According to the provisions of my country's "Interim Measures for the Administration of Securities Investment Funds", securities investment funds refer to a collective securities investment method with maximum sharing of benefits and maximum risks, that is, through the issuance of fund units, The funds of concentrated investors are custodian by the fund custodian (usually a large bank), and the funds are managed and used by the fund manager (i.e., the fund management company) to engage in investment in financial instruments such as stocks and bonds. From an overseas perspective, various countries have different names for securities investment funds, and the forms are also different, but the essence is the same. They all pool the funds of many dispersed investors and hand them over to experts for investment management, and then according to the A share of the investment distributes the income.