1, according to the different legal forms when the fund is established, it can be divided into corporate fund and contractual fund. The so-called corporate fund means that the fund itself is a company registered as a legal person, and it is an investment institution established according to the company law, which invests concentrated funds in securities by issuing fund shares. Corporate funds are economic entities with legal personality. Fund holders are both fund investors and company shareholders. In accordance with the provisions of the articles of association, enjoy rights and perform obligations. In the United States, corporate funds dominate. Contract funds are also called trust funds. Fund management companies are responsible for the operation and operation of funds according to laws and regulations and fund contracts. The fund custodian is responsible for keeping the fund assets, executing the relevant instructions of the fund manager, and handling fund transactions in the name of the fund; Investors will enjoy the fund investment income after purchasing the fund shares. Most of the funds in Britain, Japan, China, Hongkong and Taiwan Province are contractual funds, and the funds stipulated in the Interim Measures for the Administration of Securities Investment Funds promulgated by China are also contractual funds.
2. According to the different transaction methods, it is divided into closed and open.
Closed-end fund refers to a kind of securities investment fund that determines the total amount of issuance in advance and keeps the total number of fund shares unchanged during the closed period. After the fund is listed, investors can transfer and buy and sell the fund shares through the securities market. Open-end fund refers to a kind of securities investment fund in which the total amount of fund issuance is not fixed, and the total amount of fund shares can be increased or decreased at any time, and investors can purchase or redeem the fund shares in the business premises stipulated by the state according to the fund quotation. Compared with closed-end funds, open-end funds have many differences.
3. According to different investment objectives, it is divided into growth, income and balance.
Growth funds pursues long-term capital gains and mainly invests in stocks with good performance and good growth, so as to achieve the purpose of capital appreciation. Growth funds provides opportunities for long-term investors to increase their capital. This kind of fund has great risks and returns, and is suitable for investors with greater risk tolerance. Income fund is a kind of fund whose purpose is to pursue stable and fixed dividend and interest income. Its investment targets are mainly bonds and dividend-paying stocks. These funds are characterized by low risk of principal loss and are suitable for conservative investors who try to avoid risks. Generally speaking, the yield of income funds is better than that of bank deposits and lower than that of growth funds. Balanced funds are between the above two types of funds, achieving a balance between obtaining fixed income and capital growth.
4. Other classification methods
There are many other classification methods of funds, such as: according to different investment objects, there are stock funds, bond funds, money market funds, futures funds, option funds and warrant funds; According to different investment regions, it can be roughly divided into global funds, regional funds and single country funds.