The fund share is the front-end fee, that is, the normal fee mode, which is charged when subscribing for the subscription fund; Class share adopts the back-end charging mode, that is, the fee is charged at redemption, which is suitable for long-term investors; Class A shares do not charge subscription and redemption fees, but charge daily sales service fees, which is suitable for investors with an investment period of less than 1 year. Open-end fund refers to a fund whose total amount of fund issuance is not fixed, and the total amount of fund shares increases or decreases at any time. Investors can purchase or redeem fund shares at the time and place agreed in the fund contract according to the net value of fund shares.

The total amount of closed-end funds is fixed, and the total amount of fund shares remains unchanged unless special circumstances such as raising funds occur. After the fund is listed, investors can transfer and buy and sell it through the securities market. Hybrid funds can be divided into partial stock funds, partial debt funds and allocation funds. Stock fund is a fund with stocks as its main investment object. Bond funds mainly invest in all kinds of bonds, with higher risks than money market funds and lower risks than equity funds. Partial stock type, the proportion of investment in stocks is not less than 60%, partial debt type, the proportion of investment in bonds is not less than 60%, stock-debt balance type, the proportion is roughly the same, and flexible allocation type, set an investment proportion range. Partial stock funds usually allocate 50%-70% stocks and 20%-40% bonds. Debt-biased funds are just the opposite of stock-biased funds, with a higher proportion of bonds and a lower proportion of stocks. Equity-debt balance funds have a relatively balanced allocation ratio of stocks and bonds, which is about 40%-60%. The allocation ratio of flexible allocation funds in stocks and bonds will be adjusted according to market conditions, and there is no fixed ratio. Divided into stock funds, bond funds, hybrid funds and money funds. Open-end fund refers to the fund whose scale is not fixed after its establishment, and investors can purchase and redeem the fund shares at any time. Closed-end fund refers to a fund operation mode in which the fund share is fixed within the term of the fund contract, and the fund share can be traded on a legally established stock exchange, but the fund share holder may not apply for redemption.