Fund type Open-end fund Open-end fund refers to a fund whose total amount of funds issued is not fixed, and the total amount of fund shares can be increased or decreased at any time, and investors can purchase or redeem fund shares in the business premises stipulated by the state according to the fund quotation. Closed-ended fund refers to a fund whose total amount of issuance is determined in advance and the total number of fund shares remains unchanged during the closed period. After the fund is listed, investors can transfer and buy and sell the fund shares through the securities market. Contractual fund Contractual fund, also known as unit trust fund, refers to the fund established by investors, managers and custodians as fund parties to issue beneficiary certificates in the form of signing fund contracts. It is a kind of agency investment behavior organized on the basis of contract principle. There is no fund charter or company board of directors, but the behavior of the three parties is regulated through fund enterprises. The fund manager is responsible for the management and operation of the fund. As the nominal holder of the fund assets, the fund custodian is responsible for the custody and disposal of the fund assets and supervises the operation of the fund manager. Company fund company fund is also called * * * mutual fund, which means that the fund itself is a joint stock limited company, and the company raises funds by issuing stocks or beneficiary certificates, and then the company entrusts an investment consulting company to invest. Growth fund Growth fund is the most common fund. Long-term appreciation of such fund assets. In order to achieve this goal, fund managers usually invest their fund assets in the stocks of companies with high credibility, good long-term growth prospects or long-term surplus. Income-oriented funds Income-oriented funds mainly invest in securities that can bring cash income, with the aim of obtaining the maximum income in the current period. Income funds have little potential for asset growth and relatively low risk of principal loss, which can generally be divided into fixed income funds and equity income funds. Balanced fund is a balanced fund that aims at obtaining current income and pursuing long-term appreciation. Funds are usually dispersed in stocks and bonds to ensure the safety and profitability of funds. Public offering fund A public offering fund refers to a securities investment fund that is supervised by the competent department of our government and publicly issues beneficiary certificates to unspecified investors. For example, at present, the closed-end funds in the domestic securities market belong to Public Offering of Fund. Private equity fund refers to a kind of collective investment that does not publicize publicly and raises funds privately from specific investors. Equity funds refer to funds that mainly invest in the stock market. This is a relative concept. It does not require all funds to buy stocks, but a small amount of funds can also be invested in bonds or other securities. According to China's relevant laws and regulations, no less than 20% of the fund assets must be invested in government bonds. Whether a fund is a stock fund is often judged according to the investment objectives and investment scope agreed in the fund contract. Domestic listed closed-end funds and most open-end funds are stock funds. Bond fund bond fund refers to all or most of the funds invested in the bond market. If all of them are invested in bonds, they can be called pure bond funds, such as Huaxia bond fund; If most of the fund assets are invested in bonds and a few can be invested in stocks, they can be called bond funds, such as Southern Baoyuan Bond Fund, which stipulates that bond investment accounts for 45%-95% of the fund assets and stock investment accounts for 0-35% of the fund assets. When the stock market is not good, you can not hold shares. Index fund index fund is a fund invested in an indexed way. Simply put, it is to choose a market index to track and passively invest in the market, so that the income of the fund is consistent with the income of this market index. Capital preservation fund Capital preservation fund is a kind of semi-closed fund. Within a certain investment period (e.g. 3 years or 5 years), the Fund not only maintains the potential to provide investors with additional returns by investing in other high-yield financial instruments (stocks, derivative securities, etc.), but also provides investors with a certain fixed proportion of principal return (e.g. 100%, 102% or higher). ). Investors can get the guarantee of principal return as long as they hold the due fund. In the case of large market fluctuation or overall market downturn, the capital preservation fund provides a low-risk investment tool with appreciation potential for investors who have low risk tolerance and expect to get higher interest returns than bank deposits and aim at medium and long-term investment. Exchange-traded funds (ETFs) refer to funds that can be traded on exchanges. Exchange-traded funds are still open-end funds in legal structure, but they are mainly traded in the secondary market by bidding; Moreover, cash subscription and redemption are usually not allowed, but a basket of stocks is used to create and redeem fund units. For ordinary investors, exchange-traded funds are mainly traded in the secondary market.