MOM(Manager Of Managers) means that the fund manager of a fund does not directly manage the fund investment, but entrusts the fund assets to other fund managers for management and directly grants them the investment decision-making power. MOM's own fund manager is only responsible for selecting, tracking and supervising the performance of the entrusted fund manager and replacing it when necessary.

Extended data:

MOM fund managers are only responsible for selecting excellent entrusted fund managers, tracking and supervising the performance of these entrusted fund managers, and replacing them when necessary. MOM Fund and the trustee fund manager sign corresponding entrustment contracts to realize this principal-agent relationship.

For ordinary investors, because many well-known fund managers around the world only do institutional business, not retail business, only by investing in such funds can retail investors enjoy the services provided by star fund managers that are generally unavailable.

At the same time, MOM can enjoy the lower rates offered by star fund managers to institutional investors, but its popularity in the world is far less than that of FOF. Because of its high qualification requirements for issuers, only some powerful investment companies have issued such products.

References:

Mom (Manager Fund)-Baidu Encyclopedia