In fact, the difference between the two is that fund investors are more general, including the investment of various funds, while fund share holders refer to investors of contract funds in the form of purchasing equal funds. However, in corporate funds, similar to ordinary joint-stock companies, they raise funds by issuing stocks, and then entrust the funds to fund management companies for management. Corporate funds are not suitable to be called fund share holders, they hold stocks. Note: There are only contract funds in China, and corporate funds are the business of evil capitalist countries, so China will confuse the two concepts. Non-professional answer, I hope it's not too disturbing.