1. The reason why the A share of the graded fund is discounted is because the A share is generally the share of fixed income. Because it is a fixed income, the yield is not high, so many people don't like such a low yield. If investors don't like it, there will naturally be discounts-discounts are generally low and unattractive; The reason why A shares rose when the market fell was because A shares were fixed income. When the stock market plummets, the pursuit of safety will make a lot of money invest in a stock, and it will rise. 2. Structured Fund, also known as "structured fund", refers to a fund variety with two levels (or multiple levels) of risk-return performance with certain differentiated fund shares through the decomposition of fund income or net assets under a portfolio. Its main feature is to divide the fund products into two or more types of shares and give different income distribution respectively. The sum of the products of the net value of each sub-fund of the graded fund and the share ratio is equal to the net value of the parent fund. For example, the net value of the parent fund split into two types of shares = the net value of class A sub-base X A share%+the net value of class B sub-base X B share%. If the parent fund is not split, it is a general fund.