People's Republic of China (PRC) trust law
Article 12
If the trustor establishes a trust that harms the interests of the creditors, the creditors have the right to apply to the people's court for revocation of the trust.
If the people's court revokes the trust in accordance with the provisions of the preceding paragraph, it will not affect the trust interests already obtained by the bona fide beneficiaries.
If the right of application stipulated in the first paragraph of this article is not exercised within one year from the date when the creditor knows or should know the reason for revocation, the right of application shall be extinguished.
Article 13
The establishment of testamentary trust shall abide by the provisions of the inheritance law on wills.
If the person designated in the will refuses or is unable to act as the trustee, the beneficiary shall appoint another trustee; If the beneficiary is a person without or with limited capacity for civil conduct, it shall be designated by his guardian according to law. If there are other provisions on the appointment of the trustee in the will, such provisions shall prevail.
Contractual private equity fund is actually a trust private equity fund, which belongs to the basic category of agency investment system. Fund managers, fund custodians and fund holders establish their mutual rights and obligations according to trust deed, and raise funds by issuing income certificates.
This kind of private equity fund mainly defines the rights and interests of all parties according to the relevant provisions of the Trust Law. Compared with Public Offering of Fund, the share of this kind of trust investment is larger, usually 6,543,800+0,000. Of course, the variety and proportion of investment are relatively loose and flexible, but fund managers will not only charge higher management fees and subscription fees, but also charge 20% of the proceeds.
Moreover, funds generally only purchase and redeem once a month, which takes a long time for fund holders. At the same time, contractual private equity funds can avoid double taxation. Such funds are mainly concentrated in Japan, Britain and Taiwan Province Province of China.
Asset management plan: As the name implies, it is a collection of customer assets and is managed by professional investors (brokers/fund subsidiaries). It is an innovative financial service product developed by a securities company/fund subsidiary for high-end customers, and it is an asset invested in equity or fixed-income investment products agreed in the product.