In the gold market, there are more than 100 companies that publicly issue funds, managing more than 7,000 funds of various types. Funds are classified into stock type, mixed type, bond type and currency type. According to the strategy, it is divided into active management funds and passive index funds. From the perspective of operation mode, there are ETF, LOF, OTC funds and so on.

With the development of the market, there are more and more types of fund segmentation. Morningstar China updated the fund classification standard in China market, and added some industry-specific theme funds.

For ordinary investors, it is difficult to choose a suitable high-quality fund for investment. After all, most investors in the domestic market are immature investors with little professional knowledge. The time of fund investors is mostly limited, and ordinary office workers are not professional investors or professional investors. They usually have to go to work and are under great pressure.

All these have caused the strange phenomenon that funds make money in the fund market and investment funds don't, so fund investment came into being.

Fund investment is to accept the entrustment of customers, make the choice of specific varieties, quantities and trading opportunities for customers within the scope authorized by customers, and apply for the purchase, redemption and conversion of fund products on behalf of customers. Different from other investors, fund investment can achieve real financial management on behalf of customers.

Fund investment is to select funds and fund companies through professional strength. So, what kind of thinking does fund investment have when choosing funds and fund companies?

The dimension of choosing fund companies

Fund portfolio is to select funds in the whole market and allocate them from thousands of funds. In the specific fund selection, the investment team will first choose the fund company. There are two main dimensions when choosing a fund company.

First, the fund company's operating score

Management includes internal senior management changes, ownership structure, incentive mechanism, active rights management scale, active fixed income management scale, social security qualification, annuity qualification, key customer evaluation, risk control punishment, etc.

This paper analyzes the stability and management system of fund companies from these aspects, and finds that a stable and sound management system of fund companies is conducive to their development.

Second, the investment score of fund companies.

The investment score of a fund company reflects the fund management ability of the fund. The evaluation indicators include investment ability, award-winning record, average working years of fund managers, inflow of fund managers in the last year, average active fund size in the last year, and turnover rate of fund managers.

Fund managers are the soul of fund performance, especially active funds. Choosing a fund means choosing a fund manager. Therefore, the ability and stability of fund managers of fund companies largely determine the overall investment strength of fund companies.

Select the dimension of the fund

In the specific fund selection, the investment team will choose the fund company first, and then screen the stock base and debt base respectively.

The specific fund selection is to allocate different styles of funds by combining quantitative and qualitative methods and combining market characteristics.

First, the quantification part.

Through data analysis, performance attribution, etc. , focus on finding out the funds with excellent past performance and strong sustainability, and clarify the main sources of their excess returns. Look at the fund manager's work and management years, and the fund rankings in the past year and the past three years. , but also consider the size of the fund and the establishment period.

Second, the qualitative part

Then, through investigation and interview, job structure analysis, etc. Focus on understanding the working mode and investment framework of fund managers and the entire investment research team behind them.

Select excellent fund companies and high-quality funds, and then build a complete fund portfolio through reasonable allocation.