Article 1 In order to regulate the investment of publicly raised securities investment funds (hereinafter referred to as the Fund) in stocks listed on the National Equities Exchange and Quotations (hereinafter referred to as the New Third Board), prevent investment risks, and protect the legitimate rights and interests of fund share holders, in accordance with the Securities
The Investment Fund Law, the Measures for the Operation and Management of Publicly Offered Securities Investment Funds, and other laws and regulations have formulated these guidelines.
Article 2 The term “listed stocks” as mentioned in these Guidelines refers to stocks listed on the New Third Board and publicly transferred in accordance with the "Measures for the Supervision and Administration of Unlisted Public Companies".
Article 3 When applying to raise funds that invest in listed stocks, the proposed fund manager shall have corresponding investment research capabilities and be equipped with sufficient investment research personnel.
Article 4 When a fund invests in listed stocks, the fund category shall be stock funds, mixed funds, or bond funds.
Article 5 Fund assets are limited to investments in selected stocks.
If the invested stock is transferred out of the selection layer, the fund manager shall not invest in the stock from the date of transfer out, and shall promptly transfer the stock out of the investment portfolio.
Article 6 Fund managers shall, in accordance with the "Regulations on Liquidity Risk Management of Publicly Offered Open-End Securities Investment Funds" and other regulations, strengthen the liquidity risk management of investment portfolios, select selected stocks with good liquidity for investment, and prudently determine
Investment ratio.
2 Article 7 Fund managers and fund custodians shall use fair valuation methods to value listed stocks and properly retain relevant valuation data and basis.
When there is significant uncertainty in the value of the listed stocks invested by the fund and it faces potential large redemption applications, the fund manager can activate the side pocket mechanism after performing the corresponding procedures based on the principle of protecting the interests of fund share holders.
Article 8 A fund shall disclose in its annual report, semi-annual report and quarterly report the total number of listed stocks it holds, the proportion of the market value of listed stocks to the net asset value of the fund, and the details of the listed stocks held during the reporting period.
Article 9 The fund manager shall clearly disclose the fund’s investment in listed stocks and its unique risks in a prominent position in the fund contract and prospectus.
Fund managers should prepare risk disclosure statements and require investors to confirm in paper or electronic form that they understand the product features.
The risk disclosure statement shall include, but is not limited to, fund investment strategies, investment proportion limits, fund risk characteristics, etc.
Article 10 Fund managers shall work with sales agencies to conscientiously implement the investor suitability management system, and do a good job in fund product risk rating, investor risk tolerance identification, investor education, etc.
Article 11 When investing in listed stocks, fund managers shall fulfill their obligations of good faith, prudence and diligence, and establish and improve relevant internal control systems.
Fund managers and relevant practitioners are strictly prohibited from engaging in insider trading, market manipulation, interest transfer and other unfair trading activities.
Article 12 Fund managers shall establish and improve investment decision-making mechanisms and risk management systems for listed stocks, clarify stock screening standards, and make preparations for systems and technical systems.
3 Article 13 Fund managers and fund custodians shall, in accordance with laws, regulations and business rules, clarify their responsibilities in transaction execution, fund transfer, fund liquidation, accounting and other businesses, and establish an asset security mechanism.
The fund custodian shall strengthen the supervision, verification and risk control of the fund's investment in listed stocks. If it is discovered that the relevant investment of the fund manager violates laws, regulations and fund contract provisions, it shall report it to the China Securities Regulatory Commission in a timely manner to effectively protect the legal rights of fund share holders.
rights and interests.
Article 14 For funds that have been approved or registered by the China Securities Regulatory Commission before the implementation of these Guidelines, if the fund contract does not clearly stipulate that they can invest in stocks of the selected layer, they can invest in the stocks of the selected layer after performing appropriate procedures in accordance with laws, regulations and the fund contract.
stock.
Article 15 These Guidelines shall come into effect from the date of promulgation.