2. The difference between hybrid and equity funds is mainly the position limit. The lower limit of stock position of general stock funds will be higher than that of hybrid funds. But we should not only pay attention to the fund specification, but also pay attention to the actual operation of the fund manager. You can't just look at the name. Although some funds are called hybrid, fund managers like to keep high positions for a long time. In addition, hybrid funds emphasize "timing", while equity funds generally do not make much changes in their positions. China's fund industry has just started, so it is more appropriate to analyze it one by one.
3. The style of the fund is related to many factors. For example, the restrictions stipulated in the manual, the personal preferences of fund managers, the guidelines of investment committees of fund companies and so on. The stock position is only a reflection of the fund style, and we can't judge the fund style just by looking at the stock position. Huaxia market and Shangtou Alpha have different styles. There are many specific comments on the Internet for your reference. However, Sun, the former star fund manager of Morgan Alpha, is on sick leave, and it remains to be seen how the style of the fund will change.
4. There are many ways to classify the investment styles of stock funds. For example, from the perspective of stock selection, it can be divided into "top-down" and "bottom-up", and from the perspective of shareholding concentration, it can be divided into "concentration" and "dispersion", and so on. There are many ways to classify. For example, a fund adopting a "top-down" strategy wants to choose a promising industry first and then a good company, while a "bottom-up" strategy is the opposite, choosing a good company first and then choosing its industry. As for the "value optimization" you mentioned, I guess it is only a means of fund marketing. The homogenization of domestic stock funds is serious, and many styles have been talked about. Finally, it depends on short-term performance. I think the fund manager is much more important than style.
5. Huaxia large-cap fund is the brand of Huaxia fund, which is used for branding. To make an inappropriate analogy, just like Andy Lau never gets married, it can maintain a halo. Moreover, after the subscription is liberalized, the scale is expanded, the fund operation is difficult, and the performance is difficult to maintain the current level. The suspension of subscription is mainly to prevent the fund from being too large to affect its operation and performance. Because of the limitation of the fund's stock position, he must buy stocks for the new cash, even at 6000 points. Trading on the floor is the same as buying and selling stocks. When trading on an exchange, the buying and selling price is generally not the net value of the fund. The share of funds that only trade on the floor is fixed, such as closed-end funds.
6. You don't need to look at the net value to buy a fund. It is generally not wrong to choose a fund with excellent fund managers under a good company who have long-term leading performance and sound management. But the point of admission will still greatly affect your long-term income, so you still have to make your own judgment about the future.
These are my experiences and lessons in recent years, and I hope I can help you. I wish you a successful investment.