A kind of can't figure out The difference between funds, private equity funds, public funds, etf funds, asset management, please master answer!

1, ETF. traded open-end index fund belongs to a special type of open-end fund, which synthesizes the advantages of closed-end and open-end funds, investors can both buy and sell ETF shares in the secondary market, but also to the fund management company to subscribe for or redeem the ETF shares, but the subscription and redemption must be in the form of a basket of stocks (or a small amount of cash) in exchange for the fund shares or the fund shares for the return of basket of shares (or a small amount of cash). Due to the existence of both the secondary market trading and the subscription and redemption mechanism, investors can engage in arbitrage trading when there is a spread between the ETF's secondary market trading price and the net value of the fund units. The existence of the arbitrage mechanism allows ETFs to avoid the problem of discounting, which is commonly found in closed-end funds. Investors can purchase ETFs in two ways: they can purchase them from fund managers after the securities market closes, in accordance with the net value of the fund on that day (the same as ordinary open-ended **** same as the fund); they can also purchase them directly from other investors in the securities market, and the purchase price is determined by the buyer and seller*** same as each other, which is often a certain gap between the price and the fund's net value at that time (the same as ordinary closed-ended fund).

2, private equity funds. The financial market is often referred to as "private equity funds" or "underground funds", often refers to the supervision of the competent authorities of the Chinese government, to the unspecified investors in the public issuance of beneficiary certificates of securities investment funds, is a kind of non-public propaganda, private to the particular It is a kind of pooled investment that privately collects funds from specific investors in a non-publicly advertised manner. There are basically two ways, one is based on the signing of a contractual pooled investment contract, the second is based on the *** with the capital into the establishment of a joint-stock company of the company-type pooled investment funds.

3, public funds. Public funds are regulated by the competent government departments, to the unspecified investors to publicly issue beneficiary certificates of securities investment funds, these funds under the strict supervision of the law, with information disclosure, profit distribution, operating restrictions and other industry norms. For example, the closed-end funds in the domestic securities market are public funds. Public funds and private equity funds have their own characteristics, and their healthy development is of vital significance to the development of the financial market. However, at present, only public funds are legally recognized, and the needs of the market are far from being satisfied.

4, asset management. You said asset management, should be referred to the stock-type, hybrid, bond-type, currency-type fund asset allocation is it, on that stock-type fund. It is the fund that more than 60% of the fund assets are invested in stocks. Currently on the market in China, in addition to stock-type funds, there are bond funds and money market funds. Bond fund is a fund that invests more than 80% of fund assets in bonds, and in China, the investment object is mainly treasury bonds, financial bonds and corporate bonds. A money market fund is a fund that invests only in money market instruments. The fund's assets are mainly invested in short-term monetary instruments such as treasury bills, commercial paper, bank time certificates of deposit, short-term government bonds, corporate bonds, interbank deposits and other short-term marketable securities. The yields of these three types of funds, in descending order, are: equity funds, bond funds, and money market funds. However, from the risk factor, the equity fund is much higher than the other two funds.

5, if you want to engage in the securities industry, you first have to pass the securities license exam. /newcn/home/