Legal analysis: A fund refers to a certain amount of funds set up for a certain purpose. It mainly includes trust and investment funds, provident funds, insurance funds, retirement funds and funds of various foundations.

legal basis: Law of the People's Republic of China on Securities Investment Funds Article 2 This Law is applicable to the establishment of securities investment funds within the territory of the People's Republic of China by publicly or privately raising funds, which shall be managed by the fund manager and entrusted by the fund custodian, and conducted for the benefit of fund share holders.