Banks generally do not issue funds, but help fund issuers to sell funds on a commission basis.

A fund is a collective investment plan. Many people don't know how to invest in stocks, bonds, warrants, futures, options and some securities derivatives, but they have money and want to invest. Others have no money, but their investment expertise is excellent. So rich investors give money to financial experts who have no money, and let financial experts help them invest to realize asset appreciation.

This fund-raising is the fund.

In a word, a fund is a sum of money that several investors concentrate on professional investors and then invest professionally.