Umbrella fund, also known as umbrella sub-fund or umbrella sub-structure fund, is an organizational form of fund. Under this organizational structure, according to a general fund prospectus, fund sponsors set up a number of funds that can only be converted according to the prescribed procedures and rates. These funds are called "sub-funds" or "component funds"; The fund system composed of these sub-funds is called "umbrella fund".

The first umbrella fund in China-TEDA Manulife Value Optimization Series Fund (TEDA Manulife Growth, TEDA Manulife Cycle, TEDA Manulife Stability) was formally established on April 25th, 2003. It is worth mentioning that TEDA Manulife Umbrella Fund raised 2.63 billion yuan for the first time, and the total number of subscribers reached 65.438+0.775 million, setting a record for the number of subscribers of domestic open-end funds at that time.