Large securities companies have wealth management products, which are different from ordinary funds. Because the general fund securities law stipulates the minimum position ratio, funds can't clear their positions even when the market is bad. For example, stock funds stipulate the proportion of stock assets to your total assets, but wealth management products are relatively flexible. If the market is not good, wealth management products can sell all the stocks and then hold cash (of course, this is only an example, generally not so extreme), but the participation threshold of wealth management products is very high, and generally it takes hundreds of thousands to participate for the first time. Of course, different products have different regulations. I've only been in contact with Wealth Management No.3 of GF Securities, and it's my first time to participate in100000.