chứng khoán theo một bộ quy định các mục tiêu đầu tư. Có hai loại quỹ: mở quỹ (quỹ lẫn nhau), các quỹ đóng (tin tưởng).Quỹ mở không có số tiền được xác định trước của các cổ phiếu đang lưu hành và họ có thể mua hoặc phát hành cổ phiếu mới tại bất kỳ điểm nào. | Investment Analysis and Portfolio Management and other commodities . But in this course the target is on derivatives where underlying asset is a financial asset. Other investment tools Various types of investment funds Investment life insurance Pension funds Hedge funds. Investment companies investment funds. They receive money from investors with the common objective of pooling the funds and then investing them in securities according to a stated set of investment objectives. Two types of funds open-end funds mutual funds closed-end funds trusts . Open-end funds have no pre-determined amount of stocks outstanding and they can buy back or issue new shares at any point. Price of the share is not determined by demand but by an estimate of the current market value of the fund s net assets per share NAV and a commission. Closed-end funds are publicly traded investment companies that have issued a specified number of shares and can only issue additional shares through a new public issue. Pricing of closed-end funds is different from the pricing of open-end funds the market price can differ from the NAV. Insurance Companies are in the business of assuming the risks of adverse events such as fires accidents etc. in exchange for a flow of insurance premiums. Insurance companies are investing the accumulated funds in securities treasury bonds corporate stocks and bonds real estate. Three types of Insurance Companies life insurance non-life insurance also known as property-casualty insurance and reinsurance. During recent years investment life insurance became very popular investment alternative for individual investors because this hybrid investment product allows to buy the life insurance policy together with possibility to invest accumulated life insurance payments or lump sum for a long time selecting investment program relevant to investor s future expectations. Pension Funds are an asset pools that accumulates over an employee s working years and pays retirement .
