Retreat is used to describe the biggest loss that any investor may face: a fund product is measured by historical absolute returns, and its initial subscribers may have been making money, but investors who subscribe at the best performance of private equity funds may not necessarily make money, and may even suffer huge losses. For example, when a fund product was established in 1 1 in October 2008, the initial net value of the Shanghai Composite Index was 1. In August 2009, when the Shanghai Composite Index rose to 3400, the net value reached 2. 1, which brought investors a return of 1 10%. During the three-year decline of 2009-20 12, the net value of the fund fell to 1.2. From the performance point of view, the fund still creates 20% income for investors, but if investors subscribe in August 2009, the loss will reach 42.8%, which is the maximum withdrawal range of the fund. Generally speaking, paying attention to the maximum withdrawal rate of private equity funds can help investors understand the risk control ability of funds and know the biggest loss they face. Of course, while paying attention to the maximum withdrawal rate, we should also pay attention to the moving slope of the average net value of the fund. When investors heard that the highest withdrawal rate was 49%, they were almost booed; When drawing the yield curve, facing the growth of 10 times, the 49% retracement is no longer a problem.
Fund, broadly speaking, refers to a certain amount of funds set up for a certain purpose. It mainly includes trust and investment funds, provident funds, insurance funds, retirement funds and funds of various foundations. From the accounting point of view, capital is a narrow concept, which refers to funds with specific purposes and uses. The fund we are talking about mainly refers to the securities investment fund. According to whether fund units can be increased or redeemed, they 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. According to the difference of investment risk and income, it can be divided into growth fund, income fund and balanced fund.