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What are the shares of graded funds?
There are generally three types of graded fund shares:

Parent fund share (undivided fund share, which obtains all the benefits of fund investment, similar to ordinary funds. Under normal circumstances, such shares can only be purchased, redeemed, split and merged, and cannot be listed and traded)

Class A shares (giving priority to the agreed income, such as "benchmark interest rate of one-year bank time deposit +3.0%", which is similar to bonds that pay interest every year, so Class A shares generally have the characteristics of low risk)

Share B (another share corresponding to share A, after allocating the agreed income of share A, the residual income of the parent fund is obtained. The financial leverage provided by B share and A share, the income and risk are obviously enlarged)