The principle of selecting the relevant content of the fund: give up looking at the ranking. In 2008, the ranking of fund performance was released. Although the absolute return is not excellent, the relative ranking can still attract investors' attention. The principle we have always emphasized is that we should not invest in the future solely based on history, but choose funds based on the judgment of the future. What is important here is to analyze the reasons behind the fund performance, specifically analyze the investment style and team ability of the fund, and judge which funds are likely to maintain good performance; Or judge which funds have promotion potential according to their performance in 2008. For long-term configuration varieties, the most important selection criterion is the sustainability of the fund's long-term performance in the future, which needs to be based on the judgment of the investment competitiveness of the fund company. Partial stock funds: Prefer partial stock funds with flexible stock selection style, small and medium scale, strong stock selection ability and flexible operation style, which can be used as the optimal allocation of partial stock funds in the fund portfolio in 2009. In the strategic and structural market of the stock market in 2009, foundations with strong stock selection ability have unique advantages and even better income opportunities. According to these standards, the following five funds can be optimally allocated throughout the year: Xingye's global vision (market, net worth, fund bar), Guohai Franklin's flexible market value, Huabaoduo's strategic growth, Bank of Communications's stability, and Huitianfu's advantages. As the basic allocation in the fund portfolio, investors can also continue to focus on holding funds with stable operation style and relatively balanced profitability and risk control capabilities, such as Huaxia, Nanfang, Yifangda and Shangtou Morgan. These funds are generally large in scale, so they have some limitations in investment flexibility, but their overall investment ability is also quite excellent. Newly issued partial stock funds: a safe choice. At this stage, investors who want to invest in partial stock funds but are worried about investment risks, the newly issued funds are a relatively safe choice. Because the first half of 2009 may be turbulent and risky. Choosing a new fund can not only avoid the uncertain risks of the stock market in the next six months, but also flexibly grasp the investment opportunities. At the end of the year, the number of new funds issued is relatively small, among which three funds are worthy of investors' attention: Shanghai Morgan Small and Medium-sized, Huitianfu Value Selection, and Bank of Communications Schroeder. Trading fund varieties If there are obvious staged prices in the stock market in 2009, such as a full rebound after a decline, then trading fund varieties are most suitable for active investors with band operation. This mainly refers to ETF and tradable index fund LOF. Such fund varieties include SSE 50ETF, SME ETF, dividend ETF, Harvest CSI 300LOF, etc. QDII funds: The performance of a few strategically allocated QDII funds has been criticized since its establishment. In addition to the fund's own investment strategy mistakes, the extremely unfavorable market environment is the main reason. In 2009, under the overall trend of global market recovery from the downturn, QDII funds may recover from the downturn, and the exchange rate risk is also decreasing. Of course, the overall investment of QDII funds is based on the bottom of the major markets they invest in. Based on this judgment, QDII funds that mainly invest in Hong Kong stocks and QDII funds that are flexibly deployed around the world may have certain investment opportunities. Of course, due to the high liquidity cost and transaction cost of QDII fund investment, it is still a relatively high-risk investment variety, and it is not recommended to reconfigure QDII funds. For active investors, a small amount of strategy can be configured. Partial debt funds: bond funds, monetary funds and principal guaranteed fund can all be selected. Bond funds, monetary funds and principal guaranteed fund can be allocated according to their different investment characteristics to meet different investment purposes. Monetary fund has high liquidity, low rate and small differentiation, but the expected rate of return is low; The liquidity and rate of bond funds are good, but the funds are highly differentiated and need to be carefully selected; Capital preservation fund is suitable for investors who tend to be conservative for a long time. It can increase income on the premise of ensuring the principal, but its disadvantages are long investment cycle and high rate. ■