The time is not clearly specified. Fund rankings are based on annual returns and performance after settlement on the last trading day of the year. However, the time when each fund company announces its performance is not certain. Fund, English is fund, generally refers to a certain number of funds established for a certain purpose. It mainly includes trust investment funds, provident funds, insurance funds, retirement funds and various foundation funds. From an accounting perspective, a fund is a narrow concept that refers to a fund with specific purposes and purposes. The funds we mention mainly refer to securities investment funds.

1. According to different standards, securities investment funds can be divided into different types: According to whether fund units can be added or redeemed, they can be divided into open-end funds and closed-end funds. Open-end funds are not listed for trading (depending on the situation), and the fund size is not fixed through subscription and redemption by banks, securities companies, and fund companies; closed-end funds have a fixed term and are generally listed and traded on stock exchanges. Investors buy and sell fund units through the secondary market. According to different organizational forms, they can be divided into corporate funds and contract funds. The fund is an investment fund company established by issuing fund shares, usually called a corporate fund; it is usually called a contract fund, which is established through fund contracts by fund managers, fund custodians and investors. my country's securities investment funds are contract funds.

2. According to the differences in investment risks and returns, they can be divided into growth funds, income funds and balanced funds. According to different investment objects, they can be divided into stock funds, bond funds, money market funds, futures funds, etc. Trust funds refer to investment funds whose size is determined before issuance, the term is determined after issuance, and are traded in the securities market. Since closed-end funds are traded on stock exchanges through bidding, their trading prices are affected by market supply and demand and do not necessarily reflect the net asset value of the fund. That is, the trading price of closed-end funds is discounted at a premium relative to its net asset value. Phenomenon. The practice of foreign closed-end funds shows that there is often a price fluctuation pattern of first premium and then discount. Judging from the operation of my country's closed-end funds, no matter how the fundamentals change, the trading price trend of my country's closed-end funds has never deviated from the price fluctuation pattern of first premium and then discount.

3. The relationship between open-end funds and closed-end funds Open-end funds and closed-end funds constitute the two basic operating models of funds. Open-end funds refer to investment funds whose scale is not fixed but can issue new shares or redeem them at any time based on market supply and demand. Closed-end funds are different from open-end funds. They refer to investment funds whose size is determined before issuance and within a specified time after issuance. Before 2004, open-end funds were not listed and traded on stock exchanges, and were generally purchased, sold, and redeemed through sales institutions such as banks or direct sales centers. After 2004, China innovated the way open-end funds operate and allowed some open-end funds to be listed and traded on stock exchanges. The open-end fund has become a listed open-end fund (LOF). The size of the fund is not fixed, and fund units can be sold to investors at any time or repurchased at the request of investors.