A few terms about funds to solve!

**Expected annualized expected return

The expected annualized expected return refers to the part of the asset appreciation obtained by the manager from using the assets for investment activities, mainly including dividends, dividends, bond interest, bid-ask spreads, deposit interest and other income. Net Expected Annualized Expected Return refers to the balance of Expected Annualized Expected Return minus expenses that can be deducted from Expected Annualized Expected Return in accordance with relevant national regulations.

**Net Expected Annualized Expected Return

It refers to the expected annualized expected income formed by the dividends, dividends, bond interest, bid-ask spread, deposit interest and other income from investment minus the expenses that can be deducted from the expected annualized expected return in accordance with relevant national regulations.

**Cumulative net worth

Cumulative Net Value refers to the sum of the net value of the share and the accumulated dividends since its establishment.

**Discount (premium) rate

Refers to the relationship between the net value of closed-end shares and its secondary market. When the secondary market is higher than the net value of the share, it is a premium transaction, which corresponds to the premium rate; When the secondary market is lower than the net value of the shares, it is a discount transaction, which corresponds to the discount rate.

Valuation of assets

Valuation of assets refers to the process of calculating and evaluating the value of assets and liabilities to determine the net asset value and the net value of shares. Its purpose is to objectively and accurately reflect the value of ** assets.

**Total asset value

The total value of assets refers to the sum of the value of various types of assets, the principal and interest of bank deposits, the subscription receivables and other investments.

Net asset value

Net asset value is the value of total assets minus total liabilities.

** Net worth growth rate

The NAV growth rate refers to the growth rate of NAV over a period of time, and you can use it to assess the performance of your assets over a period of time.

Public Offering**. Public offering is a type of public fundraising that is regulated by the competent authority and is open to all investors. Public offerings** are strictly regulated by law, with standardized operating procedures and information disclosure.

Public Offerings** as opposed to Private Placement**. The closed ** in the Chinese market are all public offerings**.

Private**. Private placement is a type relative to public offering. Private placement is a type of private fundraising by a company from a specific group of people without the supervision of the competent authority.

"Illegal fundraising", which often appears in financial cases, is the act of private placement ** violating the law in the process of financing.

Sunshine Private Placement. Sunshine Private Placement is an investment in the market. Sunshine private placement is a kind of standardized, transparent and relatively safe private placement by three parties, with the trust company issuing products, bank custody funds, and regulatory authorities filing.

Hedge**. Hedging** is an investment strategy of Sunshine Private Equity. **The manager invests the funds obtained from the financing in two forms that are completely opposite to the forecast, and when one loses, the profit of the other party is diluted.

Early hedging can be said to be a form of management based on a conservative investment strategy based on hedging.

For example, in another type of hedging operation, the manager first selects a certain type of bullish industry, buys several high-quality stocks that are bullish in the industry, and sells several inferior stocks in the industry at a certain ratio. The result of this combination is that if the industry is expected to perform well, the quality stocks will rise more than other inferior stocks in the same industry, and the expected annualized expected return of the high-quality stocks will be greater than the losses caused by shorting the inferior stocks; If the expectation is wrong, and the industry does not rise but falls, then the decline of inferior stocks must be greater than that of high-quality stocks, and the profit from short selling must be higher than the loss caused by high-quality stocks.

One-to-many**.

One-to-many means that the company raises funds from more than two specific customers, or accepts the property entrustment of two or more specific customers, and collects its entrusted property in a specific account for investment activities.

**Common terms are: subscription, redemption, regular investment, positioning, position, position, full position, half position, heavy position, light position, short position, closing position, long, short, short and so on.

Position: that is, the ** share held by the investor.

Increase: It means that the net value of ** has risen when the position is opened, and the subscription will continue to increase.

Margin call: refers to the original **net value**, **** a certain amount, at this time, at the low level to cover the purchase of ** to amortize the cost. (**——Simply put, it means that the investor falls below the net value with a certain net value**.)

For example, the yuan bought fell to the yuan, which means that the investor should be on the yuan).

Full position: It is to buy all the investor's funds, just like the warehouse is full. The large amount of capital investment is called a large account, and the larger one is called a banker; The small amount of capital investment is called **, and the smaller one is called Xiaoxiao**.

Half position: that is, half of the funds are used****, and half of the cash is still left in the account. If you use 70% of the capital, it is called 7 into a position....And so on.

If an investor has 20,000 funds and 10,000 yuan to buy **, it is a half-position, which is called a half-position operation. Indicating that the funds were not fully invested is a measure to reduce risk.

Heavy position: Heavy position refers to the purchase of a certain kind of capital, the largest proportion of the invested funds, this kind of heavy stocks. In the same way, if an investor buys three ** and 70% of the funds are invested in one of them, then this ** is the investor's heavy position.

Light position: Light position is relative to heavy position, and vice versa.

Short position: that is, redeem all the funds of a certain **. Or someone redeems it all, holding cash in their hands.

Specifically, for example, redeeming E Fund value today, and after the redemption funds arrive, the redeemed funds will be subscribed to invest in Growth Pioneer, which is equivalent to adjusting your own ** holding portfolio, but the total amount of funds remains unchanged. If it is long, it is to subscribe for ** to close the position; If it is short, it is a redemption ** to close the position.

Long: Optimistic about the market outlook, now with a low net worth to subscribe for a **, and so on after the net value**.

Short: Think the market outlook is bearish, redeem first** to avoid greater losses. Wait for the net value to really ** and then ** close the position, and wait for the net value ** to earn the difference in the area.

Short: Since the net value has been in the middle of the short, the net value is always above their own psychological price, and they cannot be purchased according to the predetermined **, and the short position is called short.

Short squeeze: It means that the rally is very strong, and the net value continues to rise, so that the short seller (that is, the person who is bearish in the market outlook and sells in advance) has no good opportunity to intervene, and the loss continues to expand, and finally has to close the position at a high level. This process is called short squeezing.

According to different criteria, **investment** can be divided into different categories:

1. According to whether the unit can be increased or redeemed, it can be divided into open-ended and closed-ended. Open-ended non-listed trading (it depends on the situation), through banks, brokers, and companies to subscribe and redeem, the scale is not fixed; Closed-end has a fixed duration and is generally listed and traded on the trading venue, and investors buy and sell units through the secondary market.

2. According to the different organizational forms, it can be divided into company type and contract type. **Established by issuing **shares** to establish an investment company**, usually referred to as a corporate **; It is established by the manager, the custodian and the investor through a contract, which is usually called a contractual type. China's **investment** are all contractual**.

3. According to the different investment risks and returns, it can be divided into growth, income and balance**.

4. According to the different investment objects, it can be divided into four categories: currency, bonds, hybrid, and premium.

In the narrow sense, most of the ** refers to the mixed type and **type**, because in the narrow sense, it refers to the **manager to help you invest**, and the active type is mainly the hybrid type and the ** type.

**, in English is fund, in a broad sense, it refers to a certain amount of money set up for a certain purpose.

1.This ** shows the net value in green, with a downward arrow, which represents the net value date of August 23, 2012, which is**.

2.The type is the type, and the type of investment is biased towards it.

3.The net value of the unit is the value of each **share, and it is also what we can use when trading**.

4.Equity date, open ** has only one equity per working day, calculated after **.

5.Annual growth rate. is the level of growth of the ** in the last 1 year, expressed as a percentage. The ** growth rate in the most recent year is negative.

6.The number of shares held is the size of your ** equity forever, and the number of these shares is multiplied by the net value mentioned above, which is your ** market value.

7.Available shares are the number of shares that you can redeem, or convert, and operate. General available shares = held shares, only when you make a trade or operation, a part of the shares may be "in transit", then the available shares will be reduced.

8.The reference market capitalization is the share multiplied by the net value.

9.The way to pay dividends is this**If the dividends are paid, then how is the way? A cash dividend is a bonus that goes directly to your bank card. There is also a way to reinvest dividends, that is, dividends are directly converted into the ** share. This can be changed. **。

**If there are too many terms, let's give some common examples:

Open-ended, closed-ended, subscription, redemption, equity, dividends, conversion, t-day, trading day, rate: loff