A one-year holding hybrid fund means that investors must hold the hybrid fund for one year before redeeming it, and cannot redeem it if it is less than one year. After holding it for one year, they can redeem it according to investors' needs.

A hybrid fund refers to a fund that invests in instruments such as stocks, bonds and money markets at the same time without a clear investment direction. Its risk is lower than that of stock funds, and its expected return is higher than that of bond funds. It provides investors with a tool to diversify their investments among different assets.