According to Item (4) of Article 3 of the Announcement of China Fund Association on Further Standardizing the Registration of Private Fund Managers, which was promulgated and implemented by China Asset Management Association (hereinafter referred to as "the Fund Association") on February 5, 20 16, the registered private fund managers apply for changing the controlling shareholder, actual controller, legal representative/executive partner, general partner and other major matters or have been carefully identified by China Fund Association. That is to say, if a private fund manager who has registered with the fund industry association changes its controlling shareholder, actual controller, legal representative or executive partner or general partner, he must submit a special legal opinion at the same time when applying for major change registration with the fund industry association.
Private placement fund refers to a fund raised privately or directly from a specific group. The corresponding Public Offering of Fund is Public Offering of Fund. People usually say that funds are mainly mutual funds, that is, securities investment funds.
Private equity funds in a broad sense include private equity funds in addition to securities investment funds. In China's financial market, "private fund" or "underground fund" is usually a collective investment that is privately raised by specific investors, as opposed to the securities investment fund that is supervised by the competent department of China government and publicly issues beneficiary certificates to unspecified investors. There are basically two ways, one is a contractual collective investment fund based on signing the entrusted investment contract, and the other is a corporate collective investment fund based on * * * contributing shares to establish a joint-stock company.