Securities Investment Trust(hereinafter SIT) as an indirect investment instrument used by investors has gained great development in both developed and developing countries with the development of finance all over the world. The SIT in China also has gained great development when the government of China decided to develop the Institutional Investor and enacted the law of China Securities Investment Fund in 28th October 2003.The most important thing in the development of SIT, even in the development of securities market is to protect the benefits ofinvestors by the law. The failure in the protection of investors' benefits will despair investors in the investment of securities and the development of securities market will not succeed. Therefore, the protection of investors generally become the main contents and the aim of any country's law about the SIT.In the law of China Securities Investment Fund we can find that the rules about the protection of investors has increased greatly than before. Although the structure of SIT in China both the asset management company and the custodian are all fiduciaries, the asset management company in charge of the investment of the asset and the custodian safeguards the asset and supervises the behaviors of the asset management company. This structure is considered to use the joint fiduciaries in the Trust Law of China creatively. Especially, the custodian plays an important role in the protection of investors through supervising the asset management company. In order to protect the safety of the trust assets there are lots of rules about keeping the independence of the assets in the law of China Securities Investment Fund. In this way there will have a fire wall between trust assets and the asset management company or the custodian's assets. Although the profits of investors lie on the ability of the asset management company, the asset management company will impair the benefits of investors if the company does the investment selfishly or unjustly or in great danger and so on. So the asset management company must has the duty of care and the duty of loyalty. Custodian doesn't manage the asset, but custodian might use the asset selfishly. So in the law of China Securities Investment Fund the custodian also has the duty of care and the duty of loyalty.In the law of China Securities Investment Fund there are lots of strict conditions about the establishment of the asset management company to make the asset management company has a good ability to serve the investors. Especially, there is a compliance officer in the structure of the asset management company which is not in the company law of China. The compliance officer supervises the behaviors of the asset management company to confirm whether the asset management company has conformed the law of SIT. If the asset management company breaks the law the compliance officer will take some measures to make the asset management company conform the law. In order to let investors have a chance to decide the important things in the management of trust assets and express their own minds, there is a Investors Meeting can be hold according to the Law of China Securities Investment Fund. The Investors Meeting is similar to the General Meeting in the company law of China.Although there are a lot of rules about the protection of investors in the law of China Securities Investment Fund, because the difficulty in achieving the ideal legal effect, there are also many deficiencies in executing the law. For instance, the problems in Independent Director, the problems in affiliated business, the problems in the custodian and so on. Beside this, I think the law of China Securities Investment Fund should absorbs the excellent rules and laws about the protection of investors that has been used in the law of SIT in Korea. For example, the Suitability Rule, the class lawsuit rules about securities and the law of investment company.In order to promote the study on the protection of investors in SIT and the communion of law between Korea and China I will keep on studying on this area in future.