Fund projects, also known as mutual funds or mutual funds, are institutions that raise funds through public offering of fund shares and then invest in securities. Investment funds are managed by fund managers and fund custodians, and conduct securities investment activities in the form of portfolio to serve the interests of fund share holders.

Investment funds can operate as closed-end funds or open-end funds: 1. Closed-end investment funds are fixed according to the total amount of approved fund shares during the fund contract period, and fund shares can be traded in legally established securities exchange places, but fund share holders are not allowed to apply for redemption. 2. Open-end investment funds refer to funds whose total fund shares are not fixed and can be purchased or redeemed at the time and place agreed in the fund contract.