fund holders, fund managers and fund custodians are the most important three parties to the fund.

fund holders are fund investors, the funders, the owners of fund assets and the beneficiaries of fund investment income.

the fund manager is the fundraiser of fund products and the manager of the fund, whose main duty is to be responsible for the investment operation of fund assets according to the agreement of the fund contract, and strive for the maximum investment income for investors on the basis of risk control. In China, fund managers can only be held by legally established fund management companies.

the fund custodian is independent of the fund manager, and is responsible for the custody, liquidation, accounting review and supervision of the investment operation of the fund. In China, the fund custodian can only be a commercial bank established according to law and qualified for fund custody.