Mature. According to the industry life cycle theory, the development of an industry includes four stages: initial stage, growth stage, maturity stage and decline stage. Fund engineering industry refers to the relevant institutions and personnel engaged in fund raising, custody and management. At present, the scale of the fund industry is growing steadily, its outstanding performance is recognized by the capital market, its institutions are becoming more and more mature, and its risk management is increasingly strengthened. Therefore, the fund engineering industry is in the mature stage of its life cycle.