Refers to the account opened by the fund registration institution for fund investors to record the fund share balance held by the fund manager and its changes;

Fund account number

The fund account number is the account identification number assigned to the customer by the fund company. A natural person can only open one fund account in a fund company, corresponding to one fund account number.

Fund share holder

Refers to the fund investors who have legally obtained fund shares according to the Fund Contract and related documents;

Individual investor

Refers to the China residents who legally hold the resident identity card of the People's Republic of China or other legal identity documents that are valid at that time;

workday

Refers to the normal trading days of Shanghai Stock Exchange, Shenzhen Stock Exchange and other relevant securities trading places;

Open Day

Refers to the working days for fund investors to purchase and redeem funds;

T day

Refers to the day when the fund manager receives the application within the processing time of fund subscription, subscription and redemption;

T+n days

Refers to the nth working day from T day (excluding T day);

Bid for purchase

Refers to the behavior of fund investors to purchase the fund shares of the fund during the fund raising period;

Apply for purchase

Refers to the behavior of fund investors to purchase the fund shares of the fund after the fund contract comes into effect;

ransom

Refers to the behavior that the fund share holder asks the fund manager to buy back the fund share of the fund according to the conditions agreed in the fund contract after the fund contract comes into effect;

Fund income

Refers to bond interest, bank deposit interest, interest spread between buying and selling securities, bill interest income, bond repurchase income, other legal income realized and costs and expenses saved by using fund assets;

Total assets of the fund

Refers to the sum of all kinds of securities purchased by the fund, principal and interest of bank deposits, interest of bonds receivable and other assets;

Net asset value of fund

Refers to the value of the total assets of the fund after deducting the liabilities of the fund;

Periodic quota

Refers to the business that investors subscribe for the Fund in the way, time and amount agreed with the fund sales organization in advance;

Fund conversion

It refers to the business that investors can freely switch to other open-end funds managed by a fund management company after holding any open-end fund issued by the company, without redeeming the fund shares they have held before purchasing the target fund;

force majeure

Refers to any event that the parties can't foresee, overcome or avoid, including but not limited to natural disasters such as floods and earthquakes, wars, riots, fires, government expropriation, confiscation, legal changes, sudden power failure, abnormal shutdown of computer systems or data transmission systems or other emergencies, abnormal suspension or suspension of trading in securities trading places, etc.

The first letter of the Greek alphabet.

An indicator to measure the investment performance of a fund portfolio, which is a risk-adjusted income indicator. Positive (negative) value representation

The fund's investment income performance is higher (lower) than the income level corresponding to the fund asset risk (measured by β value). while

When the return of fund portfolio is highly correlated with the return of market index, Alpha and beta are very effective investment performance measures.

Quantitative indicators. Alpha values are usually calculated in years.

beta

A historical indicator to measure the sensitivity of a security or portfolio to changes in market returns. For example. Shanghai composite index

If the number increases (decreases) by 5%, the stock price with the expected Beta value of 1.5 is expected (other factors being constant).

It will go up (down) by 7.5%.

Growth income fund

Such funds pursue both long-term capital appreciation and short-term dividend income. Some funds have more weight in their portfolios.

In order to pursue long-term capital proliferation, other funds may be more inclined to pursue short-term dividend income.

Growth fund

The investment goal of such funds is long-term capital proliferation. Some growth funds have a wide range of investments, including many industries; one

Some growth funds's investment scope is relatively concentrated, such as stocks focused on a certain industry or stocks whose value is considered undervalued.

Stock. The price fluctuation in growth funds is generally greater than that of conservative income funds or money market funds, but the income is average.

Be tall, too.

duration

An indicator to measure the sensitivity of bond prices to changes in interest rates. For example, if the interest rate rises 1%, then other factors remain unchanged.

In this case, the market value of the five-year bond portfolio is expected to fall by 5%.

Net asset value

That is, the net value of each fund unit is equal to the balance of the total assets of the fund MINUS the total liabilities and then divided by the total unit share of the fund.

Count.

yield to maturity

Long-term interest-bearing investments, such as bonds, will be held by investors until the maturity date, and the rate of return that investors will receive. Expired set

The profit rate considers the following factors: purchase price, redemption price, holding period, coupon rate and interest payment interval.

Length, etc.

Hedge fund (hedge fund)

Hedge fund means "risk hedge fund", and its operation purpose is to use financial derivatives such as futures and options.

Short selling and risk hedging of products and different related stocks can be avoided to some extent.

Resolve the risk of securities investment.

Venture capital (venture capital)

Also known as "risk fund". It is a way to raise funds by private placement, set up in the form of companies and other organizations, and invest in them.

Emerging small and medium-sized enterprises (especially emerging high-tech enterprises) in cities are a form of capital that bears high risks and pursues high returns.

State. In China, the so-called "industrial investment funds" belong to venture capital funds.

close-ended fund

According to whether the fund can be redeemed, securities investment funds can be divided into open-end funds and closed-end funds. Closed-end fund refers to

An investment fund whose fund size has been determined before issuance and whose fund size is fixed within a specified period after issuance.

Public norms

Refers to the fund profile, fund portfolio announcement, fund operation performance and important changes published regularly after the establishment of the fund.

Explanation of other matters that should be disclosed according to law.

Corporate fund

Securities investment funds can be divided into contractual investment funds and corporate investment funds according to their different organizational forms. investment in enterprise

Capital fund refers to investors with the same investment objectives, which are established according to the company law for the purpose of making profits and investing in specific objects (

Such as various securities and currencies. This kind of fund raises money by issuing stocks, which is

An economic entity with legal personality.

* * * mutual funds

Investment funds are called "mutual funds" in America.

stock

Stock is a stock issued by a joint stock limited company to investors when raising capital. It represents its holders (that is, shareholders)

) the ownership of the joint-stock company.

Stock fund

Stock fund is an investment fund with stocks as the investment object, and it is the main type of investment fund.

red chip stocks

The concept of red chips was born in the Hong Kong stock market in the early 1990s. Hong Kong and international stock investors registered overseas.

Chinese mainland-related stocks listed in Hongkong become red chips.

money market fund

Money market funds refer to funds that invest in short-term securities in the money market. The assets of the fund are mainly invested in the short term.

Short-term monetary instruments, such as treasury bills, commercial paper, bank time deposit certificates, government short-term bonds, corporate bonds and other short-term securities.

witness

base point

1% 1%. The yield difference of fixed income securities is usually expressed by basis points.

bond holder

That is, fund investors refer to fund units or holders of beneficiary certificates. Fund holders can be natural persons or legal persons.

People. The fund holder is the ultimate owner of the fund assets, and his rights include: the right to repay the principal, the right to distribute the income and the right to participate.

The holder's right to vote at the shareholders' meeting.

Fund holders' meeting

The fund holders' meeting is the highest authority of contractual funds, which is attended by all fund share holders or entrusted representatives.

Fund issuance

Fund issuance refers to the act of selling fund certificates or beneficiary certificates to investors, which is one of the operation modes of investment funds.

Basic links. The contents of fund issuance include determining the issue target, issue date, sales form, issue price and issue quantity.

The amount and place of issuance, etc.

Fund expenses

Investment funds must pay a certain fee in the operation process. These expenses are fund expenses and constitute the fund.

Sources of income of managers, custodians and other parties. Generally speaking, fund expenses include three categories, one is in the fund.

The expenses incurred in the process of establishment, sale and redemption shall be directly borne by the investors; Second, during the operation of the fund.

Management expenses; The third is the transaction cost of the fund when buying and selling securities. The second and third types of expenses are paid by the fund assets.

Fund company

The main body of corporate funds is fund companies, which are joint-stock companies that raise funds through issuing stocks and invest in the securities market.

Organization. Investors become shareholders of fund companies after buying their shares.

Fund management fee

The fund management fee is the management remuneration paid to the fund manager, and its amount is generally in accordance with a certain proportion of the fund's net assets, from

Withdraw from fund assets.

fund manager

Fund manager refers to relying on professional knowledge and experience, using the assets of managed funds, according to laws, regulations and funds.

According to the company's articles of association or the fund contract, make investment decisions according to the scientific portfolio principle, and seek the managed fund assets.

An institution that continuously increases its value and enables fund holders to obtain as much income as possible.

fund price

The price of closed-end funds includes the issue price in the primary market and the transaction price in the secondary market. Issue price of the fund

Refers to the price determined by the fund issuer to sell the fund shares to fund investors when the fund is issued; Market price of the fund

Grid refers to the price at which fund investors buy and sell fund shares in the securities market. The price of an open-end fund refers to the fund holder.

The price of purchasing or redeeming a fund unit from a fund company is calculated according to the net asset value of the fund.

Fund contract

Fund contracts refer to fund managers, fund custodians and fund sponsors for the purpose of establishing investment funds.

A written document on the relationship between rights and obligations of both parties.

Fund listing

Fund listing is aimed at closed-end funds. Open-end funds are circulated through investors' subscription and redemption.

. Fund listing refers to the fund that meets the listing conditions of the stock exchange and is approved to be listed and traded on the stock exchange.

Fund income

Fund income is the part of fund assets that exceeds their own value in the process of operation. Specifically, the fund income portfolio

Including dividends, bonuses, bond interest, price difference between buying and selling securities, deposit interest and other income from fund investment.

Fund custody fee

The fund custody fee refers to the fee charged by the fund custodian to provide services for the fund. Custody fees usually

According to a certain proportion of the fund's net asset value, it is calculated and accumulated daily and paid to the custodian at the end of the month. So is this fee.

The payment from the fund assets does not need to be charged to investors.

Fund custodian

The fund custodian is the representative of investors' rights and interests, and is the nominal holder or management institution of fund assets. In order to ensure the fund's funds

For the sake of property safety, the Fund operates according to the principle of separation of asset management and custody, and is kept by a special fund custodian.

Fund assets. In China, according to the Interim Measures for the Administration of Securities Fund Investment, there is only Industrial and Commercial Bank of China at present.

Five commercial banks, namely Agricultural Bank of China, Bank of China, China Construction Bank and Bank of Communications, are qualified as custodians.

Pieces.

Fund sales expenses

Sales expenses, also known as subscription fees, that is, the handling fee paid when purchasing funds, are to pay commission for fund promotion and brokerage.

The charge is over.

fund of funds

Funds in funds are funds that invest in other securities investment funds, and their investment portfolio consists of various fund groups.

All right.

blue chip stock

Shares of companies with outstanding performance. In China, the main indicators to measure blue-chip stocks are after-tax profit per share and return on net assets.

In foreign countries, blue-chip stocks mainly refer to the stocks of large companies with excellent performance and relatively stable performance.

open-ended fund

According to whether the fund can be redeemed, securities investment funds can be divided into open-end funds and closed-end funds. Open-end fund refers to

The scale of the fund is not fixed, but it can issue new shares or be redeemed by investors at any time according to market supply and demand.

Investment funds.

callable bond

Allow or require bond issuers to pay a predetermined price (usually parity or premium) before the maturity date of bonds.

), issue a redemption notice in the way specified in the bond prospectus, and redeem part or all of the bonds.

convertible bonds

Corporate bonds that can be converted into issuer's shares under certain conditions.

Junk bonds/stocks

The junk stock index refers to the stocks of companies with poor performance.

Low-priced but risky bonds

Also known as high-yield bonds, refers to those bonds with a rating below Baa/BBB, compared with investment-grade bonds.

, has the characteristics of highly speculative.

blue chip stock

In overseas markets, investors put those who occupy an important leading position in their industries, have excellent performance and are active in trading.

Shares of large companies with rich dividends become blue chips. The word "blue chip" comes from western casinos. Blue, red and white

In the yard, blue chips are the most valuable.

zero coupon bond

There is no regular interest payment during the bond holding period, and the money paid by investors when buying is only at face value (this

Gold) after a certain discount, investors will get all the principal on the maturity date. Bond principal and issue date

The difference between prices is the interest earned by bondholders.

American depositary receipts

A negotiable receipt representing a certain number of shares of a foreign company. American depositary receipts are the same as other domestic stocks in the United States.

In the American stock market, tickets are traded in dollars.

Annuity (annuity)

An insurance policy issued by an insurance company. According to this contract, the insured must pay an insurance premium to the insurance company every year before retirement.

Divide the money, and after retirement, buyers can have a stable income every year. Annuities can be fixed or

Floating. Fixed annuity pays fixed interest to the purchaser, and the interest rate is adjusted regularly according to the contract; And bought a floating annuity.

The amount paid by the buyer depends entirely on the investment income of the investment account selected by the buyer.

Euro-dollar

Dollars held by foreign institutions outside the United States are usually used to clear international transactions.

Eurobond

Global bonds issued and traded outside the borrowing country are usually not restricted by the issuance and trading of any country.

Supervision and management.

Balanced fund

Balanced fund is a fund that pursues both long-term capital appreciation and current income. These funds mainly invest in bonds,

Preferred stocks and some common stocks, which have a relatively stable portfolio ratio in the portfolio, generally put assets.

25% to 50% of the total amount is used for preferred shares and bonds, and the rest is used for common stock investment. Its risk and return are between 10% and 20%.

Between long-term funds and income-oriented funds.

common stock

Common stock refers to shares that enjoy common rights in the company's management, profit and property distribution. Common rights include

: the company's right to participate in decision-making, profit distribution, preemptive right and surplus property distribution. It is the most basic and heaviest stock.

The required form.

Contraction fund

Securities investment funds can be divided into contractual investment funds and corporate investment funds according to their different organizational forms. contractual investment

Capital funds, also known as trust and investment funds, are based on certain trust deed principles and are composed of fund sponsors and fund managers.

An investment fund established by a fund custodian through a fund contract.

Bid for purchase

Subscription refers to the behavior of investors applying to buy fund shares during the period of fund issuance and raising.

Apply for purchase

Subscription refers to the behavior of investors applying to the fund manager to purchase fund shares during the existence of the fund.

Income fund

Income-oriented funds aim at pursuing the current income of the fund, and the investment targets are mainly those blue-chip stocks and bonds.

Securities with relatively stable returns, such as coupons and negotiable certificates of deposit. Income-oriented funds generally put the interest and dividends earned.

Allocated to investors.

profit

The income of the fund comes from stock dividends, deposit interest and capital appreciation. The income of the fund is distributed to the fund holders after deducting the expenses.

Someone, that is, the income obtained for the holder.

Yield curve (yield curve)

A curve showing the relationship between the yield and maturity of fixed income bonds at a certain point in time. Generally speaking, the yield curve

This line inclines upward, because bonds usually have longer maturities and higher yields. But in some specific cases (

If the public expects interest rates to fall in the future, the yield curve will be horizontal or even downward.

ransom

Redemption refers to the behavior of investors who already hold fund shares to sell the fund to the fund manager during the existence of open-end funds.

Unit behavior.

investment risk

Investment risk refers to the possibility of securities investment suffering losses. This possibility is manifested in the failure to realize or realize the expected investment income.

It can be realized completely, and the investment principal suffers losses. Investment risks include market risk, interest rate risk and purchasing power risk.

, enterprise risk and financial risk, etc.

investment fund

Investment fund is a collective investment model with * * * returns and * * risks, that is, investors are concentrated by issuing fund units.

Funds are managed by fund custodians, managed and used by fund managers, and engaged in stocks, bonds, foreign exchange and commodities.

Money and other financial instruments to invest in order to obtain investment income and capital appreciation. Investment funds are called "mutual funds" in America.

Britain and Hongkong are called "unit trust funds", while Japan and Taiwan Province Province are called "securities investment trust funds".

investment-grade bond

Refers to corporate bonds or municipal bonds that have reached a certain bond rating level and are generally considered to have a high credit rating.

The risk of default is very small. Moody's rating Baa and above or Standard & Poor's rating BBB and

Bonds above BBB are generally considered as investment-grade bonds.

Investment portfolio

Investors invest their funds in different kinds of securities or multiple varieties of the same kind of securities according to a certain proportion.

In fact, this decentralized investment method is portfolio. The risk can be spread through the portfolio, that is, "no eggs."

"Basket" is one of the meanings of the establishment of securities investment funds.

Trusteeship agreement

Custody agreement is an agreement between fund company or fund management company and fund custodian on the custody of fund assets, which

The responsibilities, rights and obligations of the principal and the trustee are legally determined, with the focus on the trustee.

current value

The future cash flow is discounted to the present value at a certain discount rate, which is equivalent to such a cash at present.

It will get the same future cash flow by investing now.

preferred stock

Preferred stock is a stock that gives investors a certain priority when raising funds. Priorities include: fixed dividends;

The right to distribute the remaining property of ordinary shareholders has priority. However, preferred shares generally do not participate in the company's dividends, and shareholders do not participate.

Voting rights.

Comprehensive umbrella fund

Umbrella fund refers to the establishment of several sub-funds under a parent fund, and each sub-fund makes investment decisions independently.

bond

Bonds are bonds issued to investors when the government, financial institutions, industrial and commercial enterprises and other institutions directly borrow money from the society to raise funds.

And promised to pay interest at a certain interest rate and repay the principal according to the agreed conditions.

bond funds

Bond fund is a kind of securities investment fund with bonds as its investment object. It concentrates the funds of many investors and pays attention to debt.

Portfolio investment in securities to seek more stable returns.

prospectus

The prospectus is the explanatory document of the fund. Mainly to enable investors to be more detailed when selling funds to investors.

Learn more about the nature, content, investment and other aspects of the fund, so as to ensure that investors invest according to their own investment goals.

And make corresponding investment decisions.

securities investment funds

Investment fund is a kind of collective securities investment with * * * income and * * risk, that is, by issuing fund shares and concentrating investment.

Investors' funds are entrusted by the fund custodian, managed and used by the fund manager, and engaged in finance such as stocks and bonds.

Tool investment.

Index fund (index fund)

A fund that purchases all or part of the securities in the securities market included in the index according to the criteria for the composition of the index.

The goal is to achieve the same income level as the index.

Capital gains (capital gains)

The difference between the sale price and the purchase price of an asset. The investment income of portfolio investors is usually divided into two parts.

One is dividend income, and the other is capital gains.

Asset-backed securities (asset-backed securities)

Bonds or bills backed by loans and accounts receivable from banks, credit card companies or other credit institutions.

Vouchers are usually guaranteed by bank letters of credit or credit upgrading measures, in the form of insurance policies provided by third parties other than the issuer.