Securities investment fund refers to an investment tool that forms an independent fund property by selling the funds raised by fund shares, which is managed by the fund manager and the fund custodian, and makes securities investment in the form of portfolio, and the fund share holders enjoy the benefits and bear the risks according to their shares.

The characteristics of securities investment funds mainly include the following aspects:

1, collective financial management, professional management. The fund collects the funds of many investors and entrusts the fund managers to invest together, showing a feature of collective financial management. By pooling the funds of many investors, many a mickle makes a mickle, which is conducive to giving full play to the scale advantage of the fund and reducing the investment cost.

2. Securities investment and risk diversification. In order to reduce investment risk, the laws of some countries usually stipulate that funds must invest in the form of portfolio investment, thus making "portfolio investment and risk diversification" a major feature of funds. Due to the small amount of funds, small and medium-sized investors generally cannot diversify their investment risks by buying different stocks.

3. Enjoy the benefits and take risks. Securities investment funds implement the principle of "sharing interests and risks". Fund investors are the owners of funds.

4. Strict supervision and transparent information. In order to effectively protect investors' interests and enhance investors' confidence in fund investment, fund regulators all over the world have imposed strict supervision on the fund industry.

5. Independent supervision and safety. The fund manager is responsible for the investment operation of the fund and does not handle the custody of the fund property.