* * * A mutual fund is an investment tool involving multiple investors and managed by a fund company or fund manager. Investors buy fund shares, combine their funds and invest in many different asset classes, such as stocks, bonds and money market instruments. * * * The investment strategy of the same fund is decided by the fund manager, aiming at providing investors with diversified investment opportunities and diversifying risks.

* * * Characteristics of the same fund 1. Diversification: * * The same fund diversifies its investments by combining investors' funds into multiple asset classes. This helps to reduce investment risk, because the performance of different asset classes is usually not completely related.

2. Professional management: * * The same fund is managed by a professional fund manager with rich investment experience and professional research ability. Investors can benefit from the professional knowledge and management ability of fund managers.

3. Strong liquidity: * * The same fund can usually be bought and sold at any time, with good liquidity. Investors can invest at any time as needed.

4. Diversify risks: * * The same fund invests investors' funds in a variety of different asset classes and securities, thus reducing the risk of specific investments. Even if one of the investments does not perform well, other investments can still make up for the losses.

* * * Examples of the same fund The following are some common types of the same fund:

1. Equity funds: mainly invest in the stock market. Equity funds have high risks, but their potential returns are also high.

2. Bond funds: mainly invest in the bond market. Bond funds have low risk and usually aim at fixed income.

3. Hybrid funds: invest in the stock and bond markets. The risks and benefits of hybrid funds are usually between equity funds and bond funds.

4. Money market funds: mainly invest in short-term financial instruments, such as short-term bonds and certificates of deposit. Money market funds have low risk and are suitable for short-term investment and value preservation.

5. Index funds: funds that track specific indexes, such as the Standard & Poor's 500 Index and the Nasdaq Index. The investment strategy of index funds is passive, pursuing the same investment return as the index.

* * * The same fund is an investment tool. By investing in a number of different asset classes, the risk is diversified and diversified. Investors can choose to invest in funds that suit their risk preferences and investment objectives.