(1) From the operation mode of funds, companies can be divided into open-end funds and closed-end funds according to whether the fund share can be increased or decreased. After the establishment of open-end funds, investors can purchase or redeem fund shares at any time, so the fund size is not fixed; The scale of closed-end funds has been determined before the issuance, and the fund scale will remain unchanged within the prescribed period after the issuance. ?
(2) According to different organizational forms, securities investment funds are mainly divided into corporate funds and contractual funds. The company fund is established according to the articles of association. Fund investors are shareholders of the company, share the investment income according to shares and bear limited liability. Corporate funds have an independent "legal person" status, and generally a board of directors exercises its functions and powers on behalf of investors. Although corporate funds are similar to ordinary joint-stock companies in form, they have no management, but entrust investment consultants (fund management companies) to manage fund assets; Contractual fund is established according to the fund contract signed between investors, fund managers and custodians, and the rights of fund investors are mainly reflected in the terms of the fund contract. ?
(3) According to different investors, funds can be divided into stock funds, bond funds, money market funds and mixed funds. Equity funds refer to investment funds that mainly invest in stocks; Bond funds refer to investment funds that mainly invest in bonds; Money market funds refer to investment funds that invest in short-term money market securities such as treasury bills, negotiable certificates of deposit of large banks, commercial bills and corporate bonds; Hybrid funds refer to funds that invest in stocks, bonds or other investment varieties at the same time. ?
(4) According to different investment concepts, funds can be divided into active funds and passive funds. Active funds are funds that try to exceed the performance benchmark; Passive funds do not actively seek to surpass market performance, generally choose a specific index as the tracking object, and try to copy the index to track market performance, so they are usually called index funds. ?
(5) According to the different sources and uses of funds, funds can be divided into onshore funds and offshore funds. Onshore funds refer to funds that raise funds in China and invest in the domestic securities market. Investors, fund managers and fund custodians of onshore funds are all in China, so supervision is relatively easy. Offshore fund refers to a fund that issues funds in one country and invests the raised funds in other countries' markets.