions. Second, the main characteristics of the capital preservation fund internationally, the capital preservation fund can be divided into two types: capital preservation and capital preservation, of which the capital preservation fund does not need a third party to provide guarantee. Generally speaking, a capital preservation fund invests most of its assets in fixed-income bonds, so as to pay the investor's principal when the fund expires, and the remaining assets are about 15%-20% invested in stocks and other tools to improve the return potential. The main features of the capital preservation fund are: 1, which ensures the safety of the principal. The general capital preservation foundation clearly stipulates the degree of security of the principal in the fund contract, and the degree of capital preservation includes partial guarantee of the principal security, such as guaranteeing 90% of the principal; 2. Ensure the safety of the client for a period of time. Generally speaking, the principal can only be guaranteed if the investor participates in the whole process, and the last-in-first-out investor does not enjoy the capital preservation clause in the fund contract. In essence, the capital preservation fund is a hybrid (balanced) fund, which mainly realizes the goal of maintaining and increasing the value of the fund through the strategic allocation of fixed-income assets (mainly bonds), stocks and derivative financial products (options) in the portfolio. This kind of fund products have low risk, and they don't give up the space of pursuing excess returns. Therefore, this kind of products are favored by investors, such as Hongkong, Singapore and Taiwan Province Province, which guaranteed their capital when the stock market was depressed some time ago. In the bull market, because these products can share the gains brought by the stock market rise, their yield is not much worse than that of stock funds, so they also have strong market competitiveness. It can be said that both bull market and bear market capital preservation funds have strong selling points. Capital preservation funds have been popular abroad for many years, because no matter how many markets there are or how empty they are, they will not affect daily life ... >>
Question 6: What is sp Fund? Capital preservation funds originated in the United States in the mid-1980s. Its core is portfolio insurance technology. Founded by finance professor Heini. Leland and MarkRubinstein of Berkeley University, this technology was first applied to the investment management practices of WellsFargoInverstmentAdvisors, AetnaLife and Casualty in 1983, and it flourished in the mid-1980s. Relevant information shows that by June 1987, the global fund assets managed by this insurance technology have reached 50 billion US dollars. According to the latest statistics of American Investment Fund Association (ICI), the total amount of guarantee funds and other funds except stocks, hybrid funds, bonds and money markets accounts for about 5% of the total assets of American funds. According to the information released by the European Federation of Investment Funds (FEFSI) at the end of 2002, guarantee funds have developed rapidly in Europe in recent years, which is obviously attractive to individual investors. As of July 2002, the assets of 2229 guarantee/protection funds have reached 654.38+250 billion euros, of which France, the Netherlands, Belgium and Luxembourg have a large market share. It is not difficult to see that the capital preservation fund has become one of the indispensable investment varieties in the capital market of developed countries. The first batch of capital preservation funds issued in China and Hongkong are Citigroup Technology Capital Preservation Fund & Tech and HSBC 90% Technology Capital Preservation Fund, which were launched in March 2000. They were closed for 2.5 years and 2 years respectively, and all of them have expired. Zheng Lingling, head of the research department of Morningstar Asia Company, analyzed that the market situation at that time was that "technology stocks plummeted, interest rates were lowered, and capital preservation funds mainly looked for bank deposit customers". By 200 1 and 2002, capital preservation funds had developed rapidly, with more than 100, far exceeding the traditional stock funds. In 2002, at most seven or eight capital preservation funds were launched at the same time. According to the statistics of Hong Kong Investment Fund Association, the sales of capital preservation funds, stock funds and bond funds accounted for 3%, 1 16% and-19% of the total sales in 2000, respectively, and the proportions changed greatly in 2006 1% and 2000' s 5%. As of March 3, 2003, the number of capital preservation funds in Hong Kong was 18 1, accounting for about 10% of the total funds. In April 2003, Taiwan Province Province launched the first capital preservation fund. Taiwan Province Securities Regulatory Commission has stipulated a series of standards and explanations for capital preservation funds, such as requiring the prospectus to fully reveal the nature and risks of capital preservation funds, and clearly telling the setting parameters of capital preservation funds, such as capital preservation rate, participation rate, investment period and standards of guarantee institutions. [Edit this paragraph] The main characteristics of capital preservation funds Internationally, capital preservation funds can be divided into two types: capital preservation funds and capital preservation funds, among which capital preservation funds do not need guarantees from third parties. Generally speaking, a capital preservation fund invests most of its assets in fixed-income bonds, so as to pay the investor's principal when the fund expires, and the remaining assets are about 15%-20% invested in stocks and other tools to improve the return potential. The main features of the capital preservation fund are: 1, which ensures the safety of the principal. The general capital preservation foundation clearly stipulates the degree of security of the principal in the fund contract, and the degree of capital preservation includes partial guarantee of the principal security, such as guaranteeing 90% of the principal; 2. Ensure the safety of the client for a period of time. Generally speaking, the principal can only be guaranteed if the investor participates in the whole process, and the last-in-first-out investor does not enjoy the capital preservation clause in the fund contract. In essence, the capital preservation fund is a balanced fund, which mainly realizes the goal of maintaining and increasing the value of the fund through the strategic allocation of fixed-income assets (mainly bonds), stocks and derivative financial products (options) in the portfolio. This kind of fund products have low risk and do not give up the space of pursuing excess returns, so this kind of products are favored by investors. For example, in Hongkong, Singapore and Taiwan Province Province, capital preservation funds were very popular during the recent stock market downturn. In the bull market, because these products can share the gains brought by the stock market rise, their yield is not much worse than that of stock funds, so they also have strong market competitiveness. It can be said that both bull market and bear market capital preservation funds have strong selling points.
Question 7: What kinds of funds are there? Who are the derivatives of trust funds and mutual funds? Let's start with the derivatives of trust funds and mutual funds.
Trust fund: actually, it is a trust product issued by a trust company, which is mainly based on loans and has less equity investment. Of course, there are also trusts that invest in financial markets. This kind of trust is actually a mutual fund.
* * * One Fund: In China, the official name of the same fund is the Securities Investment Trust Fund. The main investment targets are securities such as stocks, futures, bonds and short-term bills.
From this perspective, the investment scope of a trust fund is wider than that of the same fund. To say that derivative funds are derivatives of trust funds.
Now back to the type of fund:
According to the organizational form of the fund (product structure):
1, enterprise funds. Funds established in accordance with the Company Law. Set up a company to operate and manage investors' money.
2. Contract funds. It is a trust and investment fund, which is established by investors, fund companies and fund custody companies through trust and investment agreements. Investors are responsible for investing money, fund companies are responsible for investment decision-making and management, and custodians are responsible for managing money.
Evaluation: According to the Company Law, investors are shareholders. Have the right to vote on the company's decisions.
Contract funds are based on securities investment funds. Investors who buy beneficiary certificates have no investment decision-making power.
Depending on whether and how it can be redeemed:
1, open-end fund. Banks, securities companies and Public Offering of Fund sell the most. It is also the most common category for investors. 1000 yuan can be bought.
2. Closed-end funds. Limit the total amount and duration. Can be bought and sold on the exchange. By hand, at least 1 hand.
According to the investment style of the fund:
1, growth fund. Invest in high-growth stocks.
2. Income-oriented funds. Invest in stocks that can bring cash income.
3. Balanced fund. Investing in stocks between growth and profitability.
According to the form of fund management:
1. Actively manage funds. Positive management strategy, that the market is invalid.
2. Passive management of funds. Negative management strategy, thinking that the market is effective. The most typical is the index fund.
According to the classification of investment objects:
1, equity fund. Invest in stocks. High risk and high return.
2. Bond funds. Investment bonds. The risk is small and the income is low.
3. Hybrid funds. Investing in stocks and bonds.
4. Monetary funds. Average income and high safety. This is the type of Yu 'ebao.
5. Other funds. For example, futures funds, option funds, real estate funds, precious metal funds and so on.
By source of funds and region:
1, domestic funds. These funds come from China and are invested in the domestic financial market.
2. International funds. These funds come from China and are invested in the international financial market. It can be divided into regional investment funds and global investment funds.
3. Offshore funds. The funds come from abroad and are invested in foreign financial markets. Generally located in the "tax haven" Cayman Islands and Bermuda.
4. National funds. Capital comes from abroad and is invested at home.
Other types:
1. Funds in funds. The risk of FOF is lower than that of equity funds. Fund managers of equity funds choose stocks, and fund managers of FOF choose funds, so the risk should be low.
2. Capital preservation fund. Use combination insurance technology. Two words: capital preservation. stable
3. Listed open-end funds (LOF). It is the innovation of open-end fund trading mode.
4. Trading open index funds (ETFs). Essentially, it is an index open-end fund and a passive fund.
5. Graded funds. Contains structured design.
6. Short-term financial management fund. An innovation fund appeared on 20 12. Innovative bond funds for short-term financial markets.
That's about it.
Question 8: What's the difference between hybrid funds and index funds? What is the difference? Hybrid funds, involving stocks, bonds, cash and so on, are all within a certain proportion according to the contract. Index funds are passive, that is, most of them are allocated according to the corresponding indexes, and their spirituality is relatively small. The advantages of fund managers are not obvious. But the net value is not completely according to the index, because there may be small changes in positions. Index funds include ETF, CSI 100 index fund and CSI 300 index fund. The above is my understanding in practical work. I hope it works for you.
Question 9: Our company is a private equity fund and a fixed income company, and wants to enter the bank. What do we do? Conventional financial management.
Question 10: What does the net bond value 1 mean?