1, different subjects: Public Offering of Fund in the United States is an open investment company (OEIC) established according to the 1940 Act. Each fund is a company with a special board of directors and fund companies (such as Fidelity and Pioneer). ) is an investment management consultant hired by the fund; China's public offering fund is a trust system, which is essentially a collective investment trust system in which fund companies issue funds to investors to facilitate investors to diversify their investments and bear corresponding risks.

2. Different starting points: Since MFS (a fund company) issued its first fund in 1930s, Public Offering of Fund has existed for nearly 90 years, resulting in a number of giant fund companies with management scale exceeding one trillion; China Fund Company started late, and the first Public Offering of Fund "Huaan Innovation" was issued by Huaan Fund in 200 1 year.

3. Blocked channels: The main funds in the US market are sold to families and ordinary individuals through independent financial advisors, while the domestic market still mainly relies on banking channels. (In fact, Singapore, Hong Kong and other major Asian countries/regions are all).

4. Different impacts: More than 40% households in the United States hold funds, and most of them buy and hold them for a long time. On the other hand, I can only hehe at home. The high turnover rate of China funds, the young and high turnover rate of fund managers, the lack of incentive mechanism at the fund company level and the contradiction between shareholders and management. As a result, few investors are willing to hold funds for a long time.