Fund Classification
Equity Fund (industry type, type quantify, actively managed)
Bond Fund (pure debt, a bond, two bonds, convertible bonds)
Monetary Fund
Mixed Fund
:( quantify the enhanced index funds, passively managed)
QDII
Grading Fund
Capital Preservation Fund
Money fund
ETF
LOF
FOF
Ref: Fund Classification go into the details - know almost
Raised funds Strategy
Cemetery Fund from the general direction of policy to classify, it can be divided into actively managed funds and passively managed funds, namely foreign and called ACTIVE MANAGEMENT PASSIVE MANGEMENT, and or MANAGED FUND INDEX FUNDS.
A proactive management strategy can be part of the class consists of the following components:
1. Type of securities to invest in, such as pure equity strategy, pure bond of pure derivatives, hybrid and so on.
2. The area of investment, such as the world, the euro area, China, and even specific to certain provinces.
3. The investment forum, such as medical forum, science and technology sections, mixed sections, the concept of sections and so on.
4. forum again broken down, it can be divided into large, medium and small-cap, unlimited, value stocks, growth stocks and so on.
5. If the bond funds, then there can be divided into investment targets for the investment-grade bonds and high-yield bonds.
The selected mode can be divided into stocks fundamental categories, quantization type, mixed type.
The growth can be divided into capital appreciation and send cash type.
8. There are many other minor components. Several individuals listed above them as the main level.
Stock-picking strategy
Low volatility strategies : low volatility strategy that is based on the volatility of the stock screening stocks, generally use the most recent year Japanese yield volatility (standard deviation) of this indicator.
Dividend Strategy : screening maintain a high dividend companies. Dividend Index has a strong defense and counter-cyclical, performance in bull and bear markets have excess return compared to the market more stable.
Value strategy: value strategy more concerned about the static value of the business (present value), identified the main tangible assets. The main value of the return and earn money valuation fluctuations, subject to the overall impact of cyclical stocks is relatively large. Value index can be used as indicators of short-term peak of the bull market or, if you see the value index underperformed the index began to fall, or at least can be explained in a bull market to post.
Quality Strategy: common mass index, refers to the quality of corporate earnings for the index stock index constructed to include stocks generally referred to as the White Horse Unit. Generally use return on equity (ROE), earnings quality, financial risks and other quality factors.
Fundamental Strategy
Ref: Strategy Fund investments - know almost
Private equity investment strategy
Equity Hedge
Stock bulls
Investment value: low price-earnings ratio and book value, high dividend
Investment growth: Such funds tend to choose growth stocks, those companies with high growth potential. In the course of such funds is more optimistic about the stock in the company's development and profitability in the industry, usually requires the valuation is not as strict value faction, even though stock prices have been very expensive, as long as the listed company has a growth rate matched its high price-earnings ratio, it will hold.
Investment Trends: Trends investors believe the stock has run a certain inertia, when the ticket pricing upward trend, due to inertia will continue to run up, and vice versa. Such funds are usually more concerned about the operation in technical analysis of the stock market and the direction of movement to study them, when shares rose jiacang, the stock decline is to lighten up. In addition, some do very short-term trend (trend as intraday) private equity fund.
Industry investment: focus on a particular industry or investment strategy, investment opportunities in certain industries, such funds are currently less
Long and short stock
Alpha strategy: by holding a portfolio of stocks long, and short index futures fully hedged equity portfolio Beta exposure, to achieve full market neutral. Quote change the net worth of such funds largely unaffected by market fluctuations, revenue mainly due to the excess return of the portfolio outperformed the broader market. Alpha strategy is the advantage of small fluctuations in the net, in shock and falling market performance is very prominent. The biggest risk is the equity portfolio strategy failed to outperform the index, so the fund manager's stock-picking methods and the ability to be a great test. Alpha Strategy fund will typically carried out by means of quantitative model stock pool filter, match equity portfolio with a beta value of stock index futures and so on.
Hedging: While holding the portfolio of long to short stock index futures to hedge against systemic risk, and stock index futures is usually a short one-way operation. Operating practices similar to alpha strategy, but this strategy is not as alpha strategy is to eliminate the dimension from Beta, but appeared short index futures fell markedly to achieve when hedging, the purpose of reducing the net value of the fund retracement in the market.
Trend Strategy: This strategy involves two-way operation of long and short stock and stock index futures investment, the purpose is to increase the time significant trend in the stock market or the entire income range. Long-short strategy that is held stocks undervalued stocks and selling overvalued stocks, which can generate revenue regardless of the CBBC City.
Time-driven
Specializing in investments in private placement of shares. Estimate the probability of an event occurring and its impact on the price of the underlying asset, and early intervention events waiting to happen, and then choose Exit. The strategy has some living space in the A-share market in China is weak effectiveness.
Private placement
Private placement is usually a good expected return, on the one hand set by the behavior of listed companies have a good price, on the other hand, will increase due to get the "buy price" and therefore have the advantage of a discount. However, the private placement funds typically require a larger scale in order to achieve effective risk diversification, and will face the situation with the fund-raising period set by the mismatch of the project cycle. In addition, because there will be set by the investor holding a 12-month lock-up period, set by the fund strategies with respect to the liquidity of the stock fund category of poor.
Mergers and acquisitions
By betting the stock restructuring concept, after the formation of good stock when the company announced a profit mergers and acquisitions.
Participation in new shares
Hot topics
Fund managers in the short-term investment opportunities caused by the hot topics, namely the concept of speculation. When the government enacted policies favorable formation of industry, companies with mergers and acquisitions and other events are expected to have a significant impact on the market, such as the recent free trade zone, Tesla [microblogging] concept have led to the sharp rise in the number of related stocks. Private equity fund drive is hot common strategy, but not the mainstream strategy, private equity funds usually only use a small part of the funds to occasionally participate.
Special Event
The frequency of special events is very low, but it does happen some special events will bring short-term arbitrage opportunities, as adjusted stock index constituent stocks of listed companies an important announcement, behavioral finance. For example, when the CSI 300 adjustments, because the tracking index funds will then transfer positions, and therefore do more species are transferred into the index, short varieties be recalled. There are some private institutions to use behavioral finance to investment, namely the use of market prices caused by deviation of the effectiveness of non-profit.
Macro
Commodity
Macro hedge
), Bond bulls subjective, passive index, enhanced index, equity strategist quantify, IMF, QDII