1, hybrid bond fund (tier 1) means that hybrid funds mainly invest in bonds.

2. The purpose of hybrid fund design is to let investors diversify their investments by choosing a fund type, without buying different styles of stock funds, bond funds and money market funds. Hybrid funds adopt both aggressive and conservative investment strategies, and their returns and risks are lower than those of stock funds and higher than those of bonds and money market funds. It is a wealth management product with moderate risk. Some well-run hybrid funds will even exceed the level of equity funds.

3. Bond funds, also known as bond funds, refer to funds that invest exclusively in bonds. By pooling the funds of many investors, they make portfolio investments in bonds and seek relatively stable returns. According to the classification standard of China Securities Regulatory Commission, bond funds refer to funds with more than 80% of fund assets invested in bonds. Bond funds can also put a small amount of money into the stock market. In addition, investing in convertible bonds and issuing new shares are also important channels for bond funds to obtain income.

Hybrid fund refers to a fund that invests in 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, which is more suitable for more conservative investors. Hybrid fund is a kind of fund that aggregates investors' funds in the form of partnership law. For example, banks or insurance companies organize funds and charge them fees. Typical partners include trusts or retirement accounts, whose asset portfolios are much larger than those of individual investors, but they are still too small if managed independently.

In form, the hybrid fund is similar to the open-end fund, but it does not take the fund share as the investment carrier, but provides a fund unit that can be bought and sold at the net asset value price. Banks or insurance companies will provide a lot of different mixed funds for trust or retirement accounts to choose from. Such as money market funds, bond funds and common stock funds.