1. There is a time process from application to confirmation, but this does not affect the investor's investment, because the net value of the subscription is based on the effective subscription date, and the confirmation only indicates that the fund shares will be credited to the investor's account.

Therefore, the application date is the date when the investor submits his application to the fund company, and the confirmation date is the date when the fund shares are received by the fund company to the investor.

2. Funds can be divided into broad and narrow senses. In a broad sense, a fund refers to a certain amount of funds established for a certain purpose.

It mainly includes trust investment funds, provident funds, insurance funds, retirement funds, and various foundation funds.

What people usually call funds mainly refers to securities investment funds.