PB(prime brokerage), the main brokerage business, is also called as the main brokerage business or bulk brokerage business by some brokers. It means that large securities brokers (mainly large securities companies in China at present) provide all-round service support for professional institutional investors and high-net-worth individual investors (mainly hedge funds at present) and charge related fees.
Matters needing attention of brokers in private placement
Private equity funds are not mandatory for custody, and the duties of custodians and managers are not exactly the same. Custody of funds does not mean that funds have entered the "safe". Investors should not be superstitious about "custody", and beware of managers using "XX bank/brokerage custody" as a publicity stunt to improperly increase trust.
Remember to buy through illegal channels and be wary of illegal fund-raising under the cloak of "financial innovation". Private fund managers and their products shall be registered with the fund industry association. Investors are advised to check with the fund industry association in official website before purchasing private equity products. When buying private products, you should read the relevant product introductions carefully to know whose products you are buying, who you signed a contract with, where the funds are allocated, and where the specific investment is. Don't be deceived by the so-called high income, remember that "you are interested in other people's income, but others are thinking about your principal". If you find any abnormality, you should consult the fund industry association or the regulatory department in time.