Investment sponsors are mainly affiliated to the asset management department of securities firms, and mainly undertake asset management projects, such as project transaction structure design, optimal adjustment, initiation, filing, contract signing and capital contribution of asset management plans. Fund managers are mainly engaged in the secondary investment in the capital market, including screening the pool of securities, investing in securities according to different strategies, and tracking the industry and company fundamentals of investment targets.

There are 106 securities companies that are generally compliant in China, of which 20 entered the ranks of AA-level securities companies in 20 14. The 20 brokers who obtained AA-level securities include: Jinggaohua, Huaxi Securities, Industrial Securities, CDB Securities, Galaxy Securities, Guotai Junan, China Merchants Securities, Guo Xin Securities, CIC, Haitong Securities and CIC Securities.

Many of these companies are on the AA rating list for the first time. It is worth noting that no brokerage firm was rated as the highest AAA, and no brokerage firm was rated as a D or E company.

It is reported that securities companies are divided into five categories: A(AAA, AA, A), B(BBB, BB, B), C(CCC, CC, C), D and E, and the level is 1 1. Companies at all levels in categories A, B and C are normal operating companies, and the division of their categories and levels only reflects the relative level of their risk management capabilities in the industry.