(1) Formulate relevant legal documents and apply to the competent authority for the establishment of the fund to prepare for the establishment of the fund.

Fund sponsors must study and analyze the country's economic and financial policies, market conditions, and the investment psychology of the public, and plan the proposed fund on this basis, such as determining the main investment, type, duration and fundraising scale of the fund.

(2) The fund promoters sign fund contracts with fund managers and fund custodians on behalf of the fund holders, stipulating the rights and obligations of all parties to the fund. At the same time, fund sponsors also need to produce other relevant documents required by the management authorities, such as prospectus.

③ Determine the distribution scheme and select the sales organization.

(4) Apply to the competent authority for establishment and submit the relevant documents required by the competent authority.

(5) After the application for establishment is approved, it shall be announced.

(2) Subscribe or hold a certain number of fund shares. Fund sponsors must subscribe for a certain number of fund shares when raising funds, and maintain a certain proportion during the duration of the fund, so as to integrate the interests of fund sponsors and fund holders, ensure that fund sponsors take safeguarding the legitimate rights and interests of investors as the code of conduct, do not engage in activities that harm the interests of investors, and effectively protect the interests of investors.

(3) When the fund cannot be established, the fund sponsors shall bear the fund raising expenses, and return the raised funds plus bank demand deposit interest to the fund subscribers within the specified time. Because fund sponsors have a great influence on the establishment of funds, some countries and regions have strict requirements on the conditions that sponsors should have.