Look back first,

In the first chapter, we mainly talked about the theme of "what is a fund", including

(1) What is the essence of the fund? The essence of the fund is the trust relationship, and the fund management company is entrusted to help us invest.

(2) What are the related themes of the fund: investors, fund managers and fund custodians?

(3) The life cycle of the fund: product design-approval by the CSRC-confirmation of issuance-public offering (raising funds)-closed opening period-formal operation-liquidation.

Then in the second chapter, we begin to talk about the classification of funds.

Why should we talk about the classification of funds? That is, what is the purpose of our understanding of fund classification?

It's like going to the market to buy food. Each dish tastes different and has different effects. If we want to buy the food we want, we must first know what kinds of dishes there are, what characteristics they have and how they taste, so that we can choose.

First, let's define the broad scope, that is, the so-called Public Offering of Fund and private equity funds.

The so-called public and private, in fact, refers to public and private, public to public, public offering, everyone can invest, generally the threshold for buying is very low, a dollar or even a penny can be invested.

Private, that is, private distribution, not everyone can buy it, and the general threshold is relatively high, from hundreds of thousands to millions.

Because the scope of public offering is wider and the information is more standardized and transparent, all the contents of this topic are aimed at fund public offering.

After defining the scope, we began to talk about the details. When it comes to fund classification, our textbooks and Baidu all say this:

Well, there is nothing wrong, it is accurate and complete. But how much do we need to remember?

Actually, we don't need it. Let's talk about it in actual combat Please open Tian Tian Fund Network (the authoritative fund sales website in China) and you can see the following table.

In fact, the type in the red box is what we need to know about the fund classification.

Therefore, I write the second chapter-classification of funds in the following three parts:

1. The most basic classification-by investment object.

2.QDII, ETF, ETF connection and LOF are all silly and unclear.

3. Other supplements: graded funds, capital preservation funds and innovation funds.

The most basic classification-by investment object.

As we have said in the first chapter "What is a fund (1)- the essence of a fund", a fund represents a trust relationship, and a professional institution is entrusted to help you manage your finances. Then when you give money to a professional organization (actually a fund management company) and they want to help you manage your money, they have to invest in something. These things are what we call investment targets, including stocks, bonds and bills. Therefore, the classification according to different targets is the most common and basic one in fund classification.

The risks and benefits represented by different themes are basically easy to identify, so as long as you understand this fund classification method, you can basically cope with 50% of the situation.

According to the classification of investment targets, there are basically several types: money funds, stock funds, bond funds, hybrid funds and index funds.

According to this classification of Tian Tian funds-

(1) Monetary Fund

Although there is no online fund every day, I decided to start with this most basic one.

The so-called money fund, let's take a look at the explanation of Du Niang:

Actually, you don't need to remember too much. Just remember that the money fund is a fund with low income (but far higher than the bank's demand, currently hovering around the annual yield of 2-3%), low risk and flexibility (many money funds already support deposit and withdrawal, 1 purchase).

I believe most people have bought it, because the essence of Yu 'ebao is a money fund, and all kinds of baby products on the market (Huitianfu cash treasure, Merchants Lucky Treasure, etc.). ) are actually money funds.

Strictly speaking, the money fund is also risky, but because the underlying risk of its investment is low, there has been no loss at present, so I basically use it instead of demand deposits.

(2) Equity funds

The so-called stock fund, as its name implies, is a fund that invests most of its funds (not less than 80% of its positions) in stocks.

Of course, there are too many listed stocks. In order to facilitate investors to choose funds, and because fund managers are good at different fields, general equity funds will subdivide themes. Feel it:

For example, investing in the medical industry.

For example, investing in the theme of Shanghai, Hong Kong and Shenzhen.

Equity funds, because the investment target is stocks, have the highest returns and risks among all kinds of funds.

(3) Bond funds The so-called bond funds are funds that invest most of their funds (more than 80%) in bonds. Unlike stock funds, bond funds are mostly named after the theme of the stocks they invest in. This is because different bonds represent different benefits and risks, such as credit bonds and convertible bonds. Compared with stock funds at a glance, the name of bond funds always looks a bit confusing. This piece will be discussed in detail in the advanced version, so I won't expand it here.

(4) Hybrid fund The so-called hybrid fund is a nondescript fund that can be invested in monetary instruments, stocks and bonds. Just remember that this is a fund that can invest in anything.

(5) index funds and above are actually quite easy to explain, and this index fund needs to take some time to talk about. As the name implies, an index fund is actually a fund with an index as its investment target. But what is an index? For example, we want to know about the wealth of China people, but how can I know about so many people in China? Then we can do this. We find the richest 100 people in China (using Hurun ranking) and calculate their average wealth. Then we named this figure China Wealth 100 Index, and used it to roughly represent the wealth of China. By monitoring this index every year, we can know whether the wealth of China people is increasing or decreasing. At the same time, by comparing this figure with our own wealth growth, we can know whether our own wealth growth is fast or slow among China people. This metaphor is very unscientific, but it can generally represent the source and function of the index.

Our common indexes are Shanghai and Shenzhen 300 Index, Shanghai 50 Index and Shenzhen 50 Index. In fact, we select N representative stocks in different markets and weave an index through some algorithms to represent the performance of a certain market. Therefore, funds that invest in indexes are essentially funds that invest in stocks contained in these indexes.

Therefore, the performance of index funds is basically consistent with the performance of the index. For example, the return trend of Shanghai and Shenzhen 300 index funds at 20 16 is basically the same as that of Shanghai and Shenzhen 300 index.

Finally, I finished this chapter. I wanted to write it briefly, but for the sake of clarity, I unconsciously wrote a long paragraph. Through this chapter, we basically understand the most common classification methods of funds-according to the investment target, they include money funds, stock funds, bond funds, hybrid funds and index funds.

If you have any questions, please leave a message or add the official WeChat account tzxsc7. In order to consolidate your knowledge, I suggest you look at the types and names of these different funds on the Tian Tian Fund website.