According to different standards, securities investment funds can be divided into different types:

(1) According to whether the fund unit can be increased or redeemed, it 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.

(4) According to different investment objects, it can be divided into stock funds, bond funds, money market funds and futures funds.

Contract fund is an agency investment system established according to certain trust deed principles. The trustee, the trustee and the beneficiary conclude a contract, the management institution (trustee) manages the trust assets, the bank or trust company (trustee) keeps the trust assets, and the investor (beneficiary) enjoys the investment income.

Corporate funds operate in the form of joint-stock companies. Investors buy shares of the company and become shareholders of the company. Corporate funds involve four parties: investment companies are the main body of corporate funds; Managing companies, operating assets for investment companies; Custody companies that keep assets for investment companies are generally held by banks or trust companies; Underwriting companies, responsible for promoting and repurchasing company shares.

Public Offering of Fund is a fund established by raising funds through public offering of securities. Private placement fund is a fund established by raising funds through non-public offering. Private equity funds face specific investment groups and meet the needs of customers with special expectations for investment. The investors of private equity funds are mainly some large investment institutions and some rich people. For example, the investors of quantum funds headed by Soros in the United States are either financial oligarchs or industrial giants.