The characteristics of securities investment funds include: ① Collective financial management and professional management. The fund collects the funds of many investors and entrusts the fund managers to invest together, showing a feature of collective financial management. By pooling the funds of many investors, many a mickle makes a mickle, which is conducive to giving full play to the scale advantage of funds and reducing investment costs (option A is correct and does not meet the meaning of the question). The fund is managed and operated by the fund manager. Fund managers generally have a large number of professional investment and research personnel and a strong information network, which can better track and analyze the securities market comprehensively. Give the funds to the fund manager for management, so that small and medium-sized investors can also enjoy professional investment management services (option D is correct and does not meet the meaning of the question). ② Portfolio investment and risk diversification; ③ Benefit sharing and risk taking. ④ Strict supervision and transparent information. ⑤ Independent storage and safety. The fund manager is responsible for the investment operation of the fund and does not participate in the custody of the fund property itself. The custody of the fund property is the responsibility of the fund custodian independent of the fund manager (option B is correct and does not meet the meaning of the question). Option c does not belong to the characteristics of securities investment funds.