Growth funds takes long-term capital appreciation as its investment target, and the investment targets are mainly the stocks of small companies and some emerging industries with great appreciation potential in the market. In order to achieve the goal of maximum value-added, growth funds usually pays little dividends, but often reinvests the dividends, bonuses and profits obtained from investment to realize capital appreciation. Growth funds mainly invests in its stocks. While diversifying risks and portfolio investment, growth investment funds also maintain a high proportion of positions in some key stocks. This is the most outstanding performance of Anxin Fund and Yuyang Fund. Judging from the total proportion of the top ten stocks held in heavy positions to the net asset value of the fund, the average value of Anxin 1999 is 52.75%, and that of Yuyang is 50.36%. In addition, the environmental protection stocks held by Anxin, the fund, accounted for 14.94% of the net asset value of the fund in the fourth quarter of the 1999 portfolio announcement, showing a relatively concentrated shareholding situation.

Theoretically speaking, growth investment funds not only get higher returns, but also take higher risks. Generally speaking, with the rise and fall of the market, the income of growth investment funds fluctuates greatly. From the change of unit net value, the net value of some growth investment funds which have been established for a short time has changed greatly, but those growth investment funds with "excellent old brands" can achieve rapid growth in net value in strength and show strong resilience in weakness. For example, the stock index of1999 "5.19" peaked on June 30, but the growth investment fund could hit a new high in the subsequent volatile market. Growth funds are divided into positive growth and stable growth. Growth funds actively pursues long-term capital appreciation, but prefers small-scale growth enterprises in the selection of targets, with high risks and high returns.