Don't just stare at open-end funds, but also pay attention to closed-end funds. Open-end fund and closed-end fund are two different forms, and each has its own advantages in operation. Open can be redeemed at any time according to the net value, while closed has no redemption pressure, which makes its capital utilization efficiency much higher than open. For example, in 2005, the average income of 54 closed-end funds was 3.04%, which exceeded the average income of 2. 12% of open-end stock funds and 2.85% of allocated funds. Moreover, many closed-end funds are seriously discounted at present, and the discount rate is between 4.33% and 29.77%. Take Changsheng Fund Management Company as an example: On August 10, 2007, the discount rate of Tongsheng Fund was 29.4 1%, which means you can buy a fund with a net value of 2.5996 yuan with 1.835 yuan. And at present, 20% of the old closed-end funds are investing in government bonds. When the stock market falls, there will be 20% safe funds. Therefore, closed-end funds are now a golden investment opportunity. Please don't just focus on open-end funds.