Question 2: What is the difference between umbrella trust and graded fund? Umbrella trust is the product of drawing lessons from umbrella fund. Umbrella trust means that the same trust product contains two or more different types of sub-trusts, and investors can freely choose one or more of them for portfolio investment according to their investment preferences to meet different investment needs. Sub-trusts under umbrella trust mainly have the following types and situations: first, the funds of each sub-trust are used in the same way for the same enterprise, but the trust period is different from the expected rate of return; Second, the funds of each sub-trust are used by different enterprises, and the trust period of each enterprise is different from the expected rate of return; Third, each sub-trust uses funds in different ways, with the same object and term. Umbrella fund refers not to a single fund type, but to a structure, that is, under a fund name, there are several independent funds in which umbrella fund investors can directly convert. Umbrella fund enables investors to allocate different proportions of stocks and bonds according to their risk tolerance, and make convenient conversion to diversify investment risks.
Graded funds, also known as "structured funds", refer to the types of funds that show two-level (or multi-level) risk-return performance with a certain differentiated fund share by decomposing the fund income or net assets under a portfolio. Its main feature is to divide the fund products into two or more types of shares and give different income distribution respectively. The sum of the products of the net value of each sub-fund of the graded fund and the share ratio is equal to the net value of the parent fund.
Question 3: What is the difference between umbrella fund and fof fund? Umbrella fund refers to the fund operation mode of setting up several sub-funds under a parent fund, and each sub-fund makes independent investment decisions. Its main feature is that it can provide investors with a variety of choices within the fund, and investors can switch fund types according to their own needs.
Fof is a fund in the fund and invests in other funds. The biggest difference between FOF and open-end fund is that the fund in the fund takes the fund as the investment target, while the fund takes the securities such as stocks and bonds as the investment target. It screens funds through professional institutions to help investors optimize the investment effect of funds.
Question 4: Umbrella fund, introduce umbrella fund, also known as "umbrella fund" or "umbrella substructure fund", which is an organizational form of fund. Under this organizational structure, according to a general fund prospectus, fund sponsors set up a number of funds that can only be converted according to the prescribed procedures and rates. These funds are called "sub-funds" or "component funds"; The fund system composed of these sub-funds is called "umbrella fund".
The first umbrella fund in China-TEDA Manulife Value Optimization Series Fund (TEDA Manulife Growth, TEDA Manulife Cycle, TEDA Manulife Stability) was formally established on April 25th, 2003. It is worth mentioning that TEDA Manulife Umbrella Fund raised 2.63 billion yuan for the first time, and the total number of subscribers reached 65.438+0.775 million, setting a record for the number of domestic open-end funds at that time.
Question 5: What does a series fund mean? Series funds, also known as umbrella funds, refer to the establishment of several sub-funds under a parent fund, and each sub-fund makes investment decisions independently.
Its main feature is that it can provide investors with a variety of investment options within the fund. Because the market is constantly changing, the needs of investors are constantly changing. If investors choose between different funds again, they need to pay a lot of marketing expenses. Investors in series funds can switch fund types at any time according to their own needs, without paying the switching fee, which can provide investors with more choice space at low cost.
For example, South China and Huabao Xingye have a series of funds.
Question 6: What is an umbrella private equity fund? Umbrella fund, also called series fund, is to split a fund into several sub-funds, raise them separately and operate them in a unified way, which can speed up the raising. If you are interested in private equity funds, I recommend a private equity circle APP. There are many private equity funds in it. You can search according to your own requirements.
Question 7: What is a series fund? Series funds, also known as umbrella funds, refer to a fund structure in which multiple funds * * * use a fund contract, and the sub-funds operate independently, and the sub-funds can be converted to each other. In fact, it is an organizational structure of open-end funds. Under this organizational structure, according to the general fund prospectus, fund sponsors initiate the establishment of some funds, which can be converted between them according to the prescribed procedures. These funds are called subfunds or subfunds. The fund system composed of these sub-funds is called umbrella fund. Furthermore, the umbrella fund is not a specific fund, but a management method of multiple funds initiated and managed by the same fund sponsor, which consists of three funds: value optimization growth, cycle and stability. However, the organizational structure of a single fund is relatively simple and there are separate fund contracts.
Question 8: As a very important fund product innovation, umbrella fund has aroused positive response in China fund market. However, umbrella fund also raises some questions about conflicts of interest, especially the relationship between different sub-funds under the same umbrella structure. Since the umbrella fund is clearly defined as an organizational form and structural form of the fund, there must be consistency between the overall interests of the umbrella fund and the independent interests of different sub-funds, and there may also be some conflicts. Different sub-funds under the umbrella structure have the same fund sponsor, fund manager and fund custodian, and have a fund contract and prospectus, which is the starting point for the same interests of different sub-funds. On this basis, the sub-funds can be converted to each other. Based on the role of economies of scale, different sub-funds employ the same agency, accounting firm, law firm and other intermediaries, as well as other matters that can be completed together with the announcement. Therefore, in the umbrella fund, each sub-fund is completely independent to ensure the independence of each sub-fund asset. At the same time, each sub-fund exists in the umbrella fund, and the operation efficiency of the whole fund is improved through the arrangement of economies of scale among sub-funds. Generally speaking, unless otherwise stipulated in the fund contract or laws and regulations, the termination and liquidation of any sub-fund does not necessarily lead to the termination and liquidation of umbrella funds and other sub-funds. Conflicts of interest between umbrella fund and different sub-funds. First of all, this is reflected in the operation form of fund holders' meeting under umbrella fund. There are two possible ways: first, different sub-funds have their own fund holders' meeting to vote on major issues involving the interests of sub-fund holders, such as whether to terminate the sub-fund, change the sub-fund manager and sub-fund custodian. This way reflects the meaning that sub-funds are independent legal subjects, but ignores the possible interactions between different sub-funds under the umbrella structure, especially the conflicts of interests. Another model is that there is only one unified fund holders' meeting under the same umbrella structure fund. However, this naturally involves the interests of the entire umbrella fund and sub-fund. For example, when distinguishing the reasons for convening this unified fund holders' meeting, some reasons may involve the interests of all fund holders; Some reasons may only involve the interests of some sub-fund holders, such as the decision to terminate a sub-fund. Secondly, based on the independent interests of different sub-funds under the unified umbrella structure, the cost allocation of funds should also be strictly distinguished, otherwise it will directly affect the interests of different sub-funds. In principle, the expenses of umbrella fund should be further divided into the same expenses paid for the whole umbrella fund and the separate expenses paid for the single sub-fund according to whether it is used for the whole umbrella fund or a single sub-fund. Improper cost allocation will directly affect the balance of interests between different sub-funds. Thirdly, the umbrella structure fund has another important advantage, which is its openness in increasing sub-funds. However, the influence of increasing sub-funds on the whole umbrella fund is not entirely positive. For example, adding sub-funds to the existing umbrella fund can provide more fund conversion options for existing fund holders, but there is also a potential possibility that fund managers may blindly increase the number and scale of sub-funds regardless of their own management ability, thus increasing the possibility of conflicts of interest.
Question 9: What does "umbrella term" mean? Do you mean the shape of the crown? There should be: spherical, tower-shaped, umbrella-shaped, conical, oval, cylindrical, oval, cup-shaped, wavy, drooping, covered, spindle-shaped, hemispherical, naturally happy, special and irregular.
Question 10: Is the umbrella fund fof or mom? Lemon gives you a good feeling of solving problems!
Definitely not fof. FOF is a fund among funds that invest in other funds.
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