Legal analysis: Equity investment fund is a kind of private equity fund. Private equity funds should be managed by fund custodians. If the fund contract stipulates not to manage private equity funds, the institutional measures and dispute settlement mechanism for ensuring the property safety of private equity funds shall be clearly defined in the fund contract.

Legal basis: Article 39 of People's Republic of China (PRC) Securities Investment Fund Law. If the fund custodian no longer meets the requirements stipulated in this Law, or fails to perform his duties diligently, and has made major mistakes in performing his duties stipulated in this Law, the the State Council Securities Regulatory Authority and the the State Council Banking Regulatory Authority shall order him to make corrections; If it fails to make corrections within the time limit, or its behavior seriously affects the steady operation of the entrusted fund and damages the interests of the fund share holders, the the State Council securities regulatory agency and the the State Council banking regulatory agency may take the following measures according to the circumstances:

(1) Restricting business activities and ordering to suspend new fund custody business.

(two) ordered to replace the responsible senior management personnel of the special fund custody department.

After the rectification, the fund custodian shall submit a report to the the State Council Securities Regulatory Authority and the the State Council Banking Regulatory Authority; If it meets the relevant requirements after acceptance, the relevant measures taken against it shall be lifted within three days from the date of completion of acceptance.