FOF originated in the United States in 197s, and its initial form was to invest in a series of private equity funds. Because of the high investment threshold of private equity funds, most investors can't reach it, so some institutions issued PE FOF to lower the investment threshold.

Since p>2, the FOF of * * * mutual fund has entered a stage of explosive growth. Since 2, the number of FOF funds has increased by 627%, and the management scale has expanded by an astonishing 314%. After germination before 199 and a series of policy support and market preparation in the 199s, the soil of FOF with the same fund really matured and ushered in an explosive growth.