1. The fund manager is an organization that helps you invest, and you need to be qualified in Public Offering of Fund. Such institutions mainly include fund companies (126), securities companies and their asset management subsidiaries (13) and insurance asset management institutions (2). The party responsible for production and investment strategy. At the same time, fund raising, issuance and liquidation are also the responsibilities of fund managers. Mainly to collect management fees, as well as the customer's part of the redemption transaction costs.

2. Fund custodian, mainly responsible for the custody of funds, accepting instructions from the manager, and being specifically responsible for the operation of funds. Such institutions may not pay much attention to it, but they also charge hosting fees every year. Most institutions with custody qualifications are banks (28) and securities companies (17).

3. The fund sales organization is an organization that holds the license of Fund Sales issued by the CSRC, and it is our common platform for buying and selling funds. This includes more than 420 banks, securities companies, futures companies, securities consulting companies, insurance companies and independent sales organizations, including 124 independent sales organizations. We often say that Tian Tian, Ant, An Teng and Egg Roll are independent institutions.

4. Fund investors generally buy funds on the fund sales platform, and the money will go to the custodian. At the same time, some investment strategy instructions of the fund manager, such as stock trading and bond trading, will also be sent to the custodian. In other words, it is the custodian who has direct contact with money, while the fund manager does not have direct contact with money, which is also one of Public Offering of Fund's advantages.