Funds can be divided into broad sense and narrow sense. Broadly speaking, a fund refers to a certain amount of funds set up for a certain purpose.

Such as trust and investment funds, provident funds, insurance funds, retirement funds and various foundations. People usually refer to funds mainly as securities investment funds.

There are three main analysis methods of securities investment: basic analysis, technical analysis and evolution analysis, in which the basic analysis is mainly applied to the value judgment and selection of investment objects, while the technical analysis and evolution analysis are mainly applied to the time and space judgment of specific investment operations as an important supplement to improve the effectiveness and reliability of securities investment analysis.

Funds can not only invest in securities, but also invest in enterprises and projects. By issuing fund shares, fund management companies concentrate investors' funds, which are managed by fund custodians (that is, qualified banks) and managed and used by fund managers to invest in financial instruments such as stocks and bonds, and then * * * bear the investment risks and share the benefits.

After understanding the definition of funds, Bian Xiao takes you to see various funds, the more common ones are:

1. Convertible corporate bond fund.

Invest in convertible corporate bonds. When the stock market is depressed, you can enjoy the fixed interest income of bonds. When the stock market has a good prospect, it can be converted into stocks according to the conversion conditions agreed at the beginning, which has the characteristics of "attacking in advance and defending in retreat".

2. Index funds.

The composition and proportion of individual stocks in the fund portfolio are determined according to the sample constituent stocks and proportion of the market index as the investment target. The goal is that the fund's net value is close to the index performance, regardless of investment strategy. As long as the index stocks change, the fund manager will follow suit and change the shareholding ratio. Because of its simplicity and high investor acceptance, indexed investment is also the most commonly used investment method in the American fund system.

3. Funds in funds.

As the name implies, the investment target of such funds is funds, so it is also called portfolio funds. After the fund company collects the clients' funds, it reinvests them in its own or other fund companies' funds with the most value-added potential to form a portfolio. There is no such variety in China at present.

4. Umbrella fund.

Umbrella fund consists of a group of sub-funds that invest in different targets, and each sub-fund is managed independently. As long as you invest in any sub-fund, you can switch to another sub-fund at will without extra cost.

5. Hedge funds.

This kind of fund gives the fund manager full authorization and freedom in the use of funds. The performance of the fund depends on the trading skills of the fund manager and the foresight of the topics with profit potential. As long as the fund manager thinks that "profitable" investment strategies can be used, such as taking the spread of long-term and short-term interest rates; Use options and futures index to arbitrage in foreign exchange market, bond market and stock market. In short, any investment strategy can be used. This kind of fund has the highest risk. In foreign countries, it is issued specifically for people or institutions with high income and high risk tolerance, and generally does not accept retail investment.

In addition to the above classification methods, there are some special types of funds.

1, equity fund.

The investment target is the shares of listed companies. The main income is the capital gain of stock rising. The net value of the fund changes with the market price of the stocks invested. The risk is higher than that of bond funds and money market funds, and the relative expected return is also higher. According to the target industry, stock funds can be divided into various industrial funds, which are commonly classified as high-tech stocks, biotechnology stocks, industrial stocks, real estate stocks, public stocks, communication stocks and so on.

2. Bond funds.

The investment target is bonds. Interest income is the main source of income for bond funds. The fluctuation of exchange rate and bond market price also affect the overall return of fund investment. Usually, when the interest rate in the market is expected to fall, the bond market price will rise; When interest rates rise, bond prices fall. Therefore, bond funds are not necessarily profitable, but there are still risks.

3. Money market funds.

The investment targets are money market commodities with excellent liquidity, such as deposits, national debt and repurchase within 365 days. And earn higher income equivalent to large financial transactions.