1. Contract fund is an agency investment system established according to certain trust deed principles. The trustee, the trustee and the beneficiary conclude a contract, and the management institution (trustee) manages the trust assets; Bank or trust company (trustee) keeps trust assets; Investors (beneficiaries) enjoy investment income.
2. The company fund operates in the form of a joint-stock company. Investors buy shares of the company and become shareholders of the company. Corporate funds involve four parties: investment companies are the main body of corporate funds; Managing companies, operating assets for investment companies; Custody companies that keep assets for investment companies are generally held by banks or trust companies; Underwriting companies, responsible for promoting and repurchasing company shares.
Company funds are divided into closed and open types. When the number of shares issued by closed-end funds remains unchanged, the fund size will be closed at the expiration of the issuance period, and the share will not be increased or decreased. Open-end funds, also known as * * * mutual funds, are not closed in terms of the number of shares and the size of the funds: investors can buy shares from the funds at any time to realize their investment, or they can sell them back to recover their investment.
Extended data:
Constitute the main body
1, the fund sponsor. It refers to the use of modern trust relationship mechanism in accordance with the basic principles of * * * joint investment, * * * enjoying benefits and * * * taking risks and some principles of joint-stock companies.
An investment institution that concentrates the scattered funds of investors in the form of funds to achieve the intended investment purpose. China stipulates that the sponsors of securities investment funds are securities companies, trust and investment companies and fund management companies.
2. Fund custodian. Refers to the safe custody of fund property; Opening fund accounts and securities accounts of fund property according to regulations; Set up separate accounts for different fund assets under custody to ensure the integrity and independence of the fund assets; Keep records, account books, statements and other relevant materials of fund custody business activities.
In accordance with the provisions of the fund contract, according to the investment instructions of the fund manager, timely handle liquidation and settlement matters; Institutions that handle matters such as information disclosure related to fund custody business activities.
3. Fund manager. It refers to raising funds according to law, and handling or entrusting other institutions recognized by the State Council securities regulatory authority to handle the sale, subscription, redemption and registration of fund shares on their behalf; Go through the fund filing procedures.
Manage and keep accounts of different fund properties managed separately, and invest in securities; Conduct fund accounting and prepare fund financial accounting reports; Organizations that prepare interim and annual fund reports, etc.
4. Fund share holders. That is, investors in the fund.
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