1. reflects different economic relations.

Stock reflects a kind of ownership relationship and is a kind of ownership certificate. Investors become shareholders of the company after purchasing shares. Bonds reflect the relationship between creditor's rights and debts, which is a kind of creditor's rights certificate. Investors become creditors of the company after buying bonds. The fund embodies a trust relationship and is a beneficiary certificate. Investors who buy fund shares will become the beneficiaries of the fund.

2. The raised funds are invested in different ways.

Stocks and bonds are direct investment tools, and the funds raised are mainly invested in the industrial field; Fund is an indirect investment tool, and the funds raised are mainly invested in financial instruments or products such as securities.

3. Investment income is different from risk.

Under normal circumstances, the stock price fluctuates greatly and belongs to high-risk and high-yield investment varieties; Bond can bring some interest income to investors, and its volatility is smaller than that of stocks, so it is a low-risk and low-yield investment product. The fund invests in many stocks, which can effectively spread risks. It is an investment with relatively moderate risk and relatively stable income.

The difference between investment funds and bank deposits

So far, because open-end funds are mainly sold by banks, many investors mistakenly believe that funds are financial products issued by banks, which are not much different from bank savings deposits. In fact, the two are fundamentally different, mainly in the following aspects:

1. Different in nature.

The fund is a beneficiary certificate, and the fund property is independent of the fund manager; Fund managers are only entrusted to manage investors' funds and do not bear the risk of investment losses. Bank savings deposit is a kind of credit certificate, which is manifested as bank debt; Banks have the legal obligation to protect the principal and interests of depositors.

2. The characteristics of income and risk are different.

Fund income has certain volatility and investment risk is high; The interest rate of bank deposits is relatively fixed, so investors are unlikely to lose the principal, and the investment is relatively safe.

3. Different degrees of information disclosure

Fund managers must regularly announce the investment operation of funds to investors; After the bank absorbs deposits, it is not necessary to disclose the use of funds to depositors.