Growth funds, also known as "long-term growth fund", is an investment fund that takes the long-term growth of the fund as its investment goal, generally invests in companies with good reputation and long-term profit, or companies with long-term growth prospects, pursues stable and sustained long-term asset appreciation, and attaches importance to the long-term growth of the fund.

Growth funds pay attention to the growth of listed companies in stock selection. The growth of listed companies can be reflected in the good development prospects of their industries, which belong to the sunrise industry, and the profit rate of the industry is much higher than the average level of other industries. The industry enjoys fiscal and tax incentives or is tilted by national policies in other aspects. It can also be reflected in the prominent market position of listed companies' main business, or the major changes in the fundamentals of enterprises due to asset restructuring such as mergers and acquisitions, and the substantial improvement in the operating conditions of enterprises, thus realizing the rapid growth of listed companies. At present, the non-high-tech sector and biomedical sector are high-growth industries, so growth investment funds are more inclined to the stocks of the above two sectors when selecting stocks.