1. value type
Value funds are divided into two sub-categories: value type and value optimization type. The investment style of this kind of funds is mainly value investment, and most of them invest in blue-chip stocks and long-term value-added listed companies. The so-called value investment simply means not chasing market hotspots and theme stocks, but looking for enterprises with stable growth in performance with a long-term vision. Generally speaking, the heavy positions of such funds are mostly value stocks with relatively stable performance, such as banking stocks, steel stocks and real estate stocks. Value fund is a fund with the basic goal of pursuing stable recurring income, which mainly invests in large-cap blue-chip stocks, corporate bonds, government bonds and other stable income securities. Its investment style aims at buying stocks with relatively low prices relative to intrinsic value, and it is expected that the stock price will return to a reasonable level. Its main feature is relatively robust. Typical representative funds include: Guo Futianyi's value, ICBC Credit Suisse's value and Boss's value growth.
2. Growth Fund
The investment style of funds investing in stocks of growth companies aims to select companies with higher than average profit growth and potential for value-added. The focus of growth is not the current price of the stock, but the expectation that the future stock price will perform better than the market average. Equity funds that focus on investment in growth stocks are called growth stock funds. Growth fund belongs to the fund with the highest risk and the biggest income. Judging from its stock selection idea, position ratio and net value change, growth investment funds mainly have the following characteristics: First, stock selection pays attention to the growth of listed companies. The growth of listed companies can be shown in the following aspects: the industry in which listed companies are located has a good development prospect, the profit rate of the industry is much higher than the average level of other industries, the industry enjoys preferential treatment in finance and taxation or is tilted by national policies in other aspects, the market position of listed companies' main business is prominent, and the operating conditions of enterprises have been substantially improved, thus realizing the rapid growth of listed companies. Second, the equity is relatively concentrated. While diversifying risks and portfolio investment, growth investment funds also maintain a high proportion of positions in some key stocks. Third, income fluctuations are polarized. Theoretically speaking, growth investment funds not only get higher returns, but also take higher risks. Generally speaking, with the rise and fall of the market, the income of growth investment funds fluctuates greatly. In order to achieve the maximum value-added goal, growth funds usually pays little dividends, but reinvests the dividends, bonuses and profits obtained from investment to realize capital appreciation. At present, growth is most favored by the public, but if you want high returns, the risks are definitely high. Typical representative funds include: small-cap growth of Guangfa, positive growth of Dacheng, high growth of South China and income growth of Huabao Xingye.
Step 3 balance funds
This kind of fund not only pays attention to capital appreciation, but also pays attention to dividend income, and even pays attention to future dividend growth, but the most concern is the potential of capital appreciation. It not only pursues the long-term growth of the fund but also strives for the current income, and pursues the stable net value of the fund, considerable income and moderate growth. Spreading funds in stocks and bonds is a kind of stable fund investment product of "attacking in advance and defending in retreat". When the stock market is in a downturn, lightening positions helps investors to reduce the losses of investing in stocks. When the stock market rises, they will increase their stock positions in time to prepare investors for expected returns. In a volatile market, it is more suitable to adjust the ratio of stock to debt with the change of the market to balance the income and risk. This kind of fund invests in both growth stocks and income stocks with good dividend records, with the goal of obtaining dividend income, moderate capital appreciation and capital preservation, so that all investments may obtain higher investment returns with relatively small risks. Its net value fluctuates smoothly, and its income and corresponding risk are between growth fund and indexed investment. Therefore, balanced funds are suitable for investors who want to obtain higher dividend income and more stability than growth funds, such as insurance funds and pension funds, and those relatively conservative individual investors.
Balanced funds can be roughly divided into two types: one is a balanced fund of stocks and bonds, that is, the fund manager will adjust the allocation ratio of stocks and bonds in time according to market changes. When the fund manager is optimistic about the stock market, he will increase the position of the stock, and when he thinks that the stock market may be adjusted, he will increase the allocation of bonds accordingly. Another kind of balanced fund, while balancing stocks and debts, emphasizes dividends and considers the safety of bags more, which is also one of the ways to avoid risks. Take Morgan's double interest balance fund as an example. According to the fund contract, dividends must be paid when the realized income exceeds one-year fixed deposit interest rate 1.5 times. Investors who prefer dividends can consider such funds.