The development of investment funds in developing countries first stems from the sustained economic development of these countries and the transformation of corporate financing methods. With the strengthening of economic strength, their stock market has also developed rapidly, with hot stock market transactions and high total yield. Since the development of the stock market is the basis for the growth of investment funds in developing countries, the investment fund industry has also developed while the stock market is booming. India is the first developing country to introduce investment funds. In the Philippines, a large number of funds emerged in the early 1990s, including First Philippines Fund, Manila Fund, Philippines Fund, Suotong Philippines Renaissance Fund and so on.