Hybrid funds refer to funds that invest in stocks, bonds and money market instruments. In addition, according to the different investment ratios and investment strategies of stocks and bonds, hybrid funds are divided into various types, such as partial stock funds, partial debt funds and allocation funds.

Open-end funds (over-the-counter subscription) can use the following formula to calculate the expected annualized expected return:

Net subscription amount = subscription amount (1+ subscription rate)

Subscription fee = subscription amount-net subscription amount

Subscription share = net subscription amount T-day net fund share value

Redemption fee = redemption share T-day fund share net redemption rate

Redemption amount = redemption share T- net value of fund share-redemption fee

Net profit = redemption amount-subscription amount

Take an absolute example: the net value of the fund bought by 1 10,000 yuan is 5. 123, the net value at redemption is 5.42 1 yuan, the subscription rate is 1.5%, and the redemption rate is 0.5%. What is the expected annualized expected return?

Expected annualized expected return =10000/(1+1.5%)/5.123 * 5.421* (1-0.5%)-/.