There are mainly the operation and operating expenses of the fund. Fund operating expenses refer to the expenses paid in the actual operation of fund assets, including annual listing fees, securities trading fees, information disclosure fees, holders' meeting fees, CPA fees, audit fees, attorney fees, etc. As the operating cost of the fund, these expenses account for a small proportion of the fund's net assets, and are usually determined in advance in the prospectus of the investment fund and paid according to relevant regulations. Operating cost is one of the bases for investors to measure the operating efficiency and performance of funds. Fund operating expenses refer to the expenses incurred during the fund operation, mainly including management fees, custody fees and other expenses, which are directly deducted from the fund assets.