Fund is an indirect way of securities investment. 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. According to different standards, securities investment funds can be divided into different types:-according to whether fund units can be increased or redeemed, they can be divided into open-end funds and closed-end funds. Open-end funds are not listed and traded, but are generally purchased and redeemed by banks, and the fund scale is not fixed; Closed-end funds have a fixed duration, and the fund size is fixed during the duration. Generally listed on the stock exchange, investors buy and sell fund shares through the secondary market. According to different organizational forms, it can be divided into corporate funds and contractual funds. A fund is established by issuing fund shares to establish an investment fund company, which is usually called a corporate fund; The establishment of fund managers, fund custodians and investors through fund contracts is usually called contractual funds. At present, China's securities investment funds are all contractual funds. According to the difference of investment risk and income, it can be divided into growth fund, income fund and balanced fund. According to different investors, it can be divided into stock funds, bond funds, money market funds and futures funds. Buying a fund is very simple. You can trade it in the securities hall, that is, the secondary market, just like ordinary stock investment. It can also be purchased through a bank that cooperates with the fund. Many banks have fund sales, Industrial and Commercial Bank of China and China Construction Bank. If you want to buy it, you can ask about the relevant expenses and interest ratio in detail; Then study the internal situation and past performance of fund management companies. Funds have also gone up and down. Two common skills of buying funds: 1. Spread your money at different times and buy a certain value fund every month. Example: market value 1000 yuan1000 0.80961235 0.970310301880 8421.4355. If you buy 1000 sets every month, the average cost is 1. 1 175. Unless you tell me when the fund will rise and fall. 2. Maintain the proportion of various investment types. For example, I keep 50% of equity funds, 35% of monetary funds and 15% of bond funds. When the proportion of equity funds increases, I will redeem some equity funds and switch to the other two to keep the proportion. This paper is one of the popular science series of financial investment knowledge, which is mainly aimed at people who lack basic financial knowledge and financial management knowledge. This is not a professional article. Therefore, in order to be easy to understand, some concepts are not guaranteed to fully meet the professional requirements, but friends are welcome to criticize and correct them in order to improve them. Recently, many netizens often ask what the fund is about, as if the fund is a very complicated thing, and they all say that they can't understand the fund knowledge articles recommended for reading. So I often think about how to make these friends understand what a fund is and show it to you in the shortest time, so I have an idea to explain what a fund is in popular language as much as possible, hoping to help these friends understand the fund as soon as possible. Suppose you have a sum of money to invest in bonds, stocks and other securities to increase the value, but you have no energy or professional knowledge, and the money is not too much, so you want to invest in partnership with other 10 people and hire an investment expert (theoretically higher than me) to operate the assets invested by everyone to increase the value. But there, if investors above 10 negotiate with investment experts at any time, it won't be chaotic, so they recommend someone who knows the most about it to take the lead. Give him a certain percentage of everyone's assets on a regular basis, and he will pay the master service fee on his behalf. Of course, he will take the lead in making arrangements for big and small things, including running errands from door to door, reminding the master of risks at any time, and regularly announcing the investment profits and losses to everyone. , so I didn't come for nothing, and the money in the commission also has his service fee. These things are called partnership investment. Enlarge this partnership investment model by 100 times and 1000 times, which is the fund. This kind of private partnership investment activity belongs to private equity fund if a complete contract is established between investors (which has not been recognized by the relevant laws and regulations of the national financial industry supervision in China). If this partnership investment activity is approved by the national securities regulatory authority (China Securities Regulatory Commission), and the lead operator of this activity is allowed to make a public offering to attract investors to join the partnership investment, this is the issuance of publicly offered funds, which is a common fund now.