Hybrid funds are * * * mutual funds that invest in growth stocks, income stocks and fixed-income investments, such as bonds in their portfolios. In addition, according to the different investment ratios and investment strategies of stocks and bonds, hybrid funds are divided into various types, such as partial stock funds, partial debt funds and allocation funds.

As one of the main types of family property allocation, hybrid funds are slightly higher in risk than bond funds and monetary funds, lower in stock funds and higher in income than bond funds and monetary funds. Because of its flexible allocation, the hybrid fund is a wealth management product with moderate risk and expected annualized income, although its income is generally lower than that of equity funds, but occasionally its income will be higher than that of equity funds.