What is a fund? Is it different from the national debt?

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With the progress of society and the development of the economy, there are many people who want to use a variety of methods to improve their economic income, so there are many people who are buying some**or some**. Even some people also buy some bonds, so there is a certain difference in the relationship between the three. So today we are mainly talking about, what is the difference between ** and bonds?

The definition of ** and bonds First of all, we need to understand the difference between ** and bonds, before we need to understand what ** and bonds are? The first thing we need to understand is that ** and bonds are both able to allow investors to pass through some secondary markets.

At the same time, they can also help investors to make a certain profit. Then **refers to the fact that we can divide it into open**.

Or closed**, then when we can watch their market or checkout on a fixed software after purchase, we can help ourselves get a certain profit. So bonds are similar in nature to them, and they can help us get certain economic benefits.

The biggest difference between them is that the ownership is different, because we all know that it is a trust relationship between the investor and the manager. Bonds, then, reflect the relationship between debt and debt, and their investment risks are also different, because it is a trust instrument. And its investment direction is mainly some bonds and some valuable **, it is an indirect investment method.

Then bonds are also a kind of financing, it is mainly invested in industry, but this is a direct investment method.

The difference in stability is actually that their stability is also different, because when investors buy some bonds, their return rate can be invested and calculated according to their purchase** and the fixed interest rate. However, ** refers to a different combination of bonds, although the investor will receive a certain return over a certain period of time. However, the benefits they distribute will increase or fall, so it is difficult for us to calculate or risk it in life.

Bonds reflect the trust relationship between investors and managers, while bonds reflect a creditor-debt relationship.

Bonds** are trust instruments, and the main investment direction is bonds and other valuable **, which is an indirect investment method; Bonds, on the other hand, are financing instruments, which are mainly invested in the industry and are a direct investment method.

When an investor buys a single bond, the starting rate of return can be calculated based on the purchase**, fixed interest rate, cash flow and principal after maturity. However, bonds** are a combination of different bonds, although investors also receive regular income distributions, but the income of the distribution rises and falls, so the yield is more difficult to calculate and**.

Generally, a single bond has a definite maturity date, and a bond** consists of a group of bonds with different maturity dates, so there is no fixed maturity date for bonds**, and an average maturity date can only be calculated based on all bonds held by bonds**.

Interest rate risk: The closer a single bond is to maturity, the less interest rate risk it will take. However, bonds** do not have a fixed maturity date, and the interest rate risk taken is estimated based on the average maturity date of the bond, because the average maturity date of the bond** is usually relatively fixed, so the interest rate risk borne by the bond** will also remain at a certain level.

Bonds** have the following features:

Low risk, low return. Due to the stable yield and low risk of bonds, the risk of bonds is low but the rate of return is not high.

The cost is lower. Since bond investment management is not as complex as investment management, the management fee of bonds is also relatively low.

The income is stable, and the investment in bonds has regular interest returns, and the principal is also promised to be repaid at maturity, so the income of bonds** is relatively stable.

Pay attention to current earnings. Bonds** mainly pursue a more fixed income in the current period. Relative to the lack of value-added potential, it is more suitable for investors who are unwilling to take too many risks and seek stable income in the current period.

Of course there is a difference. First of all, the two of them have different definitions, and they have different ownership and different stability. ** is more stable than bonds.

** is a fiduciary relationship, but a bond is a debt relationship. ** is an indirect investment method, and bonds are a direct investment method.

There is a risk of losing the principal, the bond does not, and the money invested in the final flow belongs to capital investment, while the bond is to lend money at an agreed interest rate, which is a creditor's right, and the principal will not be lost.

Of course, there is a difference, the nature of the two is different, and the economic benefits of the two are also different, and the beneficiaries of the two are also different, and the risks and safety of the two are also different.

Their ownership is different, the direction of investment is different, the stability of income is not the same, the risk of investment is not the same, and the maturity date is also different.

1. The definitions are different.

In a broad sense, it refers to a certain amount of money that is set up for a certain purpose. It mainly includes trust investment, provident fund, insurance, retirement, and various wills.

Treasury bonds, also known as state public bonds, are creditor's rights and debts formed by the state on the basis of its credit and in accordance with the general principles of bonds to raise funds through the issuance of bonds to the society.

Treasury bonds are a kind of bonds issued by **** to raise financial funds, issued by **** to investors, promising to pay interest and repay the principal at maturity in a certain period of time, because the issuer of treasury bonds is the state, so it has the highest creditworthiness, is recognized as the safest investment tool.

**It is a certificate of ownership issued by a joint-stock company, and it is a kind of valuable certificate issued by a joint-stock company to each owner as a certificate of shareholding and to obtain dividends and bonuses in order to raise funds. Each share** represents a shareholder's ownership of a basic unit of the business. Every public company will issue a **.

2. The stability of income is different.

Generally before the purchase is uncertain of its earnings, the earnings of the company with the change of the profitability of the listed company in the constant change, the company profits more when the income is more, the company profits less when the income is less, when the company loses. We're going to lose money too. The yield of the bond is fully determined before we buy it, and we can get a fixed interest after maturity.

**It is divided into many kinds, including exponential**, **type**, hybrid**, bond** and currency**, and the stability of income is also different, most of the index**, **type**, and hybrid ** are used for investment, so its income stability is the same as **can not be determined.

The bond type ** is the main investment object is bonds, the income is relatively stable, the currency ** mainly invests in treasury bonds, central bank bills, commercial papers, bank certificates of deposit, short-term bonds, corporate bonds and other short-term monetary instruments, although the income can not be determined, but it is also relatively stable, and the risk is very small, small to negligible.

Therefore, the yield will not be very high, and the annualized rate of return of the average currency** is between 3% and 5%, and it will fluctuate from day to day.

3. The relationship between economic interests is different.

The first holder of a listed company is the shareholder of the company, and they have the right to directly or indirectly participate in the operation and management of the company, attend the general meeting of shareholders, and have partial ownership of the company. The bondholder has no right to intervene in the operation and management of the company, and the bond can only express a certain claim to the company.

** is the product of the ** company that we subscribe or subscribe, and ** company then uses the raised funds to do ** or bonds and other investments, so that we can get a certain income, we buy**, we also have no right to intervene in any behavior of the listed company where ** holds**, and do not have ownership.

1. The transaction cost is very low when trading bonds, and the stamp duty is exempted, which is a major charge in the transaction fee. In addition, in order to promote the development of the bond market, trading commissions have also dropped significantly.

Second, in addition, treasury bonds have a major advantage that other bond varieties do not have, that is, interest is not levied on personal 20% income tax, third, treasury bonds and treasury bonds, the two are related, are a market investment, but they are two varieties, in the income is not guaranteed, not as stable as treasury bonds, will be affected by the fluctuation of interest in the money market and the operation of the company's management, and the redemption will also be affected by the net value.

Fourth, the treasury bond is a fixed term, divided into three years and five years, can be withdrawn in advance, no interest will be calculated within half a year after **, more than half a year will be calculated according to different grades, and ** is operated by ** manager in the bond market, ** has a certain redemption fee when redeeming.

Treasury bonds do not belong to **, but the funds for investing in treasury bonds are raised, and they belong to **.

Treasury bonds are a kind of bonds, which are different from local bonds and corporate bonds, which are bonds issued by the state and are mainly used for national construction.

**It is a capital product issued by a financial institution, usually with a specific purpose and use. When the company operates on the raised, it can purchase bonds, bonds, etc. Therefore, it can be said that treasury bonds belong to some ** things that they like to buy.

Treasury bonds do not belong to **. Treasury bonds are a type of bond issued by the state, which is mainly used for national construction. **It is issued by relevant financial institutions, mainly used for financial investment, to obtain profits, and has certain risks.

1. Treasury bonds are issued by the state, while the treasury bonds are issued by the company.

2. The handling fee for the purchase and sale of treasury bonds is lower than that of the first one.

3. Treasury bonds have low returns and low risks, high risks and uncertain returns, and returns will be high when the market is good.

4. The principal of treasury bonds***, **when the market is not good, it is very likely that the principal will be lost.

5. Treasury bonds are generally fixed interest rates and will not change easily. **Interest rates are subject to change as the market changes.

Extended Materials. There is a broad sense and a narrow sense, in a broad sense, it refers to a certain amount of funds set up for a certain purpose, such as trust investment, provident fund, retirement, etc., and in a narrow sense, it refers to funds with a specific purpose and purpose.

The income of **investment** comes from the future, and the income performance is inseparable from the performance of the underlying market of the investment target, which has certain risks.

** Operational skills.

First: first observe the market and then operate.

The income of the investment comes from the future, for example, if you want to redeem the **type**, you can first look at the future development of the **market, whether it is a bull market or a bear market. Then decide whether to redeem or not, and make a choice in timing. If it's a bull market, you can hold it for a while longer to maximize your gains.

If it is a bear market, it is redeemed early, and the pocket is safe.

Second: Convert to other products.

Converting high-risk products into low-risk products is also a kind of redemption, such as converting **type ** into currency**. Doing so can reduce costs, with conversion fees generally lower than redemption fees, and currency** with low risk, equivalent to cash, and higher yields than current interest.

Therefore, conversion is also a redemption idea.

Third: Regular fixed redemption.

Like regular investment, regular redemption can be used for daily cash management and can smooth out market fluctuations. Regular fixed redemption is a redemption method that complements regular fixed investment.

Treasury bonds, also known as national public bonds, are the creditor's rights and debts formed by the state on its credit basis, in accordance with the general principles of bonds, by raising funds from the society, and are issued by **** to investors, promising to pay interest and repay the principal at maturity. Since the issuer of treasury bonds is the state, it has the highest creditworthiness and is recognized as the safest investment vehicle.

China's treasury bonds refer to the national bonds issued by the Ministry of Finance on behalf of the Ministry of Finance, which are guaranteed by the national financial credibility, and have always been known as "gilt bonds", and prudent investors like to invest in treasury bonds. There are three types of treasury bonds: voucher treasury bonds, bearer (physical) treasury bonds, and book-entry treasury bonds.

What is the difference between bonds and **? Bonds and ** are not the same in terms of issuers, nature, risks, profits and trading venues. The issuer of bonds and ** is different, bonds are issued by public departments, enterprises and other institutions, and are debt certificates to raise funds, **issued by **company, is ** equity certificate of investment, bonds and ** nature are not the same, bonds are valuable for repayment of principal and interest within a certain period of time, ** is that investors hand over funds to ** company management, ** company uses funds to engage in **, bonds and other instruments of investment, ** is a benefit-sharing, risk-sharing **investment, bonds and ** risks are different, The risk of bonds is lower, usually lower than **, and the risk of ** is higher than that of bonds, especially for **type**, the risk will be higher, the profit of bonds and ** is different, because the bond is issued when it is agreed to repay the principal and interest after maturity, so the bond income is stable, is a higher security investment method, you can obtain more stable interest income, ** is to diversify investment in **, bonds, financial derivatives, so ** profits can usually be higher than bonds, bonds and ** The trading venue of bonds is the interbank market and the bank counter market, the interbank market is the bond trading market between various banks, and ordinary investors buy and sell bonds through the bank counter market.