The fund we refer to generally refers to the securities investment fund, which is an indirect way of securities investment. By issuing fund shares, fund management companies concentrate investors' funds, which are managed by fund custodians (that is, qualified banks) and managed and used by fund managers to invest in financial instruments such as stocks and bonds, and then * * * bear the investment risks and share the benefits.
According to different standards, securities investment funds can be divided into different types:
According to whether fund units can be increased or redeemed, they can be divided into open-end funds and closed-end funds. Open-end funds are not listed and traded, but are generally purchased and redeemed by banks, and the fund scale is not fixed; Closed-end funds have a fixed duration, and the fund size is fixed during the duration. Generally listed on the stock exchange, investors buy and sell fund shares through the secondary market.
According to different organizational forms, it can be divided into corporate funds and contractual funds. A fund is established by issuing fund shares to establish an investment fund company, which is usually called a corporate fund; The establishment of fund managers, fund custodians and investors through fund contracts is usually called contractual funds. At present, China's securities investment funds are all contractual funds.
According to the difference of investment risk and income, it can be divided into growth fund, income fund and balanced fund.
According to different investment objects, it can be divided into stock funds, bond funds, money market funds and futures funds.