1、ETF。 Transactional open-end index fund is a special type of open-end fund, which combines the advantages of closed-end fund and open-end fund. Investors can buy and sell ETF shares in the secondary market, and they can also purchase or redeem ETF shares from fund management companies, but they must exchange a basket of stocks (or a small amount of cash) for fund shares or exchange fund shares for a basket of stocks (or a small amount of cash). Because there are both secondary market transactions and subscription and redemption mechanisms, investors can carry out arbitrage transactions when there is a difference between the transaction price in the ETF secondary market and the net value of the fund unit. The existence of arbitrage mechanism can make ETF avoid the common discount problem of closed-end funds. Investors can buy ETFs in two ways: after the securities market closes, they can buy from fund managers according to the net value of the fund on that day (the same as ordinary open-ended funds); You can also buy directly from other investors in the securities market, and the purchase price is determined by both the buyer and the seller, which is often different from the net value of the fund at that time (like ordinary closed-end funds).

2. Private equity funds. The "private fund" or "underground fund" often referred to in the financial market is a kind of collective investment that is privately raised from specific investors without public publicity, as opposed to the securities investment fund that is supervised by the competent department of China government and publicly issues beneficiary certificates to unspecified investors. There are basically two ways, one is the contractual collective investment fund based on signing the entrusted investment contract, and the other is the corporate collective investment fund based on * * * contributing shares to establish a joint-stock company.

3. Public Offering of Fund. Public Offering of Fund is a securities investment fund that is supervised by the competent government department and publicly issues beneficiary certificates to unspecified investors. Under the strict supervision of the law, these funds have industry norms such as information disclosure, profit distribution and operation restrictions. For example, at present, the closed-end funds in the domestic securities market belong to Public Offering of Fund. Public Offering of Fund and private equity funds have their own merits, and their healthy development is of vital significance to the development of financial markets. However, at present, only Public Offering of Fund is legally recognized, and the needs of the market are far from being met.

4. Asset management. When you say asset management, you should refer to the asset allocation of equity funds, hybrid funds, bond funds and currency funds, right? As far as equity funds are concerned. Refers to a fund in which more than 6% of the fund assets are invested in stocks. At present, in addition to stock funds, there are bond funds and money market funds in China. Bond fund refers to a fund in which more than 8% of the fund assets are invested in bonds. In China, the investment targets are mainly government bonds, financial bonds and corporate bonds. Money market funds refer to funds that only invest in money market instruments. The fund's assets are mainly invested in short-term monetary instruments such as treasury bills, commercial bills, bank time deposit certificates, government short-term bonds, corporate bonds, interbank deposits and other short-term securities. The yields of these three funds from high to low are: stock funds, bond funds and money market funds. However, from the perspective of risk coefficient, equity funds are much higher than the other two funds.

5. If you want to engage in the securities industry, you must first pass the examination of securities qualification certificate. /newcn/home/