舉(ju)個栗子，常見(jian)的(de)(de)一(yi)種(zhong)類型：一(yi)個傘形信托計劃(hua)，其中包含優先級(ji)(ji)和劣(lie)后(hou)級(ji)(ji)兩種(zhong)份(fen)額，兩種(zhong)份(fen)額比例為(wei)5：1，信托計劃(hua)資金投向二(er)級(ji)(ji)市場。優先級(ji)(ji)享(xiang)受固定收(shou)益(yi)(yi)(yi)，假(jia)設(she)10%/年(nian)，剩余收(shou)益(yi)(yi)(yi)歸劣(lie)后(hou)級(ji)(ji)。簡(jian)單計算一(yi)下，假(jia)設(she)一(yi)年(nian)后(hou)信托計劃(hua)實(shi)現了20%的(de)(de)收(shou)益(yi)(yi)(yi)，那(nei)么優先級(ji)(ji)收(shou)益(yi)(yi)(yi)為(wei)10%，劣(lie)后(hou)級(ji)(ji)收(shou)益(yi)(yi)(yi)為(wei)20%×（5+1）－10%×5=70%；假(jia)設(she)一(yi)年(nian)后(hou)信托計劃(hua)的(de)(de)收(shou)益(yi)(yi)(yi)為(wei)0%，那(nei)么優先級(ji)(ji)收(shou)益(yi)(yi)(yi)仍為(wei)10%，劣(lie)后(hou)級(ji)(ji)的(de)(de)收(shou)益(yi)(yi)(yi)為(wei)0%×（5+1）-10%×5=-50%。由此我們可(ke)以發現，當總收(shou)益(yi)(yi)(yi)在0%-20%變(bian)(bian)化時，劣(lie)后(hou)級(ji)(ji)的(de)(de)收(shou)益(yi)(yi)(yi)從-50%變(bian)(bian)化到了70%，變(bian)(bian)化幅度急劇增(zeng)大，風險(xian)增(zeng)加(jia)。

當傘形信托持有的(de)股票(piao)行情稍微下降(jiang)一點，劣(lie)后級(ji)收益(yi)會(hui)下降(jiang)很多，信托公司為了保證優先級(ji)的(de)固定收益(yi)，會(hui)進(jin)行強行平(ping)倉賣(mai)出股票(piao)，加劇行情下降(jiang)。為了保證市(shi)場平(ping)穩(wen)運(yun)行，所(suo)以(yi)證監會(hui)要禁止傘形信托。

最后，把(ba)百科里的定義粘貼(tie)給你(ni)：傘形信(xin)托指同一個信(xin)托產(chan)品之中(zhong)包含(han)兩(liang)種(zhong)或兩(liang)種(zhong)以上不同類(lei)別(bie)的子信(xin)托，投資者(zhe)可(ke)根據投資偏好自由選(xuan)擇(ze)其中(zhong)一種(zhong)或幾種(zhong)進行組合投資，滿足(zu)不同的投資需要。

傘形信托是(shi)指(zhi)由(you)證(zheng)券公(gong)司、信托公(gong)司、銀行等(deng)金融機(ji)構共同合作，結(jie)合各自優勢，為證(zheng)券二級市場的(de)投(tou)資(zi)(zi)者提供投(tou)、融資(zi)(zi)服務的(de)結(jie)構化證(zheng)券投(tou)資(zi)(zi)產(chan)(chan)品。具體來說，就是(shi)用銀行理財資(zi)(zi)金借道信托產(chan)(chan)品，通過配(pei)資(zi)(zi)、融資(zi)(zi)等(deng)方式(shi)，增加杠桿后投(tou)資(zi)(zi)于股市。

傘(san)(san)(san)形(xing)信(xin)(xin)(xin)(xin)托(tuo)(tuo)是(shi)借鑒傘(san)(san)(san)形(xing)基金(jin)(jin)的(de)(de)產物(wu)。傘(san)(san)(san)形(xing)信(xin)(xin)(xin)(xin)托(tuo)(tuo)指(zhi)同(tong)(tong)(tong)(tong)(tong)一個(ge)信(xin)(xin)(xin)(xin)托(tuo)(tuo)產品之中包(bao)含(han)兩(liang)種或(huo)兩(liang)種以(yi)(yi)上不(bu)(bu)(bu)同(tong)(tong)(tong)(tong)(tong)類(lei)別的(de)(de)子(zi)(zi)(zi)信(xin)(xin)(xin)(xin)托(tuo)(tuo)，投(tou)(tou)資(zi)(zi)(zi)(zi)者可(ke)(ke)根(gen)(gen)(gen)據投(tou)(tou)資(zi)(zi)(zi)(zi)偏(pian)好自(zi)由(you)選擇其(qi)(qi)中一種或(huo)幾(ji)種進(jin)行組(zu)合(he)投(tou)(tou)資(zi)(zi)(zi)(zi)，滿足不(bu)(bu)(bu)同(tong)(tong)(tong)(tong)(tong)的(de)(de)投(tou)(tou)資(zi)(zi)(zi)(zi)需要(yao)。根(gen)(gen)(gen)據具(ju)體(ti)情(qing)(qing)況(kuang)，傘(san)(san)(san)形(xing)信(xin)(xin)(xin)(xin)托(tuo)(tuo)下(xia)的(de)(de)子(zi)(zi)(zi)信(xin)(xin)(xin)(xin)托(tuo)(tuo)主(zhu)要(yao)有下(xia)列類(lei)型和(he)情(qing)(qing)況(kuang)：其(qi)(qi)一，各(ge)個(ge)子(zi)(zi)(zi)信(xin)(xin)(xin)(xin)托(tuo)(tuo)的(de)(de)資(zi)(zi)(zi)(zi)金(jin)(jin)運(yun)(yun)(yun)用(yong)(yong)于同(tong)(tong)(tong)(tong)(tong)一個(ge)企(qi)業(ye)(ye)，運(yun)(yun)(yun)用(yong)(yong)方(fang)式(shi)相同(tong)(tong)(tong)(tong)(tong)，但信(xin)(xin)(xin)(xin)托(tuo)(tuo)期(qi)限(xian)與(yu)預(yu)計收益率不(bu)(bu)(bu)同(tong)(tong)(tong)(tong)(tong)；其(qi)(qi)二，各(ge)個(ge)子(zi)(zi)(zi)信(xin)(xin)(xin)(xin)托(tuo)(tuo)的(de)(de)資(zi)(zi)(zi)(zi)金(jin)(jin)運(yun)(yun)(yun)... 傘(san)(san)(san)形(xing)信(xin)(xin)(xin)(xin)托(tuo)(tuo)是(shi)借鑒傘(san)(san)(san)形(xing)基金(jin)(jin)的(de)(de)產物(wu)。傘(san)(san)(san)形(xing)信(xin)(xin)(xin)(xin)托(tuo)(tuo)指(zhi)同(tong)(tong)(tong)(tong)(tong)一個(ge)信(xin)(xin)(xin)(xin)托(tuo)(tuo)產品之中包(bao)含(han)兩(liang)種或(huo)兩(liang)種以(yi)(yi)上不(bu)(bu)(bu)同(tong)(tong)(tong)(tong)(tong)類(lei)別的(de)(de)子(zi)(zi)(zi)信(xin)(xin)(xin)(xin)托(tuo)(tuo)，投(tou)(tou)資(zi)(zi)(zi)(zi)者可(ke)(ke)根(gen)(gen)(gen)據投(tou)(tou)資(zi)(zi)(zi)(zi)偏(pian)好自(zi)由(you)選擇其(qi)(qi)中一種或(huo)幾(ji)種進(jin)行組(zu)合(he)投(tou)(tou)資(zi)(zi)(zi)(zi)，滿足不(bu)(bu)(bu)同(tong)(tong)(tong)(tong)(tong)的(de)(de)投(tou)(tou)資(zi)(zi)(zi)(zi)需要(yao)。根(gen)(gen)(gen)據具(ju)體(ti)情(qing)(qing)況(kuang)，傘(san)(san)(san)形(xing)信(xin)(xin)(xin)(xin)托(tuo)(tuo)下(xia)的(de)(de)子(zi)(zi)(zi)信(xin)(xin)(xin)(xin)托(tuo)(tuo)主(zhu)要(yao)有下(xia)列類(lei)型和(he)情(qing)(qing)況(kuang)：其(qi)(qi)一，各(ge)個(ge)子(zi)(zi)(zi)信(xin)(xin)(xin)(xin)托(tuo)(tuo)的(de)(de)資(zi)(zi)(zi)(zi)金(jin)(jin)運(yun)(yun)(yun)用(yong)(yong)于同(tong)(tong)(tong)(tong)(tong)一個(ge)企(qi)業(ye)(ye)，運(yun)(yun)(yun)用(yong)(yong)方(fang)式(shi)相同(tong)(tong)(tong)(tong)(tong)，但信(xin)(xin)(xin)(xin)托(tuo)(tuo)期(qi)限(xian)與(yu)預(yu)計收益率不(bu)(bu)(bu)同(tong)(tong)(tong)(tong)(tong)；其(qi)(qi)二，各(ge)個(ge)子(zi)(zi)(zi)信(xin)(xin)(xin)(xin)托(tuo)(tuo)的(de)(de)資(zi)(zi)(zi)(zi)金(jin)(jin)運(yun)(yun)(yun)用(yong)(yong)于不(bu)(bu)(bu)同(tong)(tong)(tong)(tong)(tong)的(de)(de)多(duo)個(ge)企(qi)業(ye)(ye)，每個(ge)企(qi)業(ye)(ye)的(de)(de)資(zi)(zi)(zi)(zi)金(jin)(jin)信(xin)(xin)(xin)(xin)托(tuo)(tuo)期(qi)限(xian)與(yu)預(yu)計收益率不(bu)(bu)(bu)同(tong)(tong)(tong)(tong)(tong)；其(qi)(qi)三，每個(ge)子(zi)(zi)(zi)信(xin)(xin)(xin)(xin)托(tuo)(tuo)的(de)(de)資(zi)(zi)(zi)(zi)金(jin)(jin)運(yun)(yun)(yun)用(yong)(yong)方(fang)式(shi)不(bu)(bu)(bu)同(tong)(tong)(tong)(tong)(tong)，運(yun)(yun)(yun)用(yong)(yong)對象、期(qi)限(xian)可(ke)(ke)以(yi)(yi)相同(tong)(tong)(tong)(tong)(tong)，也可(ke)(ke)以(yi)(yi)不(bu)(bu)(bu)同(tong)(tong)(tong)(tong)(tong)。