You are talking about the umbrella fund. Umbrella fund, also known as umbrella sub-fund or umbrella sub-structure fund, is an organizational form of fund. According to a general fund prospectus, fund sponsors set up several funds that can only be converted according to the prescribed procedures and rates, that is, several sub-funds are set up under a parent fund, and each sub-fund makes independent investment decisions according to different investment policies and objectives.

Moreover, all fund companies have a general investment and research team to provide information and research help for all funds under this fund company, but each independent fund will also have its own investment simulation and investment objectives, and can make investment decisions independently.