Open-end funds are mainly divided into stock funds, bond funds, hybrid funds and monetary funds.

1. Equity fund: also known as partial stock fund, it is a fund with stocks as the main investment object.

Generally speaking, the risk of stock fund is lower than that of stock investment, which is the highest risk in the fund and suitable for medium and long-term investors who expect to obtain higher returns.

2. Bond funds: funds that invest in bonds.

The risk of bond funds will be lower than that of stock funds, but the income is generally lower than that of stock funds. Investors choose to buy when the market is depressed, and the possibility of loss is generally small.

3. Hybrid fund: refers to a fund whose investment ratio of stocks and bonds is between the above two types of funds.

Its characteristic is that it can change the asset allocation ratio more flexibly according to the market situation, and realize the investment strategy of advance, attack and retreat.

4. Monetary fund: mainly investing in bonds, with a certain proportion of stock investment.

Its characteristic is that the fund prospectus clearly stipulates the relevant guarantee clauses, that is, after meeting a certain holding period, it provides investors with the guarantee of principal or income, and the risk is slightly lower than that of bond funds.

The characteristics of open-end funds are as follows:

1, good liquidity.

Fund managers must maintain sufficient liquidity of fund assets to cope with possible redemption, and will not concentrate on holding a large number of assets that are difficult to realize, thus reducing the liquidity risk of the fund.

2. High transparency.

With the necessary information disclosure, open-end funds generally publish their net assets every day, which accurately reflects the ability of fund managers to operate and control funds in the market at any time, and is particularly attractive to small investors with insufficient ability, funds and experience.

3. Convenient investment.

It is very convenient for investors to purchase and redeem funds at all sales places at any time. A good incentive and restraint mechanism urges fund managers to pay more attention to integrity and reputation, emphasizing long-term, stable and excellent investment strategies and excellent customer service.