The characteristic of contractual fund is that unit trust is a management company established by a document named trust deed. Structurally, it has no board of directors. The fund manager company sets up the fund itself as the entrusting company, and employs the manager to manage the operation and operation of the fund by himself or again. Usually, the designated securities company or underwriting company handles the issuance, transaction, transfer, transaction, profit distribution, income and principal and interest repayment and payment on its behalf. The trustee accepts the entrustment of the fund manager company to register and open an account for the fund in the name of the trustee or trust company. The fund account is completely independent of the account of the fund custody company. Even if the fund custody company goes bankrupt due to poor management, its creditors cannot use the assets of the fund. Its duty is to be responsible? Manage, keep and dispose of the trust property, supervise the investment work of the fund manager, ensure that the fund manager complies with the investment regulations listed in the prospectus, and make its investment portfolio meet the requirements of trust deed. When the unit trust fund has problems, the trustee shall be liable for compensation to the investors. Contractual funds, also known as unit trust funds, refer to fund management companies jointly established by specialized investment institutions (banks and enterprises). As trustees, the fund management companies issue income certificates in the form of "trust deed" and are entrusted to raise idle funds in society. Contractual funds are established by fund contracts signed between fund investors, fund managers and fund custodians. The rights of fund investors are mainly embodied in the terms of fund contracts, and the main aspects of fund contract terms are usually regulated by fund law.