Asset management business refers to the behavior of securities companies, as asset managers, operating customer assets in accordance with the methods, conditions, requirements and restrictions stipulated in the asset management contract, and providing customers with investment management services in securities and other financial products. Private placement refers to raising funds privately or directly from specific groups for stock trading. Therefore, the two are not the same concept. Generally, ordinary investors can purchase the asset management of securities companies, but the amounts are slightly different. 5W, 20W, and 100W are more common.