1. Liquidity risk: Generally speaking, investment instruments are faced with liquidity risk, that is, when investors need to realize cash, they are faced with the risk that it is difficult to realize cash at an appropriate price.
2. Institutional management risk: The invested funds are managed and operated by fund management institutions and fund managers, and there are certain risks in the operation.
3. Securities market risk: Policy changes will cause price fluctuations in the securities market, thus affecting the fund's income and price.