1. Policy risk. Changes in national macro policies, such as fiscal policy, monetary policy, industrial policy and regional development policy, lead to market price fluctuations, affect fund income and generate risks.
2. Business cycle risk. With the cyclical change of economic operation, the income level of the securities market also changes periodically, and the income level of fund investment will also change accordingly, thus generating risks.
3. Interest rate risk. The fluctuation of interest rate in financial market will lead to the change of price and yield in securities market. Interest rate directly affects the price and yield of bonds and the financing cost and profit of enterprises. The fund invests in bonds and stocks, and its income level may be affected by changes in interest rates.
4. Operating risks of listed companies. The operating conditions of listed companies are influenced by many factors, such as management ability, industry competition, market prospect, technology update, new product research and development, etc. All these will lead to changes in the company's profits. If the listed company invested by the fund is not well managed, its share price may fall, or the profit available for distribution may decrease, thus reducing the investment income of the fund. Although the fund can disperse this unsystematic risk through investment, it cannot be completely avoided.
5. Purchasing power risk. The income of fund holders will be mainly distributed in the form of cash, and the purchasing power of cash may be reduced due to inflation, thus reducing the actual income of the fund. The Fund is affected by other force majeure (such as war, natural disasters, etc.), which may lead to the loss of fund assets and affect the income level of the fund, thus bringing risks.