公司总裁 / 理财 / 投资与理财——基金(上)

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投资与理财——基金(上)

2022-01-27  公司总裁

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基金有广义和狭义之分。从广义上说。基金是指为了某种目的而设立的具有一定数量的资金。例如投资基金、单位信托基金、公积金、保险基金、退休基金以及各种基金会的基金。我们通常所理解的基金是狭义的基金,即投资基金。

Funds are divided into broad and narrow senses. Broadly speaking. A fund refers to a certain amount of funds established for a certain purpose. Examples include investment funds, unit trust funds, provident funds, insurance funds, pension funds and funds of various foundations. The fund we usually understand is a narrow fund, that is, an investment fund.‍

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证券投资基金的类型:

按法律地位的不同分类:

1、 契约型基金。契约型基金又称单位信托基金,是指将投资人、管理人、托管人三者作为基金的当事人,通过签订基金契约的形式发行受益凭证而设立的一种基金。基金管理人负责基金的管理运作;基金托管人作为基金资产的名义持有人,负责基金的保管,对基金管理人的运作进行监督。

Types of Securities Investment Funds:

Different classifications by legal status:

1. Contractual funds. A contractual fund, also known as a unit trust fund, refers to a fund established by issuing beneficiary certificates in the form of signing a fund contract with investors, managers and custodians as the parties to the fund. The fund manager is responsible for the management and operation of the fund; the fund custodian, as the nominal holder of the fund assets, is responsible for the custody of the fund and supervises the operation of the fund manager.‍

2、公司型基金。公司型基金是指按照公司形式组成的,具有独立法人资格并以盈利为目的的基金公司。公司型基金以发行股份的方式筹集资金,投资者购买基金公司的股份后,以基金持有人的身份成为基金公司的股东,依法享有收益。

2. Corporate funds. A corporate fund refers to a fund company formed in the form of a company, with independent legal personality and for the purpose of making profits. Corporate funds raise funds by issuing shares. After investors purchase the shares of the fund company, they become shareholders of the fund company as fund holders and enjoy the benefits according to law.‍

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按是否可以自由赎买及基金规模是否固定分类:

1、 封闭式资金。封闭式基金指基金的资本总额及发行份数在发行之前就已确定。在发行完毕和规定的期限内,基金资本总额及发行份数是保持固定不变的。投资者只能在二级市场上进行基金的买卖。

According to whether it can be redeemed freely and whether the fund size is fixed:

1. Closed-end funds. Closed-end funds refer to the total capital of the fund and the number of issued shares have been determined before the issuance. After the issuance is completed and within the specified period, the total capital of the fund and the number of issued shares remain fixed. Investors can only buy and sell funds in the secondary market.‍

2、开放式基金。开放式基金是指基金发起人在设立基金时,基金单位的总数不是固定的,而是根据市场供求情况发行份额,或被投资者赎回的投资基金。由于存在赎回机制,需要满足投资者变现的需求,开放式基金一般会从所筹集资金中拨出一定比例,以现金的形式保持这部分资产。

2. Open-end funds. An open-end fund refers to an investment fund in which the total number of fund units is not fixed when the fund sponsor sets up the fund, but issues shares according to market supply and demand, or is redeemed by investors. Due to the existence of a redemption mechanism, which needs to meet the needs of investors to realize cash, open-end funds generally allocate a certain proportion of the funds raised and maintain this part of the assets in the form of cash.‍

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按投资对象不同分类:

1、 股票基金,股票基金是指以股票为主要投资对象的投资基金。与投资者直接投资于股票市场相比,股票基金具有流动性强,分散风险等特点。虽然股票价格会在短时间内上下波动,但其提供的长线回报比现金存款或债券投资高。因此从长远看股票基金收益可观,但风险也比债券基金、货币基金高。

According to different investment objects:

1. Stock funds, stock funds refer to investment funds that mainly invest in stocks. Compared with investors' direct investment in the stock market, stock funds have the characteristics of strong liquidity and risk diversification. While stock prices can fluctuate up and down in a short period of time, they offer higher long-term returns than cash deposits or bond investments. Therefore, in the long run, stock funds have considerable returns, but the risks are also higher than bond funds and currency funds.‍

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2、债券基金。债券基金是指将基金资产投资于债券。通过对债券进行组合投资,寻求较为稳定的收益。通常债券基金收益会受货币市场利率的影响,当市场利率下调时,其收益会上升。当市场利率上调时,其收益会下降。另外汇率也会影响基金的收益。

2. Bond funds. A bond fund refers to investing fund assets in bonds. Through portfolio investment in bonds, seek more stable income. Usually bond fund returns are affected by money market interest rates, and when market interest rates fall, their returns will rise. When market interest rates rise, its earnings fall. In addition, the exchange rate will also affect the return of the fund.‍

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3、货币市场基金。货币市场基金是以货币市场工具为投资对象的投资基金。通常包括短期存款,国债、票据再贴现和大额存单市场。货币市场基金的优点是安全性高、流动性强、管理费用低,是短期闲散资金理想的投资工具。

3. Money market funds. Money market funds are investment funds that invest in money market instruments. Usually includes short-term deposits, government bonds, bill rediscount and large-denomination certificates of deposit markets. The advantages of money market funds are high security, strong liquidity, and low management costs. They are ideal investment tools for short-term idle funds.‍

4、对冲基金。对冲基金是一种风险低、回报稳定的基金。其操作宗旨在于利用期货期权等金融衍生产品,以及对相关联的不同股票进行买空卖空、风险对冲的操作技巧,在一定程度上规避和化解投资风险。对冲基金是以避险为特色的基金。

4. Hedge funds. A hedge fund is a fund with low risk and stable returns. The purpose of its operation is to use financial derivatives such as futures options, as well as the operation skills of short selling and risk hedging for different related stocks, so as to avoid and resolve investment risks to a certain extent. Hedge funds are hedge funds.‍

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5、指数基金。指数基金是指采用被动方式投资,选取某个指数作为模仿对象,按照该指数构成的标准购买该指数包含的证券市场中全部或部分证券,目的在于获得与该指数相同的收益水平。指数基金独特的优势在于仅以市场指数为投资参照物,排除了选择个股和入市时机的管理风险。实现风险高度分散并取得稳定的投资收益。适合那些希望稳定分享证券市场成长的投资者。

5. Index funds. Index funds refer to passively investing, selecting an index as an imitation object, and purchasing all or part of the securities in the securities market included in the index according to the standards of the index, in order to obtain the same level of return as the index. The unique advantage of index funds is that only the market index is used as an investment reference, which eliminates the management risk of selecting individual stocks and entering the market. Achieve a high degree of risk diversification and achieve stable investment returns. It is suitable for investors who want to steadily share the growth of the securities market.‍

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6、衍生基金。投资于金融衍生产品的投资基金即为衍生基金。包括期货基金、期权基金等。

6. Derivative funds. An investment fund that invests in financial derivative products is a derivative fund. Including futures funds, option funds, etc.‍

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翻译来源于谷歌翻译‍

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