fund management companies are fund managers: fund managers are fund product raisers and fund managers, and their main responsibilities are to be responsible for the investment operation of fund assets according to the fund contract, and strive for the maximum investment income for fund investors on the basis of risk control. Fund managers play a central role in fund operation. Most important functions such as the design of fund products, the sales and registration of fund shares, and the management of fund assets must be undertaken by the fund manager or other service organizations selected by the fund manager. In China, fund managers can only be held by legally established fund management companies.

fund custodian: In order to ensure the safety of fund assets, the Securities Investment Fund Law stipulates that fund assets must be kept by fund custodians independent of fund managers, thus making the fund custodian one of the parties to the fund. The responsibilities of the fund custodian are mainly reflected in fund asset custody, fund capital settlement, accounting review and supervision of fund investment operation. In China, the fund custodian can only be a commercial bank established according to law and qualified for fund custody.