Asset managers and asset custodians shall abide by their duties, perform the obligations of honesty, credit, prudence and diligence, and treat all investors fairly.
The asset trustor shall ensure that the source of funds is legal and shall not harm the interests of the state, society or others. Article 4 A fund management company is engaged in specific asset management business, and the entrusted property is independent of the inherent property of the asset manager and the asset custodian, and independent of other properties managed by the asset manager and entrusted by the asset custodian. Asset managers and asset custodians may not classify the entrusted property as their inherent property.
The property and income obtained by the asset manager and the asset custodian due to the management, use or other circumstances of the entrusted property belong to the entrusted property.
If an asset manager or an asset custodian is liquidated due to dissolution, cancellation or bankruptcy according to law, the entrusted property does not belong to its liquidation property. Article 5 China Securities Regulatory Commission (hereinafter referred to as China Securities Regulatory Commission) shall supervise and manage specific asset management businesses in accordance with laws, administrative regulations and these Measures. Article 6 Securities and futures exchanges shall supervise the securities and futures trading activities of specific asset management businesses in accordance with laws, administrative regulations and these Measures. Chapter II Business Norms Article 7 A fund management company may engage in specific asset management business in the following forms:
(1) Handling specific asset management business for a single customer;
(2) Handling specific asset management business for specific customers. Article 8 With the approval of the China Securities Regulatory Commission, a fund management company that meets the following conditions may change its business scope and carry out specific asset management business:
(1) Its net assets and asset management scale comply with the relevant provisions of the China Securities Regulatory Commission;
(2) It has standardized business conduct, managed the securities investment fund for more than 2 years, and has not been given administrative punishment or ordered to rectify by the regulatory authorities in the latest year due to illegal acts, and is not being investigated by the regulatory authorities;
(3) Having corresponding professionals engaged in specific asset management business;
(4) Formulating effective business rules and measures to prevent behaviors such as interest transfer, illegal commitment of interests or losses, and unfair competition;
(five) the establishment of a fair trade management system, clear the principles, contents and specific measures to achieve fair trade;
(six) the establishment of an effective investment monitoring system and reporting system, which can detect abnormal trading behavior in time;
(seven) other conditions determined by the China Securities Regulatory Commission according to the principle of prudent supervision. Article 9 Where a specific asset management business is handled for a single customer, the initial assets entrusted by the customer shall not be less than 50 million yuan, unless otherwise stipulated by the China Securities Regulatory Commission. Article 10 When a fund management company engages in specific asset management business, it shall entrust the entrusted property to a commercial bank with fund custody qualification. Article 11 To engage in specific asset management business, the asset trustor, asset manager and asset custodian shall sign a written asset management contract, clearly stipulating their respective rights, obligations and related matters.
The content and format of an asset management contract shall be stipulated separately by the China Securities Regulatory Commission. Article 12 Asset managers and asset custodians shall fully disclose the possible risks in managing and using the entrusted property for investment in the asset management contract, so that the asset trustor can fully understand the relevant rights and obligations and be willing to bear the corresponding investment risks. Thirteenth entrusted property shall be used for the following investments:
(1) Stocks, bonds, securities investment funds, central bank bills, short-term financing bills, asset-backed securities and financial derivatives;
(2) Other investment types as stipulated by the China Securities Regulatory Commission. Fourteenth fund management companies engaged in specific asset management business, the entrusted property portfolio shall comply with laws and regulations and the relevant provisions of the China Securities Regulatory Commission; When participating in stock issuance and subscription, the number of shares declared by a single portfolio shall not exceed the total assets of the portfolio, and the number of shares declared by a single portfolio shall not exceed the total number of shares to be issued by the company this time. Article 15 Asset managers, asset custodians and asset trustors engaged in specific asset management businesses shall fulfill their obligations of information reporting and information disclosure related to specific asset management businesses in accordance with laws and regulations and the provisions of the China Securities Regulatory Commission. Article 16 The management rate and custody rate of a specific asset management business shall not be lower than 60% of the management rate and custody rate of securities investment funds with the same or similar investment objectives and strategies.
The asset manager may agree with the asset client to extract appropriate performance remuneration according to the management of the entrusted property. In a entrusted investment period, the proportion of performance awards shall not be higher than 20% of the net income of assets under management in that period. Fixed management fees and performance pay can be charged in parallel.