According to the different ways of raising funds, securities and futures asset management plans can be divided into public offering and private offering. Public offering of large-scale and unlimited fund sales to unspecified investors is called "public offering". The entry threshold is relatively low and it is required to meet the standards of qualified investors. The form of "private financing" or "issuance by unlisted companies" refers to the establishment of a specific institution or natural person whose advanced financial and experience conditions meet certain requirements.