The 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.

The popular explanation is to invest the assets of A share and B share as a whole, in which the holder of B share pays the agreed interest to the holder of A share every year, and the overall investment profit and loss after paying the interest is borne by B share. ..