A mutual fund that invests in stocks and bonds in a diversified way. Usually as a fund manager? In the afternoon, the proportion of bond investment with strong resilience will be increased; When fund managers are optimistic about the market outlook, they will increase the proportion of stock investment with more capital gains and profit opportunities. Balanced fund is a fund that pursues both long-term capital appreciation and current income. These funds mainly invest in bonds, preferred stocks and some common stocks. The portfolio proportion of these securities is relatively stable. Generally, 25%-50% of the total assets are used for preferred stocks and bonds, and the rest are used for common stock investment. Its risk and return are between growth funds and income fund.