MoM (Manager of Mangers) mode, that is, the trading mode of everyone, is also called selective multi-manager. By selecting the best from the best, fund managers or asset managers are selected, so that these top professionals can manage assets, and through their dynamic tracking, supervision and management, the asset allocation scheme can be adjusted in time, thus obtaining benefits. In short, my mother is to find the best investors to form a team, allocate funds and put them into the market, which not only exerts team strength, but also does not limit personal style. MoM model is a relatively new asset management strategy, which began in the 1980s. Russell in the United States is the founder of MoM. Most people will confuse the mother fund with the FOF fund. 1. The product models are similar but different. Although MOM and FOF are multi-manager funds, MOM entrusts fund assets to other fund managers for management. FOF takes the selected fund portfolio as the investment object, that is, MOM is the manager's fund, FOF is the fund in the fund, and FOF is the prototype of MOM model. 2. The combination of the two is different. Mom combines high-quality fund managers, and FOF combines high-quality fund products. Specifically, MOM selects high-quality fund managers from the market to manage MOM funds, while FOF screens high-quality funds in the fund market. 3. The management fees are different. FOF's investment in fund products in the existing market is prone to double charges, that is, the underlying fund charges once and FOF charges again; Jiafeng Reid pointed out that in MOM mode, the variable double fee is a single fee. MOM operates through special account and virtual sub-account, which has low relative rate and good liquidity. It is also beneficial for investors that the two types of fund managers in MOM share management fees and performance commissions. These two management modes are different. FOF does not directly invest in stocks or bonds, and its investment scope is limited to other funds in the market. FOF has no new products, but invests directly in the target market. MOM can invest in the securities market by choosing the top private fund managers in the market, such as MOM's securities investment plan, investing in the securities market, or investing in other funds in the market, and through the innovative asset management model MOM, choosing the top private fund managers in the market and investing in the securities market. 5. Their investment strategies are different. In terms of investment strategy, FOF puts asset allocation in an important position. The investment strategy of FOF at the whole product level is formulated by the product manager, but the strategy specific to each fund is formulated by the fund manager himself. MOM, on the other hand, gives the employed fund managers more power and puts the fund manager configuration in a prominent position. Jiafeng Reid believes that managers in MOM mode have stronger influence and control over investment strategy and risk control, because MM product managers are responsible for formulating the overall investment strategy and risk control of products, and the selected high-quality fund managers are responsible for specific operations and implementation, which plays an auxiliary role. 6. Different responsibilities of fund managers. The FOF fund manager is responsible for the allocation decision of large-scale assets and the allocation ratio of various asset funds; Select and purchase sub-funds that invest in various assets. Under MOM mode, its fund managers are responsible for the allocation of large-scale assets and the selection and distribution of fund assets to other employed fund managers, and at the same time, they supervise the subsequent performance of employed fund managers and make timely adjustments. In a word, FOF and Mom are both portfolio investment products.