Umbrella fund refers to the fund operation mode of setting up several sub-funds under a parent fund, and each sub-fund makes independent investment decisions. Its main feature is that it can provide investors with a variety of choices within the fund, and investors can switch fund types according to their own needs.

Fof is a fund in the fund and invests in other funds. The biggest difference between FOF and open-end fund is that the fund in the fund takes the fund as the investment target, while the fund takes the securities such as stocks and bonds as the investment target. It screens funds through professional institutions to help investors optimize the investment effect of funds.