The fund manager is the fundraiser and manager of fund products, whose main duty is to be responsible for the investment operation of fund assets in accordance with the provisions of the fund contract, and strive for the maximum investment income for fund investors on the basis of effectively controlling risks. Here I share some requirements for fund managers, hoping to help you!

Overview of fund managers

Fund manager (fund management enterprise) refers to an organization that relies on professional knowledge and experience, uses the managed fund assets, implements investment decisions according to laws and regulations, the provisions of the fund or the agreement of the fund contract, and the scientific portfolio principle, so that the managed fund assets will continue to increase in value and fund holders will get as much income as possible.

Fund managers have different names in different countries. For example, it is called an investment management enterprise in Britain, a fund management enterprise in the United States, an investment trust enterprise in Japan and a securities investment trust enterprise in Taiwan Province Province of China, but the responsibilities are basically the same, that is, the use and management of fund assets.

Fund managers are managers and users of fund assets. The quality of fund income depends on the level of fund managers' use of fund assets, so the qualifications of fund managers must be strictly limited to protect the interests of investors. Only institutions with certain conditions can serve as fund managers. Different countries or regions have different standards for the qualifications of fund managers. Generally speaking, an institution applying to become a fund manager must be approved by the relevant government departments in accordance with the relevant securities investment trust laws and regulations of the country or region where it is located before it can obtain the qualification of a fund manager. The contents of the audit include: whether the fund management enterprise has certain capital strength and good reputation, whether it has the hardware conditions (such as fixed place and necessary facilities) to operate and operate the fund, whether it has specialized personnel and clear fund management plans, etc.

According to China's "Interim Measures for the Management of Securities Investment Funds", the responsibilities of fund managers are: using fund assets and investing in and managing fund assets according to the norms of fund contracts; Pay the fund income to the fund holder in time and in full; Keep the accounting books of the fund for more than 15 years; Prepare the fund financial report, make a timely announcement and report to the China Securities Regulatory Commission; Calculate and publish the net asset value of the fund and the net asset value of each fund share; Other duties stipulated in the fund contract; Managers of open-end funds should also handle the subscription and redemption of funds in a timely and accurate manner in accordance with the relevant national norms and the norms of fund contracts.

Urgent content of fund manager

(1) Qualification of a fund manager

The performance of the fund largely depends on the management ability and professional ethics of the fund manager. In order to protect the interests of fund investors, the capital market supervision departments of various countries and regions have made strict regulations on the qualifications of fund managers, especially employees. The regulatory authorities of each capital market generally require that the establishment and operation of fund management enterprises comply with the relevant laws and regulations of the country or region where the market is located, and fund management enterprises can engage in fund management business only after they have passed the examination by the securities regulatory authorities. The contents of the audit are the capital strength, securities business performance, capital asset utilization plan and the quality of core management personnel. In China, according to Article 12 of the Securities Investment Fund Law, fund managers are legally established fund management enterprises. As a fund manager, it shall be approved by the the State Council Securities Regulatory Authority. According to Article 13 of the Securities Investment Fund Law, a fund management enterprise that operates and manages a publicly offered fund shall meet the following conditions and be approved by the the State Council Securities Regulatory Authority:

(1) Having articles of association that conform to this Law and the Enterprise Law of People's Republic of China (PRC);

(2) The registered capital shall not be less than 1 billion yuan, and it must be paid-in monetary capital;

(3) The key shareholder has a good performance in operating financial business or managing financial institutions, has a good financial status and social reputation, and its asset scale meets the standards set by the State Council, and has no illegal record in the last three years;

(four) the number of personnel who have obtained the qualification for fund practice has reached a quorum;

(5) Directors, supervisors and senior managers have corresponding qualifications;

(6) Having business premises, safety precautions and other facilities related to the fund management business that meet the requirements;

(seven) has a good internal governance structure, perfect internal audit monitoring system and crisis control system;

(eight) other conditions stipulated by laws and administrative regulations and the State Council Securities Regulatory Authority approved by the State Council.

(2) Responsibilities of the fund manager

The fund manager is responsible for putting the fund assets into operation, and its urgent duty is to formulate the investment strategy of the fund assets, organize professionals, select specific investment targets, decide the investment opportunity, price and quantity, and use the fund assets for securities investment. In addition, the fund manager must publicize and sell the fund by himself or by entrusting other institutions, and be responsible for providing investors with information about the operation of the fund (including calculating and publishing the net asset value of the fund, preparing the financial report of the fund and making public announcements in time, etc.). ). The manager of the open-end fund should also handle the subscription and redemption of the fund in a timely and accurate manner in accordance with the relevant national norms and the norms of the fund contract.

(3) fund managers and fund practitioners

Generally speaking, countries have carried out legal supervision on fund managers and fund practitioners. According to article 16 of China's Securities Investment Fund Law, managers and other senior managers of fund managers should be familiar with the laws and administrative regulations on securities investment, have fund employment qualifications and have more than 3 years of work experience related to their positions.

(D) The fund manager resigns.

According to the provisions of Article 22 of China's Securities Investment Fund Law, the duties of the fund manager shall be terminated under any of the following circumstances:

(1) was disqualified from fund management according to law;

(2) Dismissed by the fund share holders' meeting;

(3) Being dissolved, revoked or declared bankrupt according to law;

(4) Other circumstances stipulated in the fund contract.

(V) Internal control of the fund manager

In short, the internal control system is a system that the management designs the operational processes and crisis control points of various departments and is jointly implemented by the board of directors, the management and all employees after being approved by the board of directors. The internal control system of fund enterprises is generally divided into six major business items: fund raising, fund operation management, fund transaction, fund affairs handling, business dispute handling and business income. Crisis management system refers to the process that fund management enterprises effectively identify, measure and manage crises.

Procedures and conditions for applying for the establishment of a fund management enterprise

The establishment of a fund management enterprise shall meet the following conditions:

(1) Shareholders meet the requirements of the Securities Investment Fund Law and these Measures;

(2) Having articles of association that conform to the Securities Investment Fund Law, the Enterprise Law and the norms of the China Securities Regulatory Commission.

(3) The registered capital is not less than 30 million yuan, and the shareholders must make capital contributions in cash, and the overseas shareholders make capital contributions in freely convertible currencies;

(4) There are not less than 65,438+05 senior managers and business personnel who meet the requirements of laws, administrative regulations and the China Securities Regulatory Commission, as well as personnel engaged in research, investment, valuation, marketing, etc., and have the qualifications for fund practice;

(5) Having business premises, safety precautions and other business-related facilities that meet the requirements;

(6) Setting up organizations and posts with reasonable division of labor and clear responsibilities;

(7) Having internal control systems such as supervision, auditing and crisis control that conform to the norms of the China Securities Regulatory Commission;

(8) Other conditions approved by the State Council and regulated by China Securities Regulatory Commission.

The application for the establishment of a fund management enterprise shall meet the corresponding conditions and be approved by the China Securities Regulatory Commission. The workflow of application review includes five links: on-site inspection, opinions issued by industry supervision (self-discipline management) departments, material acceptance, feedback and qualification examination and approval.

Eligible asset management institutions shall make good preparations in accordance with relevant requirements, and submit an application for on-site inspection to the local securities regulatory bureau after the preparatory work is basically ready. After the on-site inspection is qualified, the industry supervision (self-discipline management) department will issue supervision opinions on the application for the qualification of the institution's public offering fund management business. With the supervision letter issued by the industry supervision (self-discipline management) department, the institution formally submitted an application to the China Securities Regulatory Commission for the management of public offering funds. After receiving the application materials, the China Securities Regulatory Commission shall approve them if they meet the relevant conditions.