The classification of funds is mainly based on the asset allocation ratio, performance comparison benchmark and investment target determined by funds in the prospectus. The asset allocation ratio, performance comparison benchmark and investment target determined by the Fund in the prospectus represent the commitment of the Fund to investors. Share some information about the nature of fund classification here, hoping to help you!

What is fund classification?

The classification of funds is based on the asset allocation ratio, performance benchmark and investment target determined by the fund in the prospectus. The asset allocation ratio, performance comparison benchmark and investment target determined by the Fund in the prospectus represent the commitment of the Fund to investors and constitute the basic constraint on the future investment behavior of fund managers. Based on this, fund classification can ensure the stability and fairness of classification.

Fund classification standard

First-class classification standard

First, implement the first-level classification, and then implement the second or third-level classification according to the situation. The first-level classification is based on the Measures for the Operation and Management of Securities Investment Funds promulgated and implemented by China Securities Regulatory Commission on July/KLOC-0, 2004. Article 29 of the Measures stipulates that the Fund Contract and the Fund Prospectus shall specify the types of funds according to the following specifications:

(1) More than 80% of the fund assets are invested in stocks, which are stock funds;

(2) More than 80% of the fund assets are invested in bonds, which are bond funds;

(3) Money market funds that only invest in money market instruments;

(4) If it invests in stocks, bonds and money market instruments, and the ratio of stock investment to bond investment does not meet the provisions of items (1) and (2), it is a mixed fund;

(5) Other fund categories as stipulated by the China Securities Regulatory Commission.

Secondary classification standard

1. Equity fund: a fund that mainly invests in stocks, and more than 80% of its assets are invested in stocks.

2. Index fund: a fund that mainly invests in index stocks.

3. Partial stock funds: stock investment is the main investment, and the median allocation ratio of stock investment is greater than the median allocation ratio of bond assets, and the gap between them is generally above 10%. If the difference is between 5% and 10%, the attribution shall be determined according to the performance comparison benchmark and other conditions.

4. Stock-bond balanced fund: the allocation ratio of stock assets and bond assets can be flexibly allocated according to market conditions, and the difference between the median allocation ratio of stock investment and the median allocation ratio of bond assets is generally less than 5%.

5. Debt-biased funds: bond investment is the main investment, and the median allocation ratio of bond investment is greater than the median allocation ratio of stock assets, and the difference between them is generally above 10%. If the difference is between 5% and 10%, the attribution shall be determined according to the performance comparison benchmark and other conditions.

6. Bond funds: There are two types of funds. One is a pure bond fund that does not invest in stocks, and the other is a fund that only subscribes for new shares but does not actively invest in stocks.

7. Capital preservation fund: a fund that guarantees that investors can at least get all or part of the investment principal when the investment expires, or promises a certain percentage of return.

8. Money fund: a fund that focuses on money market instruments.

Classification of fund classification

(1) According to whether the scale can be changed and the transaction mode, it can be divided into closed-end funds and open-end funds. Open-end funds are also called * * * mutual funds abroad, which are isomorphic with closed-end funds and form two basic modes of fund operation. Closed-end funds have a fixed duration, and the fund size is fixed during the duration. Generally listed on the stock exchange, investors buy and sell fund shares through the secondary market. Open-end fund refers to the operation mode that the fund scale is not fixed and the fund unit can sell it to investors at any time or buy it back at the request of investors.

(2) According to different investors, it can be divided into four categories: stock funds, bond funds, money market funds and derivative securities funds. Equity funds focus on listed stocks; Bond funds are mainly fixed-income securities such as government bonds and corporate bonds; Money market funds are mainly short-term treasury bonds, bank bills, commercial bills and other money market instruments; Derivatives funds focus on financial derivatives such as futures and options.

(3) According to different investment methods, it can be divided into active investment funds and passive investment funds. Active investment funds actively invest in order to obtain excess returns beyond the performance comparison benchmark; Passive investment fund, also known as index fund, refers to passively tracking a market index to obtain the average market return.

(4) Equity funds can be divided into large-cap stocks, medium-cap stocks and small-cap stocks according to the scale of the investment objects. Different markets have different classification criteria for the classification of these three types of funds. In the American market, large-cap stocks urgently invest in listed companies with a total market value of more than $5 billion; Mid-cap stock funds urgently invest in listed companies, with a total market value of 65.438+0-500 million US dollars; Small-cap stock funds urgently invest in listed companies with a total market value of less than $654.38+0 billion. In the domestic securities market, there is a general classification method. The definitions of large-cap stocks, medium-cap stocks and small-cap stocks are: the stocks are sorted according to the circulating market value, and the top 30% of the accumulated circulating market value are large-cap stocks; 40% of the stocks with the middle cumulative circulating market value are mid-cap stocks; After the accumulated circulating market value, 30% of the stocks are small-cap stocks.