according to the definition of "interim measures for the management of securities investment funds", securities investment funds are a kind of collective securities investment mode with * * * benefits and * * * risks, that is, investors' funds are concentrated by issuing fund units, managed by fund custodians, and managed and used by fund managers to invest in financial instruments such as stocks and bonds. Securities investment fund has the characteristics of collective investment, professional management, portfolio investment, risk diversification, benefit sharing and risk bearing, and has the comparative advantages of safety and liquidity, so it is a popular and modern trust investment tool.