Firstly, based on the judgment that the A-share market in 2008 will be a volatile one, investing in closed-end funds is a better choice. Closed-end funds have the advantage of being more resistant to falls compared to equity funds. The stock position of closed-end funds must be kept below 80%, which makes them perform better against falling markets. As of April 11th, since the beginning of this year, the Shanghai Composite Index has cumulatively fallen by -34.21%, the average fall of 189 open-end funds has been -22.32%, while the average fall of closed-end funds has been -20.35%.