Fund governance structure is an organic relationship structure produced by fund managers, fund custodians, fund holders and other stakeholders. According to the different fund organization systems, the fund governance structure can be divided into corporate fund governance structure and contractual fund governance structure. The corporate fund's governance structure takes the principal-agent relationship as the relationship between fund shareholders and the board of directors, fund managers and fund custodians, while the contractual fund's governance structure takes the trust relationship as the relationship between fund holders, fund managers and fund custodians.

Among them, the governance structure of corporate funds and contractual funds needs to allocate the residual control rights and residual claims of funds to meet the needs of maximizing the utility of fund managers and the interests of fund investors.