There is no clear boundary. Generally speaking, more than one year can be called long-term, less than one month is short-term, and one month to one year is medium and long-term. Funds can be divided into broad sense and narrow sense. Broadly speaking, they refer to a certain amount of funds set up for a certain purpose, such as trust and investment funds, provident funds, retirement funds and so on. In a narrow sense, they refer to funds with specific purposes and uses. Usually, funds mainly refer to securities investment funds. The income of securities investment funds comes from the future, and the performance of the income is inseparable from the performance of the investment target market, which has certain risks. And long-term investment funds can get better returns.