A: According to different investors, investment funds can be divided into stock funds, bond funds, mixed funds, money market funds, futures funds, option funds and warrant funds. Equity funds refer to investment funds that invest in stocks (the proportion of stock investment accounts for more than 60%); Bond funds refer to investment funds that invest in bonds (bond investment accounts for more than 80%); Hybrid fund means that the investment ratio of stocks and bonds is between the above two types of funds, which can be flexibly adjusted; Money market funds refer to investment funds that invest in short-term securities in the money market, such as treasury bills, negotiable certificates of deposit of large banks, commercial bills, corporate bonds, etc. Futures funds refer to investment funds that mainly invest in various futures varieties; Option fund refers to an investment fund that invests in stock options that can distribute dividends; Warrant fund refers to an investment fund with warrants as its investment object.
Q: What is growth funds? What is a value fund? What is a hybrid fund?
A: According to different investment styles, we divide stock funds into growth funds, value funds and hybrid funds. Growth stock fund refers to the fund that mainly invests in growth stocks with fast income growth and great future development potential; Value stock funds refer to funds that mainly invest in undervalued and safer stocks. The risk of value stock funds is lower than that of growth stock funds, and the risk of hybrid stock funds is somewhere in between.
Q: What is growth funds? What is an income fund? What is a balanced fund?
A: According to different investment objectives, securities investment funds can be divided into growth funds, income-oriented funds and balanced funds. Growth funds refers to a securities investment fund that aims at pursuing long-term appreciation and profitability of assets, thus investing in listed stocks or other securities with good growth potential. Income fund refers to a securities investment fund whose basic goal is to pursue high current returns and whose main investment target is securities that can bring stable returns. Balanced fund refers to a securities investment fund with the basic goal of ensuring capital security, current income distribution and long-term growth of capital income, and paying more attention to the combination of long-term and short-term income and risk in the portfolio.
Q: What is an active fund? What is a passive fund? What is an index fund?
A: According to different investment concepts, securities investment funds can be divided into active funds and passive (index) funds. Active fund is a kind of fund that tries to achieve performance beyond the benchmark portfolio. Unlike active funds, passive funds do not actively seek to outperform the market, but try to replicate the performance of the index. Passive funds generally choose a specific index as the tracking object, so they are often called index funds.
Q: What is an index fund?
A: Index fund is a kind of fund that can grow with the market on the principle of fitting the target index and tracking the change of the target index. The investment of index funds adopts the investment strategy of fitting the target index return rate, and invests in the constituent stocks of the target index in a diversified way, so that the stock portfolio return rate fits the average return rate of the capital market represented by the target index.
Q: What is an index-enhanced fund?
A: Index-enhanced funds are not pure index funds. It refers to the fund's attempt to obtain investment returns beyond the index in the process of indexation investment. On the basis of passively tracking the index, it adds enhanced active investment means and makes appropriate adjustments to the investment portfolio to control risks and obtain positive market returns. Q: What is a publicly traded open-end fund? What is a contractual open-end fund?
Answer: According to whether it can be listed on the stock exchange, open-end funds can be divided into listed open-end funds and contractual open-end funds. Listed and traded open-end funds refer to securities investment funds whose fund shares are listed and traded on the stock exchange, and both sides of the fund are investors. For example, transactional open-end index funds (ETFs) and listed open-end funds (LOF). Contractual open-end fund refers to the securities investment fund whose fund share cannot be listed and traded on the stock exchange. Although such funds cannot be listed on the stock exchange, they can be traded through "subscription" and "redemption", and the trading parties of such funds are investors and fund companies.
Q: What is a replication fund?
A: Replication fund is a free translation of English Clone Fund, and it can also be literally translated into clone fund. Copying funds is very common in foreign countries, which can be divided into two forms: one is to copy the market performance of the target fund through derivative products, and the other is to copy the investment strategy. The former is mainly used when it is impossible to directly invest in the target fund due to various reasons such as supervision. For example, there is a restriction that Canadian investors cannot invest in overseas funds for their pensions. If Canadian investors want to have more S&P 500 index funds, they can bypass this restriction by investing in S&P 500 index replication funds. The latter is mainly used to copy the successful fund products of the company. When a fund is quite successful-large scale and high net worth, foreign fund management companies often copy this fund in order to better protect the interests of investors and facilitate the management and operation of fund managers. This kind of replicated funds are generally managed by the same fund manager, and their investment direction, investment objectives, investment policies, investment strategies, risk preferences and operation methods are exactly the same. , and similar performance.
Q: What is a closed period? How long is the closure period?
A: Closed period refers to the time when the fund manager can't accept the subscription, redemption and other businesses within the time limit stipulated in the fund contract and prospectus at the initial stage of the establishment of an open-end fund. According to the regulations, the maximum closure period shall not exceed 3 months.
Q: What is an open day? (What is the fund open day? )
A: The open day refers to the working day when investors apply for fund purchase and redemption. In China, generally speaking, the trading day of the stock exchange is the open day of open-end funds.
Q: What are the conditions for the establishment of the fund? What are the conditions for setting up a fund? )
A: According to the Interim Measures for the Management of Open-end Funds, the conditions for the establishment of open-end funds are as follows: ① The net sales during the establishment period exceeded 200 million yuan; (2) During the establishment period, the minimum number of subscribers reached 65,438+000. When the fund meets the conditions for the establishment of the fund, the fund manager can announce the establishment of the fund, and formally transfer the fund shares subscribed by customers into the fund account opened by him from the date of establishment.
Q: What is fund opening? What is a position? Empty positions? Half warehouse? Man Cang?
A: Opening a position means that the fund manager buys stocks. Position is a capital term, that is, the approximate ratio of the value represented by virtual assets in hand to the total value represented by virtual assets and cash assets. This is a rough figure, so it doesn't need to be calculated clearly. The so-called position level refers to the percentage of the value represented by virtual assets in the hands of investors to the total value represented by virtual assets and cash assets. Man Cang 100%, half warehouse 50%, empty warehouse 0%. The so-called virtual assets refer to stocks, funds and futures, and do not represent practical significance.
What is floor trading? What is OTC?
A: The so-called market refers to the stock market. On-site trading refers to the use of stock accounts to buy and sell closed-end funds, ETFs or LOF funds in the stock market. Over-the-counter trading is the open-end fund trading that we usually do in distribution channels, such as buying and selling funds in silver-based Tongli. In other words: On-site refers to the subscription through the stock exchange system, and off-site refers to the subscription through the banking system.
Q: What is fund replication?
A: Fund replication is to set up a new fund in the form of an old fund. The operation of the old fund has been recognized by investors, but its unit net value is already high and the fund scale is not small. Continued subscription may dilute the income of old investors, and new investors are discouraged from high net worth. Fund replication solves this problem. However, due to the different timing of the new and old funds, whether the old funds can achieve excellent performance also needs the cooperation of timing.
Q: What is a fund split?
A: Fund splitting is to split a fund with higher net worth into several funds with lower net worth. After the fund is split, the original portfolio remains unchanged, the fund manager remains unchanged, the fund share increases, and the net value of unit share decreases. The split of gold shares can reduce the net value of fund shares by directly adjusting the number of fund shares, without affecting the realized income, unrealized income and paid-in fund.
What is a fund index? What is the Shanghai Stock Exchange Fund Index? What is a deep evidence into a finger?
In order to reflect the comprehensive changes in the fund market, both Shenzhen Stock Exchange and Shanghai Stock Exchange compile fund indexes based on the existing securities investment funds. (1) Shenzhen Stock Exchange: On July 3, 2000, Shenzhen Stock Exchange terminated the compilation and release of the original Shenzhen Stock Exchange Index (code: 399304) with old funds as samples, and at the same time launched a new fund index with securities investment funds as samples, named Shenzhen Stock Exchange Index (code: 399305). The index of Shenzhen Stock Exchange Index is calculated by Paige weighted comprehensive index method, and the weight is the total issuance scale of each securities investment fund. The benchmark date of the Fund's index is June 30, 2000, and the benchmark date index is 1000 points. (II) SSE Fund Index: The sample range of SSE Fund Index is the securities investment funds listed on the Shanghai Stock Exchange. The Shanghai Stock Exchange Fund Index will be released in real time through the market database, just like the existing index. The code of Shanghai Stock Exchange Fund Index in the market database is 0000 1 1, referred to as "Fund Index" for short.