If you think that fund managers can choose the stocks they invest in according to their own perceptions, you are all wet. Generally speaking, fund managers can only choose stocks in selected and alternative libraries, and ST stocks are absolutely not allowed to touch. How to invest funds is not entirely up to the fund manager, who has many constraints inside and outside the company.

Externally, there are many laws, regulations and management methods issued by the regulatory authorities, as well as restrictions such as fund contracts, and fund companies must fulfill their obligations in accordance with the contracts; Internally, Galaxy Fund Company has also formulated strict investment management procedures, and at the same time, there is an independent risk control department to monitor the investment operation of the fund.

Within the company, there is a clear agreement in the fund contract when the fund is issued. The proportion of buying stocks is 0%-30%, and bonds are at least 50%. Because it is an open-end fund, this 800 million can't be used for investment, and some cash has to be set aside to deal with the possible redemption of customers at any time.

Let's take the Galaxy Fund as an example. In order to prevent risks, Galaxy Fund Company has an independent risk control department in addition to the research, marketing and investment departments, and the operations of fund managers are all under the supervision of this department.