Safe. Funds are issued by fund companies, and securities companies are platforms, which are equivalent to markets. What they are selling is the fund of this fund company, which is just a platform. Open-end funds, operated by fund managers and kept by fund custodians, are specialized in investing in money market instruments, with low risk, which is different from other types of open-end funds and has high security, high liquidity and stability. From the early 1970s to the 1980s, the United States was in a "stagflation" environment of economic recession and high inflation. At that time, the Federal Reserve controlled the interest rate of bank deposits, the interest rate of residents' deposits was lower than the inflation rate, and deposits were always in a state of depreciation. In order to attract funds, banks have introduced certificates of deposit with interest rates higher than the inflation rate. However, the initial deposit amount of this time deposit certificate is relatively large, and the minimum investment unit is often one hundred thousand or one million dollars. Only a few institutional investors have enough cash to make such investments.