Introduction:
A fund in a broad sense refers to a certain amount of funds set up for a certain purpose. It mainly includes trust and investment funds, provident funds, insurance funds, retirement funds and funds of various foundations. From the accounting point of view, capital is a narrow concept, which refers to funds with specific purposes and uses. The funds we are talking about now mainly refer to securities investment funds.
Fund form:
It is still uncertain which is the earliest hedge fund. During the great bull market in the United States in the 1920s, there were countless such investment tools specifically for the rich. One of the most famous is the Graham-Newman Partnership Fund founded by Benjamin Graham and Jerry Newman. In 2006, Warren Buffett declared in a letter to the American Museum of Finance that the Graham-Newman Partnership Fund in the 1920s was the earliest known hedge fund, but other funds may appear earlier.
Expand:
According to the provisions of the Fund Law, the requirements of fund management companies for dividends of closed-end funds are that more than 90% of the net income of funds must be distributed in cash and at least once a year. The dividend principle of open-end funds is: after the distribution of fund income, the net value of each fund share cannot be lower than the face value; The bank transfer or other formalities occurring in the process of income distribution shall be borne by the investors themselves; On the premise of meeting the dividend conditions of relevant funds, it is necessary to stipulate the maximum number and minimum proportion of fund income distribution each year.