Fixed investment refers to buying funds with fixed time and fixed rate. After setting the conditions for fixed investment, investors do not need to manually operate and choose the time. Buying refers to buying a fund at one time, which requires investors to buy it manually and choose the time. Compared with buying, the advantages of fixed investment are: saving time and worry, taking average income, and not needing to choose timing and stop loss. Fixed investment is suitable for most investors.

1. Funds can be divided into broad sense and narrow sense. Broadly speaking, they refer to a certain amount of funds set up for a certain purpose, such as trust and investment funds, provident funds, retirement funds and so on. In a narrow sense, they refer to funds with specific purposes and uses. Usually, funds mainly refer to securities investment funds. The income of securities investment funds comes from the future, and the performance of the income is inseparable from the performance of the investment target market, which has certain risks.

Two, according to different standards, securities investment funds can be divided into different types.

(1) According to whether the fund units can be increased or redeemed, they can be divided into open-end funds and closed-end funds. Open-end funds are not traded on the market (as the case may be), but are purchased and redeemed by banks, brokers and fund companies, and the fund scale is not fixed; Closed-end funds have a fixed duration and are generally listed and traded on the stock exchange. Investors buy and sell fund shares through the secondary market.

(2) 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. China's securities investment funds are all contractual funds.

(3) According to the different investment risks and returns, it can be divided into growth funds, income funds and balanced funds.

(four) according to the different investment objects, it can be divided into stock funds, bond funds, money market funds, futures funds and so on.

3. The expenses directly borne by fund investors refer to the one-time expenses paid by investors when conducting fund transactions. For closed-end funds, like buying and selling stocks, a certain percentage of commission is paid outside the price. For open-end funds, it mainly refers to subscription fee and redemption fee.

Fund operating expenses refer to the expenses incurred during the fund operation, mainly including management fees, custody fees and other expenses, which are directly deducted from the fund assets.