A publicly issued fund may invest in preferred shares. According to China's "Measures for the Administration of Public Offering Funds", public offering funds should specify the investment object, investment scope and proportional limit in the fund contract, and make investments in strict accordance with the investment scope and proportional limit. Specifically, Public Offering of Fund's investment scope includes stocks, bonds, funds and futures, including convertible bonds and preferred stocks. Therefore, Public Offering of Fund can vote for preferred shares. There are certain risks in Public Offering of Fund's investment in preferred shares. Although preferred stock has the characteristics of fixed dividend, high dividend yield and priority payment, compared with common stock, its liquidity and market transaction volume are small, and it is easily affected by interest rate changes, economic environment and other factors, and there are certain market risks.