I. Funds A fund in a broad sense refers to a certain amount of funds set up for a certain purpose. It mainly includes trust and investment funds, provident funds, insurance funds, retirement funds and funds of various foundations. From the accounting point of view, capital is a narrow concept, which refers to funds with specific purposes and uses. The funds we are talking about now mainly refer to securities investment funds.
Second, the big bull market in the 1990s created a batch of new wealth, and hedge funds blossomed everywhere. Traders and investors pay more attention to hedge funds because they emphasize the income distribution mode with consistent interests and the investment mode of "outperforming the market". In the next decade, the investment strategies of hedge funds will emerge one after another, including credit arbitrage, junk bonds, fixed-income securities, quantitative investment, multi-strategy investment and so on.
3. Trust fund, also known as investment fund, is a collective investment model of "income * * * risk * * * *": it refers to pooling the unequal funds of most investors who are uncertain in society through contracts or companies, issuing fund coupons, forming a certain scale of trust assets, which are distributed by specialized investment institutions according to the principle of asset portfolio, and the income is shared by investors in proportion to their capital contribution.
How did it end?
Exactly speaking, fund liquidation means realizing all fund assets and distributing the proceeds to the holders. The liquidation time is stipulated in the fund contract when the fund is established. The holders' meeting may modify the fund contract and decide the liquidation time of the fund.
Article 44 of the Measures for the Operation and Management of Securities Investment Funds promulgated in 2004 stipulates that if the number of fund share holders is less than 200 or the net asset value of the fund is less than 50 million yuan after the fund contract of an open-end fund comes into effect, the fund manager shall report to the China Securities Regulatory Commission in time; If the above situation occurs for 20 consecutive working days, the fund manager shall explain the reasons and submit the solution to the China Securities Regulatory Commission.