Basic knowledge of fund: Securities investment fund refers to a kind of collective investment method which collects the funds of many investors through the sale of fund shares to form independent property, which is managed by fund custodians and fund managers, and shares benefits and bears risks in the form of portfolio. Simply put, investors give money to fund management companies, and fund managers raise funds for investment. Investors only need to regularly observe the fund's net performance.

Open-end fund refers to a fund operation mode that the fund share is not fixed and can be purchased and redeemed at the time and place agreed in the fund contract. Because investors can freely join or withdraw from this open-end investment fund, and there is no limit on the number of investors, it is also called * * * mutual fund. Most investment funds are open.

Closed-end fund refers to a fund operation mode in which the fund share is fixed within the term of the fund contract, and the fund share can be traded on a legally established stock exchange, but the fund share holder may not apply for redemption. Fund shares are traded on the stock exchange, and their prices are determined by market supply and demand.

Corporate investment fund refers to an investment institution established in accordance with the Company Law, aiming at making profits and investing concentrated capital in various securities through issuing stocks. Corporate investment funds are similar to joint-stock companies in organizational structure. At present, there is no such fund in China.