Characteristics of graded funds
1, risk classification, income classification: A shares low risk, low income, B shares high income, high risk.
2. Asset consolidation operation: A and B shares are invested together, but the income distribution methods of A and B are different.
For example, the parent fund of a graded fund is equivalent to a mother. Mother has 2 million yuan investment and two children. A doesn't like risks, and B dares to get higher returns. So my mother said to A, I'll tell you what. Your RMB 6,543,800+0,000 yuan is lent to B, and the fixed rate of return is agreed. I will invest 2 million yuan here. If I make money by investing this year, I will only give you the agreed interest rate, and more profits will go to B; If you lose money, all of it will be borne by B, and B will pay you interest with his principal.
Both A and B thought it was good, so the grading fund was established.
Classification of graded funds
(1) is divided into closed-end graded funds and open-end graded funds according to the mode of operation. The duration of closed-end graded funds is 3-5 years, which will be converted into LOF funds at maturity, and the open-end graded funds will last forever;
(2) Divided into stock-type, bond-type and mixed-type graded funds according to investment objects;
(3) According to the investment style, it is divided into active investment and passive investment graded funds;
(4) According to the different ways of raising, it can be divided into two types: joint raising and separate raising.
(5) According to different income distribution methods, it can be divided into simple financial management and complex financial management grading funds; Simple financing classification is equivalent to obtaining leverage from A shares to borrow B shares. At present, China is mostly a simple financing grading fund.
(6) According to the existence of parent funds, it can be divided into graded funds with parent funds and graded funds without parent funds: all stock fund funds and a few bond graded funds have parent funds; Graded funds without parent funds have the following characteristics: first, they do not adopt share matching conversion mechanism; Second, the net value of the disclosed basic share does not represent the overall investment income of the fund, and there is some distortion;
(7) According to whether there are conversion clauses, it is divided into graded funds with conversion clauses and graded funds without conversion clauses. Conversion clauses are divided into regular conversion clauses and irregular conversion clauses. Irregular conversion refers to the conversion when the net value of fund shares triggers the lower or upper threshold.