Yes, the fund industry association made it clear in the Answer to the Registration and Filing of Private Investment Funds (VII) that in addition to fund management, the description of the business scope of private managers can also use words such as investment management, asset management, equity investment, venture capital and so on, which reflect the management characteristics and types of private funds. Private equity investment funds are managed by private equity investment funds. According to the description of business type/fund type and product type of private equity investment fund provided by fund industry association, private equity investment fund is defined as: private equity fund, which mainly invests in publicly traded stocks, bonds, futures, options, fund shares and other securities and their derivatives as stipulated by China Securities Regulatory Commission. Source Xin Fengkou financial knowledge