Hedge fund, meaning "risk hedge fund", originated in the United States in the early 1950s. At that time, its operation purpose was to use financial derivatives such as futures and options to buy and sell related stocks, and the risk hedging operation skills could avoid and resolve investment risks to a certain extent. 1949 The first Jones hedge fund with limited cooperation in the world was born. Although hedge funds appeared in the 1950s, they did not attract much attention in the next 30 years. Until 1980s, with the development of financial liberalization, hedge funds had broader investment opportunities and entered the stage of rapid development.
The investment strategies of funds are different. Since closed-end funds cannot be redeemed at any time, all the funds raised can be used for investment, so that fund management companies can formulate long-term investment strategies and achieve long-term business performance. Open-end funds, on the other hand, must keep some cash for investors to redeem at any time, but not all of them are used for long-term investment, and generally invest in assets with strong liquidity. QDII is a securities investment fund established in China and approved by relevant state departments to engage in securities business such as stocks and bonds in overseas securities markets. Like QFII, it is also a transitional institutional arrangement, allowing foreign investors to invest in the domestic securities market to a limited extent when the currency is not fully convertible and the capital account is not yet open. Unit Trust is a management company established by a document named trust deed. In terms of organizational structure, it has no board of directors. The fund manager company sets up the fund itself as the entrusting company, and employs the manager to manage the operation and operation of the fund by himself or again. Usually, securities companies or underwriting companies are responsible for the issuance, trading, transfer, trading, profit distribution, income and debt service of beneficiary certificates. The trustee accepts the entrustment of the fund manager company to register and open an account for the fund in the name of the trustee or trust company.