Top ten: Pien Tze Huang, Yunnan Baiyao, Dong 'e Ejiao, Tongrentang, Baiyun Mountain, Yiling Pharmaceutical, Buchang Pharmaceutical, Tasly, Xinbang Pharmaceutical, China Resources Sanjiu, Aladdin, Kexiang, Jiangong Repair, Jimmy Technology and Chen Zhong.
According to different standards, securities investment funds can be divided into different types:
(1) According to whether the fund unit can be increased or redeemed, it can be divided into open-end funds and closed-end funds. Open-end funds are not traded on the market (as the case may be), but are purchased and redeemed by banks, brokers and fund companies, and the fund scale is not fixed; Closed-end funds have a fixed duration and are generally listed and traded on the stock exchange. Investors buy and sell fund shares through the secondary market.
(2) According to different organizational forms, it can be divided into corporate funds and contractual funds. A fund is established by issuing fund shares to establish an investment fund company, which is usually called a corporate fund; The establishment of fund managers, fund custodians and investors through fund contracts is usually called contractual funds. China's securities investment funds are all contractual funds.
(3) According to different investment risks and returns, it can be divided into growth funds, income funds and balanced funds.
(4) According to different investment objects, it can be divided into stock funds, bond funds, money market funds and futures funds.
The relationship between open-end fund and closed-end fund
Open-end funds and closed-end funds are isomorphic, forming two basic modes of fund operation.
Open-end fund refers to an investment fund whose scale is not fixed, but which can issue new shares or be redeemed by investors at any time according to market supply and demand. Closed-end fund is relative to open-end fund, which refers to the investment fund whose fund size has been determined before issuance and remains unchanged within the specified period after issuance.
Before 2004, open-end funds were not listed and traded on the stock exchange, but were generally purchased and redeemed through consignment agencies such as banks or direct selling centers. After 2004, China innovated the operation mode of open-end funds, allowing some open-end funds to be listed and traded on the stock exchange, and became a listed open-end fund (LOF).
The scale of the fund is not fixed, and the fund unit can sell it to investors at any time or buy it back at the request of investors; Without duration, it can theoretically exist forever; The price is determined by the net asset value. Closed-end funds have a fixed duration, and the fund scale is fixed during the duration. Generally, they are listed and traded on the stock exchange, and investors buy and sell fund shares through the secondary market. You are not allowed to accept new shares and offer shares for a period of time before the new round of opening up. When you open up, you can decide how much you want to offer or how much you want to invest again.
Open-end fund is one of the basic forms of fund operation in the world. Fund management companies can sell new fund shares to investors at any time, and also need to buy back their fund shares at any time at the request of investors. Open-end funds have become the mainstream of the international fund market. More than 90% of the fund markets in the United States, Britain, Hongkong and Taiwan Province Province are open-end funds.