Second, the basic economic functions are different: the basic function of the securities market is the pricing of resources and risks; The basic function of futures market is to avoid risks and find prices.
Third, the margin system is different: securities transactions must pay full funds; Futures trading only needs to pay a certain proportion of the value of futures contracts.
Fourth, the fundamental attribute characteristics.
1. Equity investment fund: high risk and high return.
2. Securities investment funds: low risk and low return.
5. Investment object and portfolio.
1. Securities investment funds generally invest in highly liquid securities such as stocks, and a few invest in real estate and industrial projects.
2. Equity funds are science and technology projects and growth enterprises that invest in certain industries, and spread risks by investing in projects at different stages and projects in different industries.
6. Duration and realization of investment.
1. Securities investment funds are usually short-term investments, with strong speculative colors and varied portfolios, mainly arbitrage from the fluctuations of the securities market.
2. Equity funds have a long investment cycle and can only get returns from the development and growth of investment projects.
Extended data:
According to different standards, securities investment funds can be divided into different types:
(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 (as the case may be), but are purchased and redeemed by banks, brokers and fund companies, and the fund scale is not fixed; Closed-end funds have a fixed duration and are generally listed and traded on the stock exchange. Investors buy and sell fund shares through the secondary market.
(2) According to different organizational forms, it can be divided into corporate funds and contractual funds. A fund is established by issuing fund shares to establish an investment fund company, which is usually called a corporate fund; The establishment of fund managers, fund custodians and investors through fund contracts is usually called contractual funds. China's securities investment funds are all contractual funds.
(3) According to the different investment risks and returns, it can be divided into growth funds, income funds and balanced funds.
(4) According to different investment objects, it can be divided into stock funds, bond funds, money market funds and futures funds.
References:
Baidu encyclopedia-fund
Baidu encyclopedia-securities