I. Fund share holders
Fund share holders, namely fund investors, are the funders, the owners of fund assets and the beneficiaries of fund investment returns.
(1) Rights of fund share holders
The basic rights of fund share holders include the right to enjoy fund income, the right to transfer fund shares and the right to participate in fund management decision-making to a certain extent. For different types of funds, holders have different ways to influence investment decisions. In corporate funds, fund share holders elect the board of directors of the fund company through the general meeting of shareholders, and exercise decision-making power on major issues of the fund company, which has great influence on the operation of the fund. In contract funds, fund share holders can only make resolutions on major issues of the fund by convening a fund beneficiary meeting, and generally cannot exert direct influence on the daily decision-making of the fund.
(2) Obligations of fund share holders
Fund share holders must undertake certain obligations, including: abiding by the fund contract; Pay the subscription amount and prescribed fees of the fund; Limited liability for fund loss or termination; Do not engage in any activities that damage the legitimate rights and interests of funds and other fund investors; During the existence of closed-end funds, it is not allowed to demand the redemption of fund shares; During the existence of closed-end funds, trading behavior and information disclosure must comply with the relevant provisions of laws and regulations; Other obligations stipulated in laws and regulations and fund contracts.
(3) Qualifications of fund share holders
(1) The total financial assets of an individual or family are not less than 2 million yuan;
(two) the average annual income of individuals in the last three years is not less than 200 thousand yuan;
(three) the average annual income of the family in the last three years is not less than 300 thousand yuan;
(4) The net assets of companies, enterprises and other institutions shall not be less than100000 yuan;
(5) The amount invested by qualified investors in a single private equity fund shall not be less than RMB 6,543,800+0,000;
(6) Investors shall ensure that the sources of entrusted funds are legal, and shall not illegally raise other people's funds to invest in private equity funds.
Second, the fund manager
Fund managers (i.e. private equity investment fund companies) are professional institutions responsible for the establishment and management of funds. They are not only responsible for the investment management of funds, but also responsible for product design, fund marketing, fund registration, fund valuation, accounting and customer service.
(1) fund manager qualification
The main business of fund managers is to initiate the establishment and management of funds. In order to protect the interests of investors, it is necessary to make strict regulations on the qualifications of fund managers, so that fund managers can better assume the responsibility of managing funds. China implements market access management for fund management companies. The Interim Measures for the Management of Private Equity Investment Funds stipulates: "The paid-in capital or actual contribution shall not be less than RMB 654.38+million; Among the products raised and managed by themselves or entrusted to other institutions for management, the scale of investment in publicly issued shares, bonds and fund shares of joint stock limited companies and other securities and their derivatives as stipulated by the China Securities Regulatory Commission is more than 6,543.80 billion yuan; There are two qualified licensed principals and one compliance risk control principal; It has a good social reputation, has no record of illegal acts in the last three years, and has no bad credit records in financial supervision, industry and commerce, taxation and other administrative organs, commercial banks, self-discipline management and other institutions. Other conditions stipulated by laws and administrative regulations and those stipulated by the State Council Securities Regulatory Authority approved by the State Council. "
(2) Responsibilities of the fund manager
China's "Securities Investment Fund Law" stipulates: "Fund managers shall perform the following duties: raise funds according to law, and handle or entrust other institutions recognized by the State Council Securities Regulatory Authority to handle the sale, subscription, redemption and registration of fund shares on their behalf; Handling fund filing procedures; Manage and keep accounts of different fund properties managed separately, and invest in securities; Determine the fund income distribution plan according to the agreement of the fund contract and distribute the income to the fund share holders in time; Conduct fund accounting and prepare fund financial accounting reports; Prepare interim and annual fund reports; Calculate and publish the net asset value of the fund, and determine the subscription and redemption prices of the fund shares; Other duties stipulated by the the State Council Securities Regulatory Authority. "
Three. Fund custodian
The fund custodian, also known as the fund custodian, is the party responsible for asset custody, transaction supervision, information disclosure, fund settlement and accounting in the operation of securities investment funds according to the requirements of laws and regulations. The fund custodian is the representative of the rights and interests of the fund holder, usually served by a powerful commercial bank or trust and investment company.
(1) fund custodian conditions
The role of fund custodian determines that it has important legal and administrative responsibilities for the funds it manages. Therefore, it is necessary to clearly define the qualifications of the custodian. Generally speaking, the fund custodian should be a financial institution that is completely independent of the fund management institution, has certain economic strength, has a certain paid-in capital and has an industry reputation.
The qualification of fund custody has been approved by the State Council Securities Regulatory Authority and the State Council Banking Regulatory Authority; Its net assets and capital adequacy ratio meet the relevant provisions; Having a special fund custody department; The number of full-time personnel who have obtained the qualification for fund practice has reached a quorum; Having the conditions for safe custody of the fund property; It has a safe and efficient clearing and delivery system; Having business premises, safety precautions and other facilities related to the fund custody business that meet the requirements; Having a sound internal audit monitoring system and risk control system; Other conditions as prescribed by laws and administrative regulations, and as prescribed by the State Council Securities Regulatory Authority and the State Council Banking Regulatory Authority approved by the State Council.
(2) Responsibilities of the fund custodian
China's Securities Investment Fund Law stipulates that the fund custodian shall perform the following duties: keeping the fund property safely; Opening fund accounts and securities accounts of fund property according to regulations; Set up separate accounts for different fund assets under custody to ensure the integrity and independence of the fund assets; Keep records, account books, statements and other relevant materials of fund custody business activities; In accordance with the provisions of the fund contract, according to the investment instructions of the fund manager, timely handle liquidation and settlement matters; Other duties as stipulated by the the State Council Securities Regulatory Authority.