According to Article 44 of the Measures for the Operation and Management of Securities Investment Funds promulgated in 2004: "After the fund contract of an open-end fund comes into effect, if the number of fund share holders is less than 200 or the net asset value of the fund is less than 50 million yuan, the fund manager shall report to the China Securities Regulatory Commission in time; If the above situation occurs for 20 consecutive working days, the fund manager shall explain the reasons and submit a solution to the China Securities Regulatory Commission. " The fund manager has the right to announce the termination of the fund after obtaining the approval of the China Securities Regulatory Commission.
At present, most open-end fund contracts on the market generally stipulate that during the fund's existence, if the number of fund holders does not reach 65,438+000 for 60 consecutive working days, or the net asset value of the fund is less than 50 million yuan for 60 consecutive working days, the fund manager will announce the termination of the fund.