If the misconception that the fund's fixed investment is a universal ointment is deeply rooted in the hearts of many investors, then the initiator of this concept should be the fund company. In the unilateral rise of the stock market in 2007, many investors subscribed for funds, and the scale of fund companies expanded rapidly. However, after the stock market crash in 2008, a large number of investors redeemed the fund. At this time, fund companies can't encourage investors to purchase and purchase funds in large quantities, so they began to focus on promoting the fixed investment of funds, so that investors can spend less money at a time, but continue to invest, so as to expand the scale of fund companies. Therefore, in the propaganda of some fund companies and banks, it seems that the fixed investment of funds is called a "universal plaster". It seems that all investors can get good expected annualized returns by investing in all fund products on a regular basis in all market environments.

However, this is not the case. The fixed investment of the fund is just an investment method, and there is no such thing as "good" or "bad". The key lies in how investors apply it. Everyone has their own life cycle, and different stages have different requirements for funds and different investment methods. No investment method can make money by itself, and investors' expected annualized income is based on market ups and downs. It can only be said that the fixed investment of the fund is a better investment method. After all, the market probability of unilateral rise and unilateral fall is relatively small, and most markets are dominated by shocks. For example, suppose a stock is fixed, and the stock price curve shows a positive U-shaped trend during the fixed investment period. After the initial purchase price was 65,438+000 yuan, the stock price fell at a rate of 5% every time, and the fixed investment prices were 95 yuan, RMB, RMB and RMB respectively. It began to rise when it fell to yuan, and finally rose back to 100 yuan. Although it is zero in terms of increase, if it is absolutely symmetrical U-shaped, the fixed investment will definitely make money in the end. Because 100 yuan fell by 95% to 5%, but 95 yuan rose to 100 yuan, and each subsequent rise exceeded the previous decline. However, this simulation is the most ideal state after all. In reality, the fluctuation of the stock market and fund net value is simply unpredictable. Therefore, investors must have a reasonable understanding of the historical expected annualized rate of return when choosing the fixed investment of the fund.

Speaking of the reasons for the fund's fixed investment, it should be said that the origin of the fund's fixed investment may be the bank's "zero deposit and lump sum withdrawal" because the expected annualized interest rate of market deposits is relatively low, and users can't escape inflation by directly depositing money in the bank. Therefore, in recent years, we have vigorously promoted the fixed investment of funds, so that investors can get the expected annualized income other than bank savings or inflation. However, no investment method can be applied to all markets and all environments. If the market is unilaterally rising or unilaterally falling, it is definitely not suitable for the fund to vote. Only in a volatile city, the fixed investment of the fund is the best choice, which can share the cost and risk equally. If the market rises unilaterally, it is best to buy stocks directly. If the market falls unilaterally, you can only choose individual stocks to make money.

At the same time, the smart fixed investment owned by the fund is not necessarily smart, and investors can't rely solely on smart fixed investment to make judgments. Although fund companies are also trying to make "fool-like" fixed investment smarter, the actual effect remains to be tested by the market. For example, Huitianfu Fund Company took the lead in launching the "moving average cost method", which is an intelligent fund fixed investment method-regular quota. This method takes the investor's own real investment situation as the tracking target and the actual fund net value as the standard to decide how much to deduct each month. When the average holding cost of investors is lower than the net value of fixed investment funds, increase the investment amount to buy more fund shares, and when the average holding unit cost of investors is higher than the net value of fixed investment funds, reduce the amount to buy less unit fund shares. But, in the final analysis, this is just an investment strategy. But the actual effect still depends on the market, which is not necessarily better than simple fixed-term investment.

Therefore, it should be said that the intelligent fixed investment of fixed investment quota is a double-edged sword. Although there are different types of "fixed time limits" in the market, the main difference lies in the different standards for increasing purchases. One is based on tracking index, and the other is based on tracking fund net value, so you can choose. However, for most amateur investors, it is easy to blindly follow the trend, and the intelligent fixed investment of "fixed investment but not fixed investment" may be harmful. They may increase their fixed investment in a bull market and reduce or even stop their fixed investment in a bear market, which will make them lag behind the market even more.