In March 2007, the Fund Department of China Securities Regulatory Commission issued a notice to all fund management companies and fund custodian banks, requiring fund managers to collect fund subscription fees according to the net subscription amount from the date of issuance of the notice. The calculation formula corresponding to the subscription fee and subscription share of the Fund is: net subscription amount = subscription amount /( 1+ subscription rate); Subscription fee = subscription amount-net subscription amount (note: subscription fee = fixed subscription fee amount for subscriptions with fixed subscription fee); Subscription share = (net subscription amount+subscription interest)/par value of fund share. For example, if an investor invests 30,000 yuan to subscribe for an open-end fund, and the interest generated by the subscription fund during the raising period is 5 yuan, the corresponding subscription rate is 1.8%, and the face value of the fund share is 1 yuan, then the subscription fee and subscription share are: net subscription amount = 30,000/(1+1.

Classification of funds:

According to different standards, securities investment funds can be divided into different types:

1. According to whether the fund unit can be increased or redeemed, it can be divided into open-end funds and closed-end funds. Open-end funds are not traded on the market (as the case may be), but are purchased and redeemed by banks, brokers and fund companies, and the fund scale is not fixed; Closed-end funds have a fixed duration and are generally listed and traded on the stock exchange. Investors buy and sell fund shares through the secondary market.

2. According to different organizational forms, it can be divided into corporate funds and contractual funds. A fund is established by issuing fund shares to establish an investment fund company, which is usually called a corporate fund; The establishment of fund managers, fund custodians and investors through fund contracts is usually called contractual funds. China's securities investment funds are all contractual funds.

3. According to the difference of investment risk and income, it can be divided into growth fund, income fund and balanced fund.

4. According to different investors, it can be divided into stock funds, bond funds, money market funds and futures funds.