Old funds: refers to funds that have been established for a long time, such as Huaxia Strategy, Penghua Putian Income, Harvest CSI 300, etc., all of which are old funds, and closed-end funds are also old funds.
Hedge Fund: Hedge fund, which means "hedge fund", originated in the United States in the early 1950s. The purpose of the operation at that time was to use financial derivatives such as futures and options, as well as the skills of buying and selling related different stocks to 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 the fund.
In 1980s, with the development of financial liberalization, hedge funds had broader investment opportunities and entered a stage of rapid development. In 1990s, the threat of global inflation gradually decreased, financial instruments became more mature and diversified, and hedge funds entered a stage of vigorous development. According to the British Economist, from 1990 to 2000, more than 3,000 new hedge funds appeared in the United States and Britain. After 2002, the yield of hedge funds has declined, but the scale of hedge funds is still not small. According to the Financial Times on June 22nd, 2005, the total assets of global hedge funds have reached $65,438 +0. 1 trillion.
QDII Fund: QDII is the abbreviation of qualified domestic institutional investor. It is a securities investment fund established in a country and approved by the relevant departments of that country to engage in securities business such as stocks and bonds in overseas securities markets. Like QFII (Qualified Foreign Institutional Investor), it is also a transitional institutional arrangement that allows domestic investors to invest in overseas securities markets to a limited extent when the currency is not fully convertible and the capital account is not yet open.
Index fund: Index fund is a kind of fund that constructs a portfolio for securities investment according to the principle of compiling securities price index. Theoretically speaking, the operation method of index fund is very simple, as long as you buy the corresponding proportion of securities according to the proportion of each securities in the index and hold it for a long time. For purely passively managed index funds, the capital turnover rate and transaction cost are relatively low, and the management fee is often minimal. Such funds will not invest too much money in certain securities or industries. Generally, full investment will be maintained, and there is no market speculation. Of course, not all index funds strictly meet these characteristics, and different index funds adopt different investment strategies. At present, there are three index funds, Xinghe, Pufeng and Tianyuan, which are "optimized index funds" with the characteristics of index funds.
Transactional open index fund: ETF is the English abbreviation of exchange traded fund, which is translated into Chinese as "transactional open index fund", also known as exchange traded fund. ETF is an open-end securities investment fund product listed and traded on the exchange, and the trading procedure is exactly the same as that of stocks. The assets managed by ETF are stock portfolios. The types of stocks in this portfolio are the same as those in a specific index, such as the SSE 50 Index, and the number of each stock is consistent with the proportion of the constituent stocks of this index. The transaction price of ETF depends on the value of its stock portfolio, that is, the "net asset value of unit fund". ETF's portfolio usually completely replicates the underlying index, and its net performance is highly consistent with the specific index pegged. For example, the net performance of SSE 50ETF is highly consistent with the rise and fall of SSE 50 index.