2. Many index funds are compiled on the basis of Shanghai Stock Exchange Index.
1, fund, generally refers to a certain amount of funds established for a certain purpose. Mainly including trust and investment funds, provident funds, insurance funds, retirement funds and various foundations.
2. From the accounting point of view, capital is a narrow concept, which refers to funds with specific purposes and purposes. The fund we are talking about mainly refers to the securities investment fund.
3, according to different standards, securities investment funds can be divided into different types:
(1) According to whether the fund units can be added or exchanged, it can be divided into open-end funds and closed-end funds. Open-end funds are not listed and traded (as the case may be), and the fund scale is not subscribed and exchanged by banks, securities companies and fund companies; Closed-end funds have a fixed duration, usually listed and traded on the stock exchange, and the fund shares are bought and sold through the secondary market.
(2) According to different organizational forms, it can be divided into corporate funds and contractual funds. A fund that establishes an investment fund company by issuing fund shares, usually called a company fund; Funds are established by fund managers, fund custodians and investors through fund contracts, which are usually called contractual funds. All securities investment funds in China are contractual funds.
(3) According to the different investment risks and returns, it can be divided into growth funds, income funds and balanced funds.
(4) According to different investment projects, it can be divided into stock funds, bond funds, money market funds and futures funds.
4. Trust funds of closed-end funds refer to the scale determined after and before issuance and traded in the securities market.
5. As the closed-end fund trading in the stock exchange adopts competitive bidding, the transaction price is affected by the relationship between market supply and demand, which does not necessarily reflect the net asset value of the fund, that is, there are premiums and discounts for closed-end funds relative to their net asset value. The practice of diplomatic closed-end funds shows that there is often a price fluctuation method before discount. Judging from the operation of closed-end funds in China, no matter how the basic situation changes, the transaction price trend of closed-end funds in China has never deviated from the price fluctuation method of premium, and will be discounted in the future.