not necessarily.

1. Fuguo Tianhui ranks first with a three-year investment return of 38.41%, a two-year investment return of 15.74% and a one-year investment return of 5.31%, ranking fifth and eighth among 59 comparable funds respectively. Fuguo Tianyuan ranks sixth, second and second among similar funds with a yield of 32.31% in three years, 17.59% in two years and 8.52% in one year. In this regard, Zhu Shaoxing, general manager of Wells Fargo Fund Research and manager of Wells Fargo Tianhui Fund, said that choosing growth stocks can overcome the trend of fluctuation. Value investment focuses on the ability to continue to rise, and Wells Fargo Fund is committed to creating sustainable returns for investors while sharing Chinese growth.

2. broadly speaking, a fund refers to a fund with a certain amount of funds set up for a specific purpose. It mainly includes trust and investment funds, provident funds, insurance funds, retirement funds and funds of various foundations. The scale of the fund is not fixed, but it can issue new shares or investors can redeem the investment fund at any time according to the market supply and demand. Compared with open-end funds, closed-end funds mean that the fund scale has been determined before issuance, and after issuance, the fund scale is a fixed investment fund within a specified period. From the perspective of accounting, fund is a narrow concept, which means funds with specific purposes and uses. The funds we are talking about now mainly refer to securities investment funds.

3. It has no duration, and theoretically it can last forever; The price is determined by the net asset value. Closed-end funds have a fixed deposit period, during which the fund size is fixed. They are usually listed and traded on the stock exchange. Investors buy and sell fund units through the secondary market. It is not allowed to accept new shares and issuance for a period of time until a new round of opening. When you can decide how much you want to put forward or reinvest, new people can also buy shares at this time.

under normal circumstances, the size of the fund is fixed. The fund units issued by open-end funds are redeemable, and investors can buy the fund units at will during the fund's existence, resulting in daily changes in the total capital of the fund. In other words, it is always "open". This is the fundamental difference between closed-end funds and open-end funds.