British overseas and colonial government trusts. According to the search of Securities Star, after the British industrial revolution, the government needed a lot of money for construction. In 1868, it established the first investment fund "Overseas Colonial Government Trust Fund", which is recognized as the earliest investment fund in the world. This fund established the operating norms of investors, professionals responsible for management and operation, signing contract documents, and published the prospectus in the British Times, so it is recognized that the earliest investment fund was established in Britain.