Funds refer to funds specially used for specific purposes and independently accounted for. What we usually call funds generally refers to securities investment funds. According to different investment targets, funds can be divided into money market funds. Bond funds generally invest in short-term monetary instruments, such as government bonds, banks, certificates of deposit, commercial paper, etc. Bond funds invest in treasury bonds and financial bonds, also known as fixed income funds. Stock funds invest in stocks. Index funds invest in constituent stocks that track the index. Object-oriented hybrid fund is a balanced fund with uncertain investment ratio of stocks and bonds, and it is an umbrella fund that holds stocks and bonds equally in a fund and its investments. Simply put, the umbrella fund is a number of sub-funds, with an umbrella on it, which is the fund contract. Umbrella funds are basically open-end funds, but actually they invest in stocks and bonds.