1. The main sponsors are securities companies, trust and investment companies and fund management companies established in accordance with relevant state regulations;
2. The paid-in capital of each promoter is not less than 300 million yuan, and the main promoters have more than 3 years of securities investment experience and continuous profit records, except for fund management companies;
3. The promoters, fund custodians and fund managers have sound organizational structures and management systems, sound financial conditions and standardized business;
4. The fund custodian and fund manager have qualified business premises, safety precautions and other business-related facilities;
Five, other conditions stipulated by the China Securities Regulatory Commission. To apply for the establishment of an open-end fund, you must also be able to ensure that the net asset value of the fund and the purchase and redemption price are announced to investors at least once a week in terms of talents and technical facilities.
Sponsorship fund:
Fund managers and executives as fund sponsors subscribe for a certain amount of funds, which is called sponsored funds.
The CSRC has issued a notice to fund companies and custodian banks, saying that it will formally set up an initiating fund audit channel to simplify the audit procedures and give priority to the audit. This means that the start-up fund is officially opened.
The CSRC stated in the Notes on Issues Concerning the New Audit Channels of Sponsored Funds (hereinafter referred to as the Notes) that in principle, fund management companies are not required to raise more than 1 fund through the audit channels of sponsored funds, except for industry ETF funds.
Basic introduction:
Sponsored funds have lowered the threshold for raising funds and strengthened the fund withdrawal mechanism, that is, sponsored funds need to be stipulated in the fund contract. Three years after the fund contract comes into effect, if the fund assets are less than 200 million yuan, the fund contract will be automatically terminated, and it may not be extended by holding a holders' meeting.
In the application documents for raising sponsored funds, fund companies need to submit letters of commitment issued by sponsors, such as shareholders, companies, senior managers and fund managers, explaining the share they promised to buy and the lock-up period. The name of the fund shall be marked with "×× sponsored fund", and the changes in the share, term and period of the fund held by the sponsored fund shall be disclosed in the effective announcement of the fund contract and the periodic report of the fund.
Executives or fund managers who leave their posts during the lock-up period cannot redeem the initial shares in advance. On June 20th, China Securities Regulatory Commission announced the decision on amending Articles 6 and 12 to reserve space for the establishment of sponsored funds.