I. Fund trust can be divided into single fund trust and collective fund trust according to the number of customers. The so-called single fund trust is a trust product relative to the collective fund trust. It refers to a trust in which a single principal delivers his legally disposable funds to the trustee, and the trustee manages, uses and disposes of the trust property in an agreed way.
Second, compared with the collective fund trust, the core difference lies in the position of the client except the difference in the number of customers in appearance. Compared with the collective fund trust which belongs to active management, in the single fund trust, the principal is often the dominant party in the direction of fund utilization and investment, and the fund utilization is relatively single, so the trust company can play a lower role in self-management and has a weaker control over the project. Compared with pooled fund trusts, single fund trusts are mainly institutional clients, usually institutional investors and high-end individuals. In addition, unlike the collective fund trust, the single fund trust has a large pricing space and the yield fluctuates greatly. Due to the single number of customers, the corresponding sources of funds are relatively single in principle. In addition, in a single fund trust, the trustee receives a lower commission than a collective fund trust. In addition, the information of a single fund trust does not need to be made public because it has privacy advantages. Based on the above characteristics, single fund trust is often a typical business of channel business.
Third, according to whether it is designated or not, a single fund trust can be divided into designated management fund trust and entrusted use fund trust. The so-called designated management fund trust refers to the trust that manages, uses and disposes of the trust property according to the investment method, investment object and management method agreed by the client in the contract when the trustee accepts the funds of a single client to set up the trust. The core feature of designated management fund trust is that the entrusting party designates the use of funds by itself, is responsible for the basic situation and repayment ability of fund users, and judges the project risk by itself. The trustee usually only undertakes the channel responsibility, mainly undertakes the execution responsibility of general trust affairs, and does not undertake the active management responsibility. In this mode, trust companies, as trustees, usually do not pay attention to the control of legal risks and transaction structure, which is prone to unclear rights and responsibilities. The so-called trustee's use of funds for trust refers to the fund trust business in which the trustee manages, uses and disposes of the trust property according to the management method determined by the trustee when accepting the funds of a single principal to set up a trust. As the trustee, the trust company has a more active position in the non-designated management fund trust and has greater discretion than the designated management fund trust. According to the specific use of funds, single fund trusts can be divided into single trusts with different purposes. In practical business, a single trust used for loans is more common than a trust used for investment.