1. Individual investors, that is, most retail investors. At the early stage of the development of the securities market, the market participants were mainly individual investors, that is, investors who bought and sold stocks as natural persons. Ordinary investors refer to investors who engage in stock trading as natural persons. In the securities market, individuals who invest in securities such as stocks and bonds are individual investors. Mainly relative to institutional investors. Individual investors (regardless of the amount of funds) can be called retail investors.
2. Corporate investors, that is, institutions, can also invest in funds. Companies and enterprises make short-term, medium-term and long-term investments with their idle short-term funds or temporarily unused accumulation, and can also achieve the purpose of equity participation and holding through stock investment. Enterprises can also use bonds as an integral part of enterprise assets, which is not only conducive to maintaining the liquidity of enterprise assets, but also enables enterprises to obtain benefits from them.
3. Fund companies can also invest in their own funds. In fact, it is also the second case, and institutional investors are gone. Securities investment fund management company (fund company) refers to an enterprise legal person established in China with the approval of China Securities Regulatory Commission and engaged in securities investment fund management business. The board of directors of the company is the highest authority of the fund company. The promoters of fund companies are institutions engaged in securities business, securities investment consulting, trust asset management or other financial asset management. People usually refer to funds mainly as securities investment funds.
Characteristics of individual investors:
1. Recently, fund companies and brokers received the Notice on Matters Related to the Filing of Inquiry Objects and Placement Objects for Initial Public Offerings, which clarified the procedures for individual investors to become recommended inquiry objects for the first time.
2. According to the Notice, the lead underwriter may recommend no more than 10 individual investors as the recommended inquiry targets. The conditions for the lead underwriter to screen individual investors shall include but not be limited to the requirements on the scale of investment funds, professional skills, investment experience, credit record, investment preference, anti-risk ability, etc. The recommended individual investor shall have more than 5 years of investment experience and no record of violation of laws and regulations, and the funds used for investment shall be self-owned, and the lead underwriter shall check the legality of the source of investment funds. When selecting individual investors, the lead underwriter should give priority to self-owned customers who have strong research ability and risk tolerance, the scale of investment funds is suitable for the characteristics of new share subscription business, and have long-term cooperative relations with their own units and know each other.