Contractual fund, also known as unit trust fund, refers to a fund management company jointly established by specialized investment institutions (banks and enterprises), with the fund management company as the principal, and by signing a "trust deed" with the trustee, the beneficiary certificate-"certificate of fund unit holding" is issued to raise idle funds in society.
Contractual funds are established by fund contracts signed between fund investors, fund managers and fund custodians. The rights of fund investors are mainly embodied in the terms of fund contracts, and the main aspects of fund contract terms are usually regulated by fund law.
Extended data:
Features:
1. Unit Trust is a management company established by a document named trust deed. In terms of organizational structure, it has no board of directors. The fund manager company set up the fund as the entrusting company and hired managers to manage the operation and operation of the fund.
Usually, the securities company or underwriting company handles the issuance, transaction, transfer, transaction, profit distribution, return and payment of income and principal and interest on behalf of the beneficiary certificate-fund table holding certificate.
2. The trustee accepts the entrustment of the fund manager company to register and open an account for the fund in the name of the trustee or trust company. The fund account is completely independent of the account of the fund custody company. Even if the fund custody company goes bankrupt due to poor management, its creditors cannot use the assets of the fund.
Its duties are to manage, keep and dispose of the trust property, supervise the investment work of the fund manager, and ensure that the fund manager abides by the investment regulations listed in the prospectus, so as to make its investment portfolio meet the requirements of trust deed. When the unit trust fund has problems, the trustee has the responsibility to claim compensation from investors.
Baidu Encyclopedia-Contract Fund