Fund, in English, refers to a certain amount of funds set up for a certain purpose. It mainly includes provident fund, trust and investment fund, insurance fund, retirement fund and various foundation funds.
From the accounting point of view, capital is a narrow concept, which refers to funds with specific purposes and uses. The fund we are talking about mainly refers to the securities investment fund.
According to whether fund units can be increased or redeemed, they can be divided into open-end funds and closed-end funds. Open-end funds are not listed and traded, 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.
Hedge Fund, which means "risk hedge fund", originated in the United States in the early 1950s. At that time, its operation purpose was to use financial derivatives such as futures and options to buy and sell related stocks, and the risk hedging operation skills could avoid and resolve investment risks to a certain extent.
1949 The first Jones hedge fund with limited cooperation in the world was born. Although hedge funds appeared in the 1950s, they did not attract much attention in the next 30 years. Until 1980s, with the development of financial liberalization, hedge funds had broader investment opportunities and entered the stage of rapid development.
In 1990s, the threat of global inflation gradually decreased, financial instruments became more mature and diversified, and hedge funds entered a stage of vigorous development. According to the British Economist, from 1990 to 2000, more than 3,000 new hedge funds appeared in the United States and Britain.
After 2002, the return rate of hedge funds declined, but the scale of hedge funds is still not small. According to the Financial Times 20 15 10.22, as of 20 12, the total assets of the global Hui Kai wealth hedge fund have reached 1. 1 trillion dollars.