In the investment structure of Tian Hong Fund, investment bank deposits account for 92%, investment bonds account for 7%, and other investments account for 1%. Among them, the structure of Tian Hong fund investment bank deposits is mainly time deposits, and the proportion of time deposits of 1 month, 1-3 months and more than 3 months is 29%, 48% and 23% respectively. Demand deposits only account for 0.05%.

Analysis on the Profit Model of Tian Hong Fund;

1. Tian Hong Fund accumulates a small sum of money into a super-large sum of money through the Internet, and then obtains a higher deposit yield through agreement deposit, and then returns it to users. Tian Hong Fund plays an intermediary role between banks and depositors and benefits from it.

Second, the income of Tian Hong's fund business is mainly realized by "parasitism", which does not have the strength and foundation for value growth. According to statistics from relevant departments, Yu 'ebao cooperates with fund companies, and on average, 90% of its assets are invested in bank deposits or insurance financing. Risk-free premium and excess profit target (mainly commercial banks) are its main characteristics.