Article 3 of People's Republic of China (PRC) Securities Investment Fund Law The rights and obligations of fund managers, fund custodians and fund share holders shall be stipulated in the fund contract in accordance with this Law.

Fund managers and fund custodians shall perform their fiduciary duties in accordance with this Law and the provisions of fund contracts.

Fund share holders of funds established through public offering (hereinafter referred to as Public Offering of Fund) shall enjoy benefits and bear risks according to their fund shares, and the income distribution and risk bearing of funds established through non-public offering (hereinafter referred to as non-public offering funds) shall be stipulated in the fund contract.