There are broad and narrow definitions of a Fund. Broadly speaking, a fund refers to a certain amount of funds set up for a certain purpose. For example, trust and investment funds, provident funds, insurance funds, retirement funds and funds of various foundations. What people usually call funds mainly refers to securities investment funds. Extended information

(1) According to whether the fund unit can be increased or redeemed, it can be divided into open-end funds and closed-end funds. Open-end funds are not traded on the market (it depends on the situation). Generally, they are purchased and redeemed by banks, and the fund size is not fixed; Closed-end funds have a fixed duration, during which the fund scale is fixed. Generally, they are listed and traded on the stock exchange, and investors buy and sell fund units through the secondary market.

(2) According to different organizational forms, it can be divided into corporate funds and contractual funds. Funds are established by issuing fund shares to establish investment fund companies, which are usually called corporate funds; Fund managers, fund custodians and investors are established through fund contracts, which are usually called contractual funds. At present, China's securities investment funds are all contractual funds.

Reference: Baidu Encyclopedia-Fund