1. Recruitment procedure: five steps: application, approval, sale, filing and announcement.
2. Application documents: application report for fund raising, draft fund contract, draft fund custody agreement, draft prospectus, etc.
3. Approval of the application for offering: According to the requirements of the Securities Investment Fund Law, the China Securities Regulatory Commission shall make a decision of approval or disapproval within 6 months from the date of accepting the application for offering of closed-end funds.
4. Entry into force of the contract: Upon the expiration of the raising period, the total amount of fund shares reaches more than 80% of the approved scale, and the number of fund share holders reaches more than 200. The fund manager shall employ a statutory capital verification institution to conduct capital verification within 65,438+00 days from the expiration of the raising period. Submit filing application and capital verification report to China Securities Regulatory Commission within 10 days after receiving the capital verification report, go through the fund filing procedures, and publish the effective announcement of the fund contract.
5. Failure of fund raising: The fund manager shall bear the following responsibilities: a. Bear the debts and expenses arising from fund raising with the inherent property; B. Return the money paid by investors within 30 days after the expiration of the fund raising period, plus the deposit interest of the bank for the same period.
(2) Open-end fund raising and raising procedures: five steps: application, approval, sale, filing and announcement. 2. Raising documents: fund raising application report, draft fund contract, draft fund custody agreement, draft prospectus, etc. (It is also closed, but the specific contents of some documents are somewhat different. For example, the draft fund contract of an open-end fund should include the procedures, time, place, calculation method of expenses, payment of redemption money, etc.
3. Apply for approval (same as closed-end funds)
4. Offering period (same as closed-end funds, it is also required to raise no less than 200 million shares, no less than 200 yuan, and no less than 200 fund share holders).
C. Investment management of funds (fund managers)
D. Fund asset custody (fund custodian)
E. Fund share registration
The concept of open-end fund share registration: after an investor subscribes for a fund share, the registration institution establishes a fund account for the investor and registers it in the investor's fund account, indicating the fund share held by the investor.
F. Valuation and accounting of funds
1. The concept of fund asset valuation refers to the process of estimating all assets and liabilities owned by the fund and determining the fair value of the fund assets according to certain principles and methods.
Net asset value of fund = fund assets-fund liabilities
Net Fund Share = Net Fund Asset Value/Total Fund Share
2. Fund accounting: refers to the process of collecting, sorting out and processing accounting information about fund investment operation, accurately recording the changes of fund assets, and providing financial data and accounting statements to relevant parties in time.
G. Information disclosure of the Fund
1. Meaning: refers to the information disclosure made by the relevant parties in the fund market to the public in a series of links such as fund raising, listing and trading, and investment operation. According to laws and regulations.
2. Function: A. It is beneficial to investors' value judgment B. It is beneficial to prevent conflicts of interest and interest transmission C. It is beneficial to improve the efficiency of the securities market D. It is effective to prevent information abuse.
3. Classification: A. Fund raising information disclosure B. Operation information disclosure C. Temporary information disclosure