Continue the previous period. In this issue, we will continue to talk about British trusts.
Attention! In addition to the last issue, the British Trust has the following characteristics.
The last issue talked about the transformation of British trust industry from individual trust to legal person trust, from free trust to paid trust, from trust relationship between individuals to trust relationship between individuals and legal persons, and from legal person to legal person. These changes have accelerated the development of British trust industry.
In order to meet the needs of small and medium investors, in the 1960s, Britain initiated the investment trust business in the world, and now it has become an important tool in the capital market. 196 1 was promulgated, which enabled the trust and investment business to develop rapidly. The total assets of investment trusts have grown from less than 3 billion pounds in 1963 to 20 billion pounds at present.
The current trust business in Britain can be basically divided into: general trust business and investment trust business.
General trust business can be divided into personal trust and legal person trust according to the entrusted object.
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There are four main types of personal trust business (or civil trust business), so it depends on:
1, property management;
2. execute the will;
3. manage the estate;
4. Financial consultation, including personal property management, utilization, investment and tax payment.
Fortunately, there are only four types of corporate trust business.
1, share registration and transfer;
2. Management of annuity funds, such as the budget and final accounts of the fund, custody and issuance of investment securities, etc.
3. Entrustment of corporate bonds, such as authentication of corporate bonds, receipt and payment of debt repayment funds, payment of principal and interest, custody of collateral, etc.
4. Capital issuance, such as company establishment, capital increase, share acquisition, enterprise merger, etc.
Investment trust includes two main businesses: securities investment trust and unit investment trust.
In Britain, securities investment trust refers to the trust business that legal person trust companies accept the entrustment to buy and sell securities and manage them on their behalf. The funds of investment trust companies mainly come from publicly issued corporate bonds, preferred shares and common shares. These bonds and stocks can be listed and traded on the stock exchange. Unit investment trust is a kind of trust business, which collects many customers' funds to invest in various securities. The way to absorb funds is to sell sub-unit trust bonds.
Having said that, what are the characteristics of this British trust?
1. The development of British trust industry is mainly reflected in the establishment of trust system. See the previous issue for the specific preparation.
2. The trust industry in Britain is dominated by personal trust. The development of trust in Britain has a long history, but it still maintains a historical tradition, which shows that personal trust accounts for a large proportion in trust, and personal trust accounts for 80% of all trust business.
3. Investment trusts in British trust industry have developed rapidly. The investment trust was initiated by Britain. At present, the scope of British investment trust has developed to overseas territories and other countries outside the UK. The establishment and development of investment trust business has played an important role in concentrating idle funds in Britain and developing overseas investment.
Second, what does it inspire us?
1 actively make institutional arrangements for the development of the trust industry to meet the needs of the sustainable development of the trust industry as an independent industry. In addition to the system construction of one law and three regulations, in order to develop the trust industry quickly and well, in recent years, the trust industry has also begun to vigorously build a basic theoretical system of trust.
Vigorously develop the personal trust market to meet people's investment and financial management needs. At present, China's trust business and personal trust are weak links. The number of high-net-worth people in China is growing rapidly, and people know more and more how to preserve and increase the value of their property, which urgently requires an agent financial management system such as personal trust.
When it comes to the development of personal trust market, family trust is undoubtedly a blue ocean. At present, the trust industry puts forward the concept of family trust according to the characteristics of China. Family trust model can not only realize the basic functions of customized family trust, such as asset management and wealth inheritance, but also fully adapt to China's national conditions and economic development stage.
Vigorously carry out investment trust innovation to meet the needs of small and medium-sized investors. Investment trust first appeared in Britain and developed rapidly, which shows that innovation is the key to the development of trust industry. We should learn from the successful experience of British investment trust innovation and development, according to China's current trust business operation policies and regulations, combined with China's actual national conditions, vigorously carry out investment trust innovation to meet the needs of small and medium investors.
Trust itself is highly innovative and flexible. At present, the overall situation of the trust industry is also forcing the trust industry to integrate innovation into the blood. It depends on how 68 trust companies play new tricks under the norms of one law and two regulations.