This problem cannot be generalized, because different types of fund institutions have different levels of supervision. For example, Public Offering of Fund usually has a large scale, a wide range of investors and strict risk control. They are absolutely not allowed to buy high-risk ST shares.

But for private equity funds, they are generally oriented to specific investment groups, and these people have high risk tolerance, so private equity funds can appropriately invest in some products with higher risks and higher returns, such as st stocks. Even so, the position of ST shares is very strict, and a single ST share generally cannot exceed 5% of the position.