UmbrellaFunds is an organizational structure of open-end funds, which means that a fund management company takes a group of funds under its name as "parent funds" and then forms a number of "sub-funds" under the "parent funds" to facilitate and attract investors to choose and convert freely.

Its biggest feature is that it is beneficial for investors to switch funds, and it does not charge or charge less switching fees, thus stabilizing the investment team. The disadvantage is that fund conversion is almost entirely decided by investors, and fund management companies have no right to interfere. Investors may frequently switch funds, which will affect investment operation.

Because generally speaking, investors need to pay for different funds. If it is an umbrella fund, buying different "sub-funds" under the "parent fund" can save related expenses.