1, Sunshine Private Equity Fund refers to the securities investment trust collective wealth management products issued and established by the investment consulting company as the initiator, the investor as the client, the trust company as the trustee, the bank as the fund custodian and the securities company as the securities custodian according to the provisions of the Trust Law and the Measures for the Administration of Trust Plans of Trust Companies.

2. Trust private equity funds generally exist in two forms: "structural" and "open".

Sunshine private equity funds generally only refer to private equity funds issued in an "open" way. The so-called openness means that fund subscribers need to bear all investment risks and enjoy most of the investment income, while private equity companies do not promise the income. The profit model of private fund management companies is generally about 2% of the total fund management fee, and 20% of the investment profit is used as commission income, which is also commonly known as the "2-20" charging model (2% management fee +20% profit commission). This 2-20 charging model is a popular charging model for private equity funds in the world.

"Structured" Sunshine Private Equity Fund refers to the structural division of beneficiaries into different categories, such as priority beneficiaries and general beneficiaries, special beneficiaries and general beneficiaries, and the distribution of benefits on this basis. This model is a typical Shanghai model.