Securities investment fund refers to the collective investment mode that funds are raised through public offering of fund shares, managed by fund custodian and managed and operated by fund manager. For the benefit of fund share holders, they invest in securities in the form of portfolio, enjoy the benefits and take risks. \x0d\ 1。 Classification by fund organization \x0d\ 1. Contract fund. Corporate fund \x0d\ 2. Classification by fund operation \x0d\ 1. Closed-end fund. Open-end fund. Classification by investment objective \ x0d. 1. Bond fund. Stock funds. Money market fund. Hybrid funds \x0d\ 5. Classification by investment philosophy \x0d\ 1. Active Fund II. Passive funds (index funds) \x0d\ 6. Classification by source and direction of funds. 1. index fund (passive fund) 2. ETF (Transactional Open Index Fund) 3. LOF (listed open-end fund) \x0d\4. QDII Fund 5. Gold fund 6. Derivative securities fund.