The time is not clearly defined. The ranking of funds is based on the annual rate of return and the performance after settlement on the last trading day of the year. However, the time for fund companies to announce their results is not necessarily. Fund, in English, refers to a certain number 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 accounting point of view, capital is a narrow concept, which refers to funds with specific purposes and uses. The fund we are talking about mainly refers to the securities investment fund.