Securities investment fund is an independent fund property raised by selling fund shares, which is managed by the fund manager and managed by the fund custodian. Securities investment is conducted in the form of portfolio, and fund share holders enjoy benefits and bear risks according to their shares.

Securities investment funds can be classified according to different standards. According to whether the fund unit can be increased or redeemed, it can be divided into open-end funds and closed-end funds; According to the different organizational forms, it can be divided into corporate funds and contractual funds, and China's securities investment funds are all contractual funds; According to the difference of investment risk and income, it can be divided into growth fund, income fund and balanced fund; According to the different investment objects, it can be divided into four categories: money fund, bond fund, hybrid fund and stock fund.