Sponsored fund refers to the fund manager's subscription of funds with the company's shareholders' funds, the company's inherent funds, the company's senior management personnel or the fund manager's funds, and the holding period is not less than 3 years. Three years after the fund contract of the initiating fund comes into effect, if the net asset value of the fund is less than 200 million yuan, the fund contract will be automatically terminated. The holding period of the first fund shall be calculated from the date of public offering of the fund or the effective date of the contract.