Hello, according to the different ways of raising funds, funds can be divided into Public Offering of Fund and non-Public Offering of Fund. Public offering funds refer to securities investment funds that raise funds from public investors in an open way and invest in securities. Under the strict supervision of laws and regulations, Public Offering of Fund has strict industry norms in investment scope, investment strategy, information disclosure, profit distribution and operation management. Unless otherwise specified, the "funds" mentioned in this series of articles refer to publicly issued funds.