Securities investment funds have the following characteristics: ① Securities investment funds are funds operated, managed and specially invested in the securities market by experts. (2) Securities investment fund is an indirect way of securities investment. Investors indirectly invest in the securities market by purchasing funds. Compared with buying stocks directly, investors have no direct relationship with listed companies, do not participate in the company's decision-making and management, and only enjoy the right to distribute the company's profits. (3) Securities investment funds have the advantages of small investment and low cost. ④ Securities investment funds have the advantages of portfolio investment and risk diversification. ⑤ Strong liquidity.