the securities investment fund is a kind of collective securities investment with * * * benefits and * * * risks.

The trust industry is more wary of the fund company's subsidiaries because the fund company's business enclosure will start with price war and regulatory arbitrage.

"channel" business monopolized by trust companies. It means that the trust company does not actively and systematically carry out project development, product design, transaction structure arrangement and risk control measures, and the rate of return is low, but it plays a great role in improving the management scale.