The fund usually includes:

1. Fund investors are holders of fund shares or beneficiary certificates, so investors are beneficiaries, principals and holders. Fund holders can be natural persons or legal persons. The rights of fund holders include: the right to repay the principal, the right to distribute the income, the right to distribute the remaining property and the right to vote in the holders' meeting;

2. Fund manager: Fund manager refers to the institution responsible for the management and operation of fund assets. According to the provisions of the People's Republic of China (PRC) Securities Investment Fund Law, the manager of the securities investment fund is a fund management company;

3. Fund custodian: Fund custodian refers to the institution that supervises the fund manager and keeps the fund assets according to the principle of "separation of management and maintenance". In China, it is usually held by a commercial bank with custody qualification;

The relationship between the parties to the fund

1. Relationship between shareholders and managers.

Fund holders are ordinary social investors, which can be natural persons, legal persons or other social groups; Fund managers are specialized operators composed of professional investment experts and are legal persons established according to law.

2. The relationship between the manager and the custodian.

The relationship between the administrator and the trustee is the relationship between management and supervision. Fund managers are composed of investment experts, who are responsible for the management of fund assets, and they never actually touch and own fund assets; The custodian shall be a financial institution recognized by the competent authority, be responsible for the custody of the fund assets, dispose of the fund assets according to the instructions of the fund management institution, and supervise whether the investment operation of the manager complies with laws and regulations.

3. The relationship between the holder and the custodian.

The relationship between the holder and the custodian is entrusted and entrusted, that is, the fund holder entrusts the fund assets to the fund custodian for management.