The fund's fixed investment business has been recognized by investors with its three unique advantages: low long-term investment cost, multiple interest and appreciation, and time-saving deduction. According to the investment experts of Caigu.com(caigu. com), this investment method can not only average the cost and spread the risk, but also be similar to "lump sum deposit". As long as you sign a contract with a bank or securities business department, you can realize automatic investment, which is convenient and quick, and enjoy the benefits. However, the fixed investment of the fund is not a universal tool to make money. As an investor, it is necessary to understand some misunderstandings of the fund's fixed investment and avoid losses caused by improper operation.

Myth 1: Fixed investment can make a fortune dream.

In the promotion of some fixed investment, investors are often attracted by the annualized rate of return above 10%, but it is not easy to obtain such high annual compound interest of fixed investment. In fact, the yield of fixed investment depends largely on the market situation at the time of holding and redemption. Different redemption opportunities can even bring several times the difference in results. Take Shenzhen Stock Exchange 100 Index Fund as an example. If the investment is started from 65438+February 2003 and redeemed from 65438+February 2007, the yield is close to 300%. But if it is redeemed after one year, the minimum income is only about 30%.

Let's look at the high probability situation. If it is a random redemption, what is the most likely rate of return for a fixed investment? First of all, we choose the S&P stock price index to simulate. During the period from 1928 to 2009, the average annual return rate of 1 arbitrary fixed investment was 3.1%; The 5-year average yield of any fixed investment is 20.6%; 15 year average rate of return is 90.5%; The 20-year average yield of any fixed investment is 145.8% (corresponding annual compound interest is 4.6%).

If simulated by the Shanghai Stock Exchange Index, during the period from June199365438+1May 2009, the average annual yield of any fixed investment for three years is 9.29%; The 5-year average annual yield of any fixed investment is 8.75%; The 8-year average annual yield of any fixed investment is 6.64%. From this point of view, in China's securities market, relying on the fixed investment of funds will definitely not make a fortune, but it may overcome the inflation level in the same period and help many ordinary families maintain and increase their assets.

Compared with the mature stock markets in western developed countries, China stock market is a typical emerging market. The characteristics of "emerging+transition" have led to frequent fluctuations in China stock market in recent years, which is easy to rise and fall. It is not easy for ordinary investors to make profits in the stock market, and the fixed investment of the fund provides them with a financial management tool to share the fruits of China's economic growth. First of all, the fixed investment threshold of the fund is low, and each investment is very small, which is suitable for the working class within the risk tolerance of ordinary investors; Secondly, the fixed investment of the fund is a disciplined investment method. Regardless of the net value of the fund, insisting on buying can help investors better control investment costs and risks in the volatile market; Third, as long as the long-term trend of the market is upward and the fixed investment is adhered to, the probability of investment profit is greater; Fourth, in case of bear market, the fixed investment of the fund can help investors overcome their fears, dare to start, accumulate low-cost chips in the bear market, and lay a solid foundation for the profit of the next bull market.

Myth 2: The weak market chooses redemption.

Known as "fool investment", the fund's fixed investment actually has the same risk. Compared with the one-time investment fund, the fixed investment of the fund reduces the risk but does not completely eliminate the risk. In particular, there is no fixed investment that spans the bull-bear cycle. Because the cost cannot be effectively shared, its income largely depends on the short-term market performance.

We simulated the historical data of S&P stock price index from 1928 to 2009. The results show that in 1982, if you make a fixed investment in any year, the probability of loss is 33.4%. The probability of any fixed investment losing money for five years is18.8%; The loss probability of 10 year is 9.2%; 15 The probability of any fixed investment is 3.0%; The probability of any fixed investment losing money for 20 years is almost zero.

Although with the extension of the investment period, the probability of loss is getting lower and lower, but ordinary investors are most concerned about: why can there still be losses after more than ten years of fixed investment? The loss of long-term fixed investment is basically due to redemption during the market downturn. By analyzing the situation that the total index of fixed investment is still losing money after 10 years, it is found that most redemptions are concentrated in 1942 and 1974, and the end of 2008 and the beginning of 2009 are just the end of the big bear market. Therefore, if you don't need money urgently, don't choose a weak market to redeem, but stick to a fixed investment. The stock market has gone up and down, so you must wait until the market picks up.