基金类型

工作1 标的 名称 细节 投资对象 股票基金 以股票为主要投资对象的基金，80%以上投资于股票 股票价格每天都在变动中，会由于投资者受影响，人们可以针对一些信息对股票价格高低作出判断，但不能对股票基金份额净值进行判断，风险集中且较大； 股票基金每天一个价格，股票基金份额净值不会受到这个影响，无法判断，风险低于单一股票gu'piao'jia'gemei'tiandou'zai'bian'dong'zhonghuiyou'yutou'zi'zheshou'ying'xiangren'menke'yizhen'duiyi'xie'xin'xi'duigu'piao'jia'ge'gao'dizuo'chu'pan'duandan'bu'neng'dui'gu'piao'ji'jin'fen'e'jing'zhi'jin'xing'he'li'yu'fou'dejin'xing'pan'duanfeng'xian'ji'zhong'qiejiao'dagu'piao'ji'jinmei'tyi'ge'jia'gegu'piao'ji'jinfen'e'jing'zhibu'huishoudao'zhe'ge'ying'xiangwu'fa'pan'duanfeng'xian'di'yudi'yudan'yi'gu'piao 投资市场：国内股票基金、国外股票基金、全球股票基金tou'zi'shi'changguo'nei'gu'piao'ji'jinguo'wai'gu'piao'ji'jinquan'qiu'gu'piao'ji'jin 股票规模：小盘股票（市值<5亿，20%）、中盘股票、大盘股票（市值>20亿，50%）gu'piao'gui'moxiao'pan'gu'piaoyizhong'pan'gu'piaoda'pan'gu'piaoshi'zhiyi 基金投资风格：小中大盘+成长平衡价值共9种ji'jin'tou'zi'feng'gexiao'zhong'da'panzhongdapancheng'zhang'ping'heng'jai'zhigongzhonng 股票性质：价值型股票（收益稳定、价值被低估、安全性高，市盈率、市净率较低），成长型股票（收益增速快、未来发展潜力大、市盈率市净率高），平衡型股票gu'piao'xing'zhixing'zhijia'zhi'xing'gu'piaoshou'yi'wen'dingjia'zhi'bei'di'guan'quan'xing'gaoshi'ying'lvshi'jing'lvjiao'dicheng'zhang'xing'gu'piiaoshou'yi'zeng'su'kuaiwei'laifa'zhan'qian'li'dashi'ying'lvshi'jing'lv'gaoping'heng'xing'gu'piao 债券基金 以债券为主要投资对象的基金，80%以上投资于债券，收益、风险适中 债券基金的收益不如债券的利息固定，债券基金没有确定的到期日，债券基金的收益率比买入并持有到期的单个债券的收益率更难以预测，单一债券的信用风险比较集中，债券基金通过分散投资可以有效避免单一的可能的较高的信用风险shou'yifeng'xianshi'zhongzhai'quan'ji'jin'de'shou'yi'bu'ru'zhai'quan'de'li'xi'gu'dingzhai'quan'ji'jin'mei'you'que'ding'de'dao'qi'rizhai'quan'ji'jin'de'shou'yi'lv'bi'mai'ru'bing'chi'you'dao'qi'de'dan'ge'zhai'quan'de'sdeshou'yi'lv'geng'nan'yi'yu'cedan'yizhai'quan'de'xin'yong'feng'xian'bi'jiao'ji'zhongzhai'quan'ji'jin'tong'guo'fen'san'tou'zi'ke'yi'you'xiao'bi'mian'dan'yideke'neng'de'jiao'gao'dexin'yong'feng'xian 政府债券、企业债券、金融债券等 债券型基金：仅投资于固定收益类金融工具，不能投资于股票 普通债券型基金：主要进行债券投资，80%以上基金资产，也投资于股票（一级债基：以债权投资策略为主，新股申购和股票增发；二级债基：以债权投资策略为主，同时参与新股申购和股票增发、二级市场股票等权益资产投资） 其他策略性：可转债基金 投资者应当关注基金的久期、杠杆率、基金所持债券信用等级 zheng'fu'zh'qiaunzhai'quanqi'ye'zhai'quanjin'rong'zhai'quandengbiao'zhunzhai'quan'xing'ji'jinjintou'zi'yu'gu'ding'shou'yi'lei'jin'rong'gong'jubu'neng'tou'zi'yu'gu'piaopu'tong'zhai'quan'xing'ji'jinzhu'yao'jin'xing'zhai'quan'tou'ziyi'shang'ji'jin'zi'czi'chanyetou'zi'yugu'piaoyi'ji'zhai'jiyizhai'quan'tou'zice'lue'wei'zhuxin'gu'shen'gou'he'gu'piao'zeng'faer'ji'zhai'jiyi'zhai'quantong'shican'yuxin'gu'shen'gou'he'gu'piao'zeng'faer'ji'shi'chang'gu'piao'deng'quan'yi'zi'chan'tou'ziqi'ta'ce'lue'xingke'zhuan'zhai'ji'jintou'zi'zhe'ying'dang'guan'zhu'ji'jindegang'gan'lvji'jin'suo'chi'zhai'quan'xin'yong'deng'ji 货币市场基金 以货币市场为主要投资对象的基金，仅投资于货币市场，风险低、流动性好feng'xian'diliu'dong'xing'hao 应当投资与现金；期限在1年以内的银行存款、债券回购、中央银行票据、同业存单；剩余期限397天以内的债券；认可的其他；不得投资于股票、可转换债券、浮动利率债券、AA+以下的债券等融资工具，禁止的。ying'dang'tou'ziyuxian'jinqi'xianzainian'yi'neideyin'hang'cu'nuancun'kuanzhai'quan'hui'gouzhong'yang'yin'hang'piao'jutong'ye'cun'dansheng'yu'qi'xiantianyi'neidezhai'quanren'ke'deqi'tabu'de'tou'zi'yugu'piaoke'zhuan'huan'zhai'quanfu'dong'li'lv'zhai'quanyi'xia'de'zhai'quandengrong'zi'gong'jujin'zhi'de 混合基金 同时以股票、债券等为投资对象wei 偏股型基金：以股票为主要投资方向的，基准股票>=60%pian'gu'xing'ji'jinyigu'piao'wei'zhu'dezhu'yao'tou'zi'fang'xiang'deji'zhun'gu'piao 灵活配置型：基金名称中有“灵活配置”，基准股票比例60-100，30-60，0-30ling'huo'pei'zhi'xingji'jin'ming'cheng'zhongling'huo'pei'zhiji'zhun'gu'piaobi'li 偏债型基金：>=60%是债券，暂不进行三级分类pian'zhai'xing'ji'jinshizhai'quanzan'bu'jin'xingsan'ji'fen'lei 保本型基金：名字里有保本，不三级分bao'ben'xing'ji'jinming'zi'li'you'bao'benbusan'ji'fen 避险策略型基金：通过一定的避险投资策略，不三级分 前身是保本基金，最大特点是招募说明书中明确引入保本保障机制。基金管理人对投资本金承担保本清偿义务，签订风险买断合同，经证监会认可的其他保本保障机制。 ①对冲保险策略：依赖金融衍生产品，如股票期权、股指期货等，国内尚缺乏这些金融工具 ②固定比例投资组合保险策略CPPI：根据投资组合期末最低目标价值和合理的折现率设定价值底线；计算投资组合现时净值超过价值底线的数额，即安全垫，是风头可承受的最高损失限额；按安全点的一定放大倍数去顶风险资产投资的比例，并将其与资产投资于保本资产（如债权投资） 风险资产投资额=放大倍数*（投资组合现时净值-价值底线）=放大倍数*安全垫 风险资产投资比例=风险资产投资额/基金净值 可以提高放大安全垫的倍数，提高风险资产投资比例以增加基金的收益 安全垫放大倍数增加，提高基金收益，投资风险也同步增大 放大倍数过小，基金收益不足 在放大倍数一定的情况下，随着安全垫价值的上升，风险资产投资比例也将上升。一旦投资组合现时净值向下接近价值底线，系统将自动降低风险资产的投资比例 指标主要包括封闭周期 、保本比例、赎回费、安全垫、担保人。封闭周期长，基金经理操作灵活，可适当提高风险性资产的投资比例，但投资者承担的机会成本越高；保本比例（到期时投资者可获得的本金保障比率），常见为80%-100%。赎回费较高，加大投资者退出难度；安全垫是风险资产可承受的最高损失限额，较高的安全点提高灵活性+保本安全性 bi'xianxingtong'guo'yi'ding'debi'xian'tou'zi'ce'luebu'san'ji'fensan'jifenqian'shen'shi'ao'benbao'ben'ji'jinzui'da'te'dian'shizhao'mu'shuo'ming'shu'zhong'ming'que'ryin'ru'bao'ben'bao'zhang'ji'zhiji'jin'guan'li'ren'dui'jitou'zi'ben'jin'cheng'dan'bao'ben'qing'chang'yi'wuqian'ding'feng'xian'mai'duan'he'tongjing'guozheng'jian'huiren'ke'de'qi'ta'bao'ben'bao'zhang'ji'zhidui'chong'bao'xian'ce'lueyi'lairugu'piao'qi'quangu'zhi'qi'huodengguo'nei'shang'que'fa'zhe'xie'jin'rong'gong'jugu'ding'bi'li'tou'zi'zu'he'bao'xian'ce'luegen'ju'tou'zi'zu'he'qi'mo'zui'di'mu'biao'ji'za'zhijia'zhihehe'li'de'zhe'xian'lvshe'dingjia'zhi'di'xianji'suantou'zi'zu'he'xian'shi'jing'zhi'chao'guo'jia'zhi'di'xian'de'shu'ejian'quan'dianshifeng'touke'cheng'shou'de'zui'gao'sun'shi'xian'exian'eanan'quan'dian'deyi'dingfang'da'bei'shuqu'dingfeng'xian'zi'chan'tou'zi'de'bi'libing'jiang'qi'yu'zi'chantou'zi'yubao'ben'zi'chanruzhai'quan'tou'zifeng'xian'zi'chan'tou'zi'efang'da'bei'shutou'zi'zu'he'xian'shi'jing'zhijia'zhi'di'xiandi'xianfang'da'bei'shuan'quan'dianfeng'xian'zi'chan'tou'zi'bi'lifeng'xian'zi'chan'tou'zi'eji'jin'jing'zhike'yiti'gaofang'da'an'quan'dian'de'bei'shuan'quan'diandebei'shuti'gaofeng'xian'zi'chan'tou'zi'bi'liyizeng'jiaji'jin'de'shou'yian'quan'dian'fang'da'bei'shu'de'zeng'jiabei'shuzeng'jiati'gao'ji'jin'shou'yitou'zi'feng'xian'yetong'bu'zeng'dafang'da'bei'shu'guo'iaoji'jin'shou'yi'bu'zuzaisui'zhe'an'quan'dian'jai'zhi'de'shang'shengdianfeng'xian'zi'chan'tou'zi'bi'li'ye'jiang'shang'shengyi'dantou'zi'zu'he'xian'shi'jing'zhi'xiang'xia'jie'jinjia'zhi'di'xianxi'tong'jiang'zi'dong'jiang'di'feng'xian'zi'chan'de'tou'zi'bi'lifen'xi'zhi'biaozhu'yao'bao'kuofeng'bi'zhou'qibao'ben'bi'lishu'hui'feian'qun'diandan'bao'renfeng'bi'zhou'qi'changji'jin'jing'li'cao'zuo'ling'huoke'shi'dang'ti'gao'feng'xian'xing'zi'chan'de'tou'zi'bi'lidantou'zi'zhe'cheng'dan'de'ji'hui'cheng'ben'yue'gaobao'ben'bi'lidao'qi'shi'tou'zi'zhe'ke'huo'de'de'ben'jinbao'zhang'bi'lvshu'hui'fei'jiao'gaojia'da'tou'zi'zhe'tui'chu'nan'duan'quan'dian'shidianshifeng'xian'zi'chan'ke'cheng'shou'de'zui'gao'sun'shi'xian'ejiao'gao'de'an'quan'dianti'gao'ling'huo'xingbao'ben'an'quan'xing 绝对收益目标基金：混合，不保证保本和收益，分为灵活策略基金与对冲策略基金两个三级分类jue'dui'shou'yi'mu'biao'ji'jinhun'hebu'bao'zheng'bao'ben'heshou'yifen'wei'ling'huo'ce'lue'ji'jin'yu'dui'chong'ce'lue'ji'jin'liang'ge'san'ji'fen'lei 其他混合型基金：无法明确归属的混合基金，不三级分qi'ta'hun'he'xing'ji'jinwu'fa'ming'que'gui'shu'de'hun'he'ji'jin 基金中基金 以基金为主要投资标的，80%以上的基金资产投资于其他基金份额。 强化分散投资，防范集中持有风险：规定单只FOF的市值不得高于FOF资产净值的20%，且不得持有其他FOF 不允许FOF持有分级基金等具有衍生品性质产品 防范利益输送 减少双重收费 FOF参与持有基金的份额持有人大会的原则 强化FOF信息披露 保证估值的公允性 明确基金公司开展FOF业务的组织架构 强化相关主体责任 美国是FOF的发源地 yiji'jin'wei'zhu'yao'tou'zi'biao'di'diyi'shang'de'ji'jin'zi'chantou'zi'yuqi'ta'ji'jin'fen'eqiang'hua'fen'san'tou'zifang'fan'ji'zhong'chi'you'feng'xiangui'dingdan'zhideshi'zhibu'degao'yuzi'chan'jing'zhi'deqie'bu'de'chi'you'qi'tabu'yun'xuchi'you'fen'ji'ji'jindengju'you'yan'sheng'pin'xing'zhi'chan'pinfang'fan'li'yi'sh'songjian'shao'shuang'chong'shou'feican'yu'chi'you'ji'jin'defen'e'chi'you'ren'da'hui'de'yuan'zeqiang'huaxin'xi'pi'lubao'zheng'gu'zhi'degu'zhidegong'yun'xingming'que'ji'jin'gong'si'kai'zhanye'wu'de'zu'zhi'jia'gouqiang'hua'xiang'guan'zhu'ti'ze'renmei'guo'shisdefa'yuan'di 主动管理主动型FOF：基金经理主动对不同资产的未来表现进行判断并择时，然后基于配置结论将标的投资于各主动管理型基金 主动管理被动型FOF：通过主动管理的方式投资于被动型基金产品 被动管理主动型FOF：FOF母基金采用指数编制的方式或特定比例，而被投资的子基金则为主动管理型基金 被动管理被动型FOF：FOF母基金采用指数编制的方式或者特点比例，被投资的子基金为被动管理型基金 ETF联接基金：将绝大部分基金财产投资于某一ETF（称为目标ETF）、密切跟踪标的指数表现、可以在场外申购赎回的基金，投资于目标ETF的资产不得低于连接基金资产净值的90%，其余部分应投资于指数和备选成分股，ETF管理人不得对联接基金中的ETF部分计提管理费 联接基金依附于主基金投资，是同一法律实体的两个不同部分，联接基金处于从属地位 提供了银行、证券公司场外、互联网公司平台等申购ETF的渠道 可以提供目前ETF基金不具备的定期定额投资等方式来介入ETF基金的运作 联接基金不能参与ETF的套利，主要是为了做大指数基金的规模，推动指数化投资 联接基金是一种特殊的FOF，ETF联接基金持有目标ETF的市值不得低于该链接基金资产净值的90%zhu'dong'guan'li'zhu'dong'xingji'jin'jing'li'zhu'dongdui'bu'tong'zi'chan'de'wei'lai'biao'xian'jin'xing'pan'duanbingze'shiran'hou'ji'yu'pei'zhi'jie'lun'jiang'biao'di'tou'zi'yu'ge'zhu'dong'guan'li'xing'ji'jihouji'yupei'zhiyugeji'jinzhu'dong'guan'li'bei'dong'xingtong'guo'zhu'dong'guan'li'de'fang'shitou'zi'yubei'dongxingji'jin'chan'pinpinbei'dong'guan'li'zhu'dong'xingmu'ji'jincai'yongzhi'shu'bian'zhi'de'fang'shihuo'te'ding'bi'lier'bei'tou'zi'dezi'ji'jinzebei'dong'guan'li'bei'dong'xingmu'ji'jincai'yong'zhi'shu'bian'zhi'de'fang'shi'huo'zhete'dianbi'libei'tou'zi'de'zi'ji'jin'wei'bei'dong'guan'li'xing'ji'jinlian'jie'ji'jinjiang'jue'da'bu'fen'ji'jin'cai'chan'tou'zi'yumou'yicheng'weimu'biaomi'qie'gen'zongbiao'dizhi'shu'biao'xianke'yi'zaizaichang'waishen'gou'shu'hui'de'ji'jintou'zi'yu'mu'biaoyudezi'chan'bu'de'di'yu'lian'jie'ji'jin'zi'chan'jing'zhi'deqi'yu'bu'fenying'tou'zi'yuzhi'shu'he'bei'xuan'cheng'fen'guguan'li'renbu'de'duilian'jie'ji'jinzhongdebu'fenji'ti'guan'li'feilian'jie'ji'jinyi'fu'yuzhu'ji'jin'tou'zishi'tong'yifa'lv'shi'tide'liang'gebu'tong'bu'fenlian'jie'ji'jin'chu'yu'cong'shu'di'weiti'gong'leyin'hangzheng'quan'gong'sichang'waihu'lian'wang'gong'siping'taidengshen'goudequ'daoke'yi'ti'gong'mu'qianji'jinbu'ju'bei'de'ding'qi'ding'e'tou'zi'deng'fang'shi'lai'jie'ruji'jin'de'yun'zuolian'jie'ji'jin'bu'neng'can'yudetao'lizhu'yao'shi'wei'le'zuo'da'zhi'shuji'jin'de'gui'motui'dong'zhi'shu'hua'tou'zilian'jie'ji'jinshiyi'zhong'te'shu'delian'jie'ji'jinchi'you'mu'biaodeshi'zhi'bu'de'di'yu'gai'lian'jie'ji'jin'zi'chan'jing'zhi'de 另类投资基金 以股票、债券、货币等传统资产以外的资产作为投资标的：黄金ETF、商品期货ETF、非上市股权基金、房地产基金yigu'piaozhai'quanhuo'bi'deng'chuan'tngzi'chan'y'wai'de'zi'chan'zuo'wei'tou'zi'biao'dihuang'jinshang'pin'qi'huofei'shang'shi'gu'quan'ji'jinfang'di'chan'ji'jin 投资目标tou'zi'mu'biao 增长型（成长型）基金zeng'zhang'xing'ji'jincheng'zhang'xingxing 追求资本增值，较少考虑当期收入，良好增长潜力；风险大、收益高jiao'shao'kao'lv'dang'qi'shou'ruliang'hao'zeng'zhang'qian'lifeng'xian'dashou'yi'gao 收入型基金shou'ru'xing'ji'jin 追求稳定的经常性收入，大盘蓝筹股、公司债、政府债券；风险小、收益较低zhui'qiu'wen'ding'de'jing'chang'xing'shou'ruda'pan'lan'chou'gugong'si'zhaizheng'fu'zhai'quanfeng'xian'xiaoshou'yi'jiao'di 平衡型基金ping'heng'xing'ji'jin 资本增值+当期收入；风险、收益介于之间zi'ben'zeng'zhidang'qi'shou'rufeng'xianshou'yijie'yuzhi'jian 投资理念tou'zi'li'nian 主动型基金zhu'dong'xingji'jin 超越基准、组合表现chao'yue'ji'zhunzu'hebiao'xian 被动型基金=指数基金bei'dong'xing'ji'jinzhi'shu'ji'jin 以某一指数标准购买该指数包含的全部或部分证券市场中的基金，目的在于达到与该指数同样的收益水平。发展迅速，客观稳定个、费用低廉、分散风险、监控便利。ETFyimou'yizhi'shu'biao'zhungou'maigai'zhi'shu'bao'han'dequan'bu'huo'bu'fenzheng'quan'shi'chang'zhogn'deji'jinmu'di'zai'yu'da'dao'yu'gai'zhi'shu'tong'yang'de'shou'yi'shui'pingda'daofa'zhan'xun'suke'guan'wen'dingfei'yong'di'lianfen'san'feng'xianjian'kong'bian'li 交易型开放式指数基金ETF：以某一选定的指数所包含的成分证券或商品为投资对象，依据构成指数的证券或商品的种类和比例，采取完全复制或抽样复制，进行被动投资的指数基金。 投资者向基金管理公司申购ETF，需要拿这支ETF指定的一篮子证券或商品来换取；赎回时得到的不是现金，而是相应的一篮子证券或商品；如果想变现，需要在卖出这些证券或商品。实物申购、赎回机制是ETF最大的特色之一。只有资金达到一定规模的投资者才能参与ETF一级市场的实物申购、赎回。 ETF一级市场与二级市场并存交易：资金达到一定规模（30万份基金份额+）才能进入一级市场，中小投资者被排斥在一级市场外；二级市场上ETF与普通股票一样在市场挂牌交易（ETF份额交易无印花税），二级市场交易价格与基金份额净值总是比较接近，套利机会终消失 当二级市场ETF交易价格低于其份额净值，折价交易，导致ETF总份额减少；反之溢价交易，总份额扩大 ETF与LOF的区别： ETF与投资者交换的事基金份额与一篮子证券或商品，只能通过交易所进行申购、赎回，只有资金一定规模的投资者才能参与ETF一级市场的交易；完全被动式管理；每15秒提供基金份额参考净值报价； LOF申购、赎回的事基金份额与现金的对价，也可以在代销网点交易，申购、赎回没有特别要求，可以是指数基金也可以是主动管理型基金，一天提供1次或几次基金参考净值报价 股票型ETF、债券型ETF、商品型ETF、完全复制型ETF、抽样复制型ETF 我国第一支ETF是2004年年底的上证50ETFtou'zi'zhexiangji'jin'guan'li'gong'si'shen'gouxu'yaonazhe'zhizhi'ding'de'y'lan'zihuo'shang'pin'lai'huan'qushu'hui'shi'houde'dao'de'bu'shi'xian'jiner'shi'xiang'ying'de'yi'lan'zi'zheng'quan'huo'shang'pinru'guo'xiang'bian'xianxu'yao'zai'mai'chu'zhe'xie'zheng'quan'huo'shang'pinshi'wu'shen'goushu'hui'ji'zhi'shizui'da'dete'se'zhi'yizhi'you'zi'jinda'daoyi'ding'gui'mo'detou'zi'zhe'cai'neng'can'yuyi'ji'shi'chang'de'shi'wu'shen'goushu'huiyi'ji'shi'chang'yuer'ji'shi'changbing'cunjiao'yi'zhi'duzi'jin'da'dao'yi'ding'gui'mowan'fenji'jin'fen'ecai'neng'jin'ruyi'ji'shi'changzhong'xiao'tou'zi'zhe'bei'pai'chi'zai'yi'ji'shi'chang'waier'ji'shi'chang'shangyupu'tong'gu'piao'yi'yangzai'shi'chang'gua'pai'jiao'yifen'e'jiao'yi'wu'yin'hua'shuier'ji'shi'chang'jiao'yi'jia'ge'yuji'jin'fen'e'jing'zhi'zong'shi'bi'jiao'jie'jintao'li'ji'hui'zhong'yuxiao'shidanger'ji'shi'changjia'j'o'yi'jia'ge'di'yu'qi'fen'e'jing'zhizhe'jia'jiao'yijiao'yidao'zhizong'fen'e'jian'shaofan'zhiyi'jia'jiao'yizong'fen'ekuo'dayudequ'bieyutou'zi'zhejiao'huan'de'shiji'jin'fen'e'yu'yi'lan'zi'zheng'quan'huo'shang'pinzhi'neng'tong'guo'jiao'yi'suo'jin'xing'shen'goushu'huizhi'youzi'jinyi'ding'gui'mo'detou'zi'zhe'cai'nengcan'yuyi'ji'shi'cangdejiao'yiwan'quan'bei'dong'shi'guan'li'fang'fameimiaoti'gongji'jin'fen'e'can'kao'jing'zhi'bao'jiashen'goushu'hui'de'shiji'jin'fen'e'yu'xian'jin'dexian'jindedui'jiaye'ke'yi'zai'dai'xiao'wang'dian'jiaojiao'yishen'goushu'huihuimei'you'te'bie'yao'qiuke'yi'shi'zhi'shu'ji'jin'ye'ke'yi'shi'zhu'dong'guan'li'xingji'jinyi'tian'huo'zhe'jiti'gongcihuoji'ciji'jin'can'kao'jing'zhi'bao'jiagu'piao'xingzhai'quan'xingshang'pin'xingxingwan'quan'fu'zhi'xingchou'yang'fu'zhi'xingwo'guo'di'yi'zhishiniannian'di'deshang'zheng 资金来源用途分类zi'jin'lai'yuanyong'tu'fn'lei 在岸基金zai'an'ji'jin 本国筹集，投资于本国ben'guo'chou'ji'zi'jinben'guo 离岸基金li'an'ji'jin 某一国筹集，投资于本国或第三国mou'yi'guoguochou'jitou'zi'yuben'guo'huo'di'san'guo 国际基金guo'ji'ji'jin 本国筹集，投资与国外，QDIIben'guo'chou'jitou'zi'yu'guo'wai'shi'chang 合格境内机构投资者。可投资银行存款、政府债券、公司债券、可转换债券、住房按揭支持证券，结构性投资产品、延期合约、期货等金融衍生产品 不得投资于购买不动产、购买房地产抵押按揭、贵重金属、实物商品、证券承销、卖空、10%he'ge'jing'nei'ji'gou'tou'zi'zheke'tou'ziyin'hang'cun'kuanzheng'fu'zhai'quangong'si'zhai'quanke'zhuan'huan'zhai'qunzhai'quanzhu'fang'an'jie'zhi'chizheng'quanjie'gou'xing'tou'zi'chan'pinyan'qi'he'yueqi'huodeng'jin'rong'yan'sheng'chan'pinbu'de'tou'zi'yugou'mai'bu'dong'changou'mai'fang'di'chan'di'ya'an'jiegui'zhong'jin'shushi'wu'shang'pinzheng'quan'cheng'xiaomai'kong 特殊类型基金te'shu'lei'xing'ji'jin 避险策略基金bi'xian'ce'lue'ji'jin 原称保本基金，通过一定的保本投资策略进行运作bao'ben'ji'jintong'guo'yi'ding'de'bao'ben'tou'zi'ce'lue'jin'xing'yun'zuo 上市开放式基金LOFshang'shi'kai'fang'shi'ji'jin 既可以再场外市场进行基金份额申购、赎回，又可以在交易所交易、申购、赎回的开放式基金。不会出现封闭式基金的大幅折价现象jike'yizaichang'wai'shi'changjin'xingji'jin'fen'eshen'goushu'huiyou'ke'yizai'jiao'yi'suojiao'yishen'goushu'hui'dekaf'iang'shi'ji'jinbu'hui'chu'xianfeng'bi'shi'ji'jin'de'da'fu'zhe'jia'xian'xiang 分级基金fen'ji'ji'jin 通过事先约定基金的风险收益分配，将基础份额分为风险不同的子份额，并可将其中部分或全部份额上市交易的结构化证券投资基金。分级基金的基础份额称为母基金份额，预期风险收益较低的是A类份额，较高为B类 分级基金特点：A类、B类份额分级，资产合并运作；基金份额可在交易所上市交易；内涵衍生工具与杠杆特性；多种收益实现方式、投资策略丰富 tong'guo'shi'xian'yue'ding'ji'jin'de'feng'xian'shou'yi'fen'peijiang'ji'chu'fen'e'fen'weifeng'xianbu'tongdezi'fen'ebing'ke'jiang'qi'zhong'bu'fen'huo'quan'bu'fen'eshang'shi'jiao'yi'dejie'gou'huazheng'quan'tou'zi'ji'jinfen'ji'ji'jin'de'ji'chu'fen'e'cheng'weimu'ji'jin'fen'eyu'qi'feng'xian'shou'yi'jiao'di'deshilei'fen'ejiao'gaoweileifen'jiji'jinte'dian 运作方式分类：封闭式分级基金（母基金份额只能在基金发行时购买，发行结束后不能申购赎回，只能通过二级市场买卖分级份额（A或B））。开放式分级基金能够满足投资者在基金日常运作期间申购赎回，同时通过配对转换的功能实现母基金份额与分级份额之间的联通。封闭式有3年期或5年期的存续期限，到期后通常转为普通LOF，不再分级 投资对象分类：股票型、债券型、QDII 投资风格分类：主动投资型分级基金与被动投资（指数化）型分级基金 募集方式分类：合并募集（统一以母基金代码进行募集，募集完成后，可将场内基金份额按约定比例分拆为两类子份额）；分开募集（基金以子代码进行分开募集，通常为债券型分级基金） 子份额之间收益分配规则分类 按是否存在母基金份额分类 按是否具有折算条款分类：定期、不定期yun'zuo'fang'shifen'leifeng'bi'shifen'ji'ji'jinmu'ji'jin'fen'e'zhi'neng'zai'ji'jin'fa'xing'shi'gou'maifa'xing'jie'shu'hou'bu'neng'shen'gou'shu'huizhi'neng'tong'guo'er'ji'shi'chang'mai'mai'fen'jifen'ehuokai'fang'shifen'ji'ji'jinneng'gou'man'zutou'zi'zhezai'ji'jin'ri'chang'yun'zuo'qi'jian'shen'gou'shu'hui'fen'jitong'shitong'guopei'dui'zhuan'huan'de'go'neng'shi'xianmu'ji'jin'fen'e'yufen'ji'fen'e'zhi'jian'de'lian'tongfeng'bi'shiyounianqihuonian'qidecun'xu'qi'xiandao'qi'houtong'chang'zhuan'wei'pu'tongbu'zai'fen'jitou'zi'dui'xiang'fen'leigu'piao'xingzhai'quan'xingtou'zi'feng'ge'fen'leizhu'dong'tou'zi'xing'fen'ji'ji'jinyubei'dong'tou'zizhi'shu'huaxingfen'ji'ji'jinmu'ji'fang'shi'fen'leihe'bing'mu'jitong'yiyimu'ji'jin'dai'ma'jin'xing'mu'jimu'ji'wan'cheng'houke'jiang'chang'neizi'fen'efen'kai'mu'jifen'kai'mu'jitong'chang'wei'zhai'quan'xing'fen'ji'ji'jinzi'fen'e'zhi'jian'shou'yi'fen'pei'gui'ze'fen'leian'shi'fou'cun'zai'mu'ji'jin'fen'e'fen'leian'shi'fou'ju'you'zhe'suan'tiao'kuan'fen'leiding'qibu'dign'qi