Participants in securities investment funds are divided into three categories. It is a fund party, including investors who hold shares in securities investment funds (share holders), companies responsible for managing securities investment portfolios and making trading decisions (fund managers), and custodian banks or custodian companies responsible for the custody and settlement of related businesses (custodians). It is a market service organization, sales agent, consultant, etc. Provide related services and support necessary functions during operation. It is a functional department to supervise securities investment activities, standardize the code of conduct and protect public interests. It is a regulatory agency established or authorized by the government and a self-regulatory organization.