The performance of the fund largely depends on the management ability and professional ethics of the fund manager. In order to protect the interests of fund investors, the capital market supervision departments of various countries and regions have made strict regulations on the qualifications of fund managers, especially employees. The regulatory authorities of each capital market generally require that the establishment and operation of fund management enterprises comply with the relevant laws and regulations of the country or region where the market is located, and fund management enterprises can engage in fund management business only after they have passed the examination by the securities regulatory authorities. The contents of the audit are the capital strength, securities business performance, capital asset utilization plan and the quality of core management personnel. In China, according to Article 12 of the Securities Investment Fund Law, fund managers are legally established fund management enterprises. As a fund manager, it shall be approved by the the State Council Securities Regulatory Authority. According to Article 13 of the Securities Investment Fund Law, a fund management enterprise that operates and manages a publicly offered fund shall meet the following conditions and be approved by the the State Council Securities Regulatory Authority:

(1) Having articles of association that conform to this Law and the Enterprise Law of People's Republic of China (PRC);

(2) The registered capital shall not be less than 1 billion yuan, and it must be paid-in monetary capital;

(3) The key shareholder has a good performance in operating financial business or managing financial institutions, has a good financial status and social reputation, and its asset scale meets the standards set by the State Council, and has no illegal record in the last three years;

(four) the number of personnel who have obtained the qualification for fund practice has reached a quorum;

(5) Directors, supervisors and senior managers have corresponding qualifications;

(6) Having business premises, safety precautions and other facilities related to the fund management business that meet the requirements;

(seven) has a good internal governance structure, perfect internal audit monitoring system and crisis control system;

(eight) other conditions stipulated by laws and administrative regulations and the State Council Securities Regulatory Authority approved by the State Council.

(II) Responsibilities of the fund manager The fund manager is responsible for the investment and operation of the fund assets. The urgent task is to formulate the investment strategy of fund assets, organize professionals, choose specific investment targets, decide the investment opportunity, price and quantity, and use fund assets to invest in securities. In addition, the fund manager must publicize and sell the fund by himself or by entrusting other institutions, and be responsible for providing investors with information about the operation of the fund (including calculating and publishing the net asset value of the fund, preparing the financial report of the fund and making public announcements in time, etc.). ). The manager of the open-end fund should also handle the subscription and redemption of the fund in a timely and accurate manner in accordance with the relevant national norms and the norms of the fund contract.

(III) Fund managers and fund practitioners Generally speaking, all countries have fund managers and fund practitioners regulated according to law. According to article 16 of China's Securities Investment Fund Law, managers and other senior managers of fund managers should be familiar with the laws and administrative regulations on securities investment, have fund employment qualifications and have more than 3 years of work experience related to their positions.

(IV) Retirement of the fund manager According to Article 22 of China's Securities Investment Fund Law, the duties of the fund manager shall be terminated under the following circumstances:

(1) was disqualified from fund management according to law;

(2) Dismissed by the fund share holders' meeting;

(3) Being dissolved, revoked or declared bankrupt according to law;

(4) Other circumstances stipulated in the fund contract.

(V) Internal control of the fund manager

In short, the internal control system is a system that the management designs the operational processes and crisis control points of various departments and is jointly implemented by the board of directors, the management and all employees after being approved by the board of directors. The internal control system of fund enterprises is generally divided into six major business items: fund raising, fund operation management, fund transaction, fund affairs handling, business dispute handling and business income. Crisis management system refers to the process that fund management enterprises effectively identify, measure and manage crises.