1. The announcement time of the fund's net value is generally around 22:00 on the same day and can be seen the next morning.
2. The net fund share is the net asset value of each fund share, which is equal to the balance of the total assets of the fund minus the total liabilities, and then divided by the total number of shares issued by the fund. The subscription and redemption of open-end funds are carried out at this price. The transaction price of closed-end fund is the known market price at the time of transaction; In contrast, the transaction price of fund shares of open-end funds depends on the net asset value of unknown share funds at the time of subscription and redemption on the next trading day (but it can be calculated after the market closes on the same day and announced on the trading day).
1. Open-end fund, also known as mutual fund, refers to a fund operation mode in which fund sponsors sell fund shares or shares to investors at any time when setting up a fund. Investors can redeem the issued fund shares or stocks according to the requirements of investors. Investors can use institutional investors' fund sales machines to purchase funds, which also increases the assets and scale of funds accordingly. They can also sell their fund shares to the fund and recover cash, thus reducing the assets and scale of the fund accordingly.
2. From different angles, we can divide open-end funds into different categories. According to whether it can be listed and traded on the stock exchange, open-end funds can be divided into listed and traded open-end funds and contractual open-end funds.
3. Listed open-end funds refer to securities investment funds whose fund shares are listed and traded on the stock exchange. The counterparties of such funds are all kinds of investors. For example, exchange traded index funds (ETFs) and listed open-end funds (lof).
4. Contractual open-end funds refer to securities investment funds whose fund shares cannot be listed and traded on the stock exchange. Although such funds cannot be listed and traded on the stock exchange, they can be traded through "subscription" and "redemption". The counterparties of such funds are investors and fund companies.
5. According to different investment objects, open-end funds can be divided into stock funds, bond funds, mixed funds, money market funds, futures funds, option funds, warrants funds and so on.
6. Equity funds refer to investment funds that invest in stocks (the proportion of stock investment accounts for more than 80%); Bond funds refer to investment funds that invest in bonds (bond investment accounts for more than 80%); Hybrid fund refers to the fund whose investment ratio of stocks and bonds is between the above two types of funds and can be flexibly adjusted; Money market funds refer to investment funds with treasury bills, negotiable certificates of deposit of large banks, commercial bills, corporate bonds and other short-term money market securities as investment targets; Futures funds refer to investment funds with various futures varieties as the main investment targets. Option fund refers to an investment fund with dividend-paying stock options as the investment target; Warrant fund refers to an investment fund with warrants as its investment target.
7. In addition, according to different investment styles, we divide stock funds into growth funds, value funds and hybrid funds. Growth stock fund refers to the fund that mainly invests in growth stocks with fast income growth and great future development potential; Value stock funds refer to funds that mainly invest in undervalued and safe stocks. The risk of value stock funds is lower than that of growth stock funds, and the risk of hybrid stock funds is somewhere in between.