However, due to the lag of system construction, China's regulated commodity futures funds are still absent. This makes the price discovery mechanism of domestic commodity futures market flawed, and also limits the pricing influence of China commodity futures market. The promotion of classified supervision of futures companies makes the emergence of futures funds have more sufficient conditions. However, the development of the futures fund business needs to revise the current Regulations on the Administration of Futures Trading and the Measures for the Administration of Futures Companies, or introduce special regulations to supervise the futures asset management business. Even so, we can still find the development path of China commodity futures fund from overseas successful experience. Commodity trading consultant (CTA) and commodity pool operator (CPO) are the most common overseas asset management models for commodities and derivatives. CTA directly or indirectly provides customers with futures and options investment advice to obtain income, and at the same time, it includes authorization operations for customer accounts; CPO is responsible for raising and managing the fund pool for investing in futures and options. There have been large-scale institutional commodity investment institutions in the form of companies in many areas of China, but the "studios" with wide distribution and small capital scale occupy an absolute advantage in number. This kind of "studio" with the nature of "management account" operates in the customer's account and gains income through the agreed profit sharing. This kind of futures "studio" actually has the prototype of CTA. In addition, similar to the previous attempts of some futures companies, brokers and trust companies that have cooperative relations with futures companies in the future can raise funds from investors and then hand them over to futures subsidiaries for specific investment operations. Therefore, to a certain extent, the subsidiaries in charge of asset management business of future futures companies can play the trading function of CTA and the operation function of CPO, while partners such as trust can perform the fund-raising function of CPO. For futures companies that rely solely on brokerage fees for a long time, under the condition of risk isolation, new business will undoubtedly bring broader profit space. More importantly, institutional and individual investors are expected to gain access to the commodity market through the new commodity futures asset management business. Further consideration is whether the commodity futures fund initiated by futures companies will become the main body of China's future commodity futures market. There are still many uncertainties. The limited partnership system in the Partnership Enterprise Law can bring legal support to private futures private equity funds outside the "futures company department". In the limited partner system, the limited partner bears limited liability for the partnership debt with the amount of capital contribution subscribed; The general partner shall bear unlimited liability for the partnership debts. This can combine the capital advantages of limited partners and the management advantages of general partners to make the risks controllable. In the future, more private-led commodity futures funds can also regulate their own development based on this system, but only if the commodity futures funds under the limited partnership system need further regulation by national laws.