it is not recommended to lighten up the positions of loss-making funds. It is a better operation mode for funds to increase their positions when they lose money, because increasing their positions after losses will reduce the cost of investors. The lower the cost, the less risk investors will bear, and the greater the probability of returning their capital or gaining income in the future. It is better for funds to lighten up their positions when they are profitable.

It should be noted that the fund's opening position is usually not completed at one time, but in batches. For example, if the fund opens its position once after falling by 1%, it will continue to open its position once after falling by 1% until the opening position is completed. Investors can set the opening ratio at will.

fund, English is fund, which broadly 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 perspective of accounting, fund is a narrow concept, which means funds with specific purposes and uses. The funds we mentioned mainly refer to securities investment funds.

According to different standards, securities investment funds can be divided into different types:

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 (it depends on the situation), and the fund size is not fixed through subscription and redemption by banks, brokers and fund companies; Closed-end funds have a fixed duration, generally listed and traded in securities exchanges, and investors buy and sell fund units through the secondary market.

according to different organizational forms, it can be divided into corporate funds and contractual funds. Funds are established by issuing fund shares to establish investment fund companies, which are usually called corporate funds; Fund managers, fund custodians and investors are established through fund contracts, which are usually called contractual funds. China's securities investment funds are all contractual funds.

according to the different investment risks and returns, it can be divided into growth funds, income funds and balanced funds.

according to different investment objects, it can be divided into four categories: bond funds, stock funds, money funds and hybrid funds.

trust fund

trust fund, also known as investment fund, is a kind of collective investment mode of "benefit * * * and risk * * * *": it refers to the way of issuing fund vouchers (such as income vouchers, fund units and fund shares) through contracts or companies to pool the unequal funds of most investors in society and form trust assets of a certain scale.

characteristics of trust funds: collective investment, expert management and expert operation;

Portfolio investment, risk diversification, separation of asset management and asset custody

Benefit sharing, risk bearing, pure investment as the purpose, strong liquidity.