The similarities between the two are linked by trust. The difference is that trusts are managed according to customers' wishes, and securities investment funds are managed by fund managers on their own initiative, not according to customers' wishes.

Trust is an act that the principal entrusts his property rights to the trustee based on his trust in the trustee, and the trustee manages and disposes in his own name according to the wishes of the principal, for the benefit of the beneficiary or for a specific purpose.

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.