Funds raised by fund management companies should be deposited in custodian banks, that is, fund custodians, usually commercial banks, such as Industrial and Commercial Bank of China, Bank of China and Shanghai Pudong Development Bank. They are in charge of money.
Question 2: What does the fund custodian mean? Custodian of securities investment funds: Who are the fund managers of the professional institutions responsible for fund initiation and management? In China, according to the Interim Measures for the Administration of Securities Investment Funds, the fund manager is a fund management company. Fund management companies are usually established by securities companies, trust and investment companies or other institutions and have independent legal personality. As the trustee, the fund manager must fulfill the "good faith obligation". The target function of fund managers is to maximize the interests of beneficiaries, and they should not consider their own interests or profit for third parties when dealing with business. Fund custodian is an institution that supervises fund managers and keeps fund assets according to the principle of "separation of management and maintenance" in fund operation. It represents the interests of fund holders and is usually served by powerful commercial banks and Huo Trust and Investment Company. The fund custodian and the fund manager sign a custody agreement, perform their duties within the scope agreed in the custody agreement and collect certain remuneration. Fund custodian plays an indispensable role in fund operation.
Question 3: What is fund custody? Why do you want fund custody? How much is the fund custody fee? Fund custody refers to the deposit of fund assets in banks. Because banks are relatively safe and are third parties, fund companies cannot misappropriate them, and the custody fee is very low. If you invest 1000 every month, it will cost a few cents or less every day, and the custody fee will be deducted a little every day.
Question 4: What is the fund custody fee? Trading funds have the following fees:
1, sales expenses. Investors need to pay a certain fee to the fund sales organization when purchasing funds. At present, the sales rate of domestic funds is generally between 1- 1.5% of the fund amount. The sales expenses during the fund issuance period are called subscription fees, and the daily sales expenses after the issuance period are called subscription fees. Generally speaking, in order to attract investors to buy funds, the subscription rate is cheaper than the subscription rate. In order to enable investors to hold funds for a long time, some fund companies have also introduced a back-end charging model, that is, investors do not charge fees when they buy funds, but postpone this fee until investors redeem it. However, if the investor holds the fund for more than a certain period of time, there is no need to pay the redemption fee.
2. Redemption fee. At present, domestic funds have to collect redemption fees, mainly to pay the operating expenses at the time of redemption. The general redemption rate is about 0.5% of the redemption amount. Similarly, investors are encouraged to hold funds for a long time. Some fund companies have introduced a charging method that the redemption fee decreases with the increase of holding time, that is, the longer the fund is held, the less the redemption fee will be paid during redemption, and no redemption fee will be charged after holding for a certain period of time. According to the latest fund regulations, 25% of the redemption fee should be included in the fund assets to compensate the investors who have not been redeemed.
3. Fund management fee. When a fund entrusts an expert to manage money, it should pay the expert, that is, the fund company has a certain management fee. At present, the annual management fee in China is generally between 0.3- 1.5%, which varies according to the investment objectives and the difficulty of management. Generally speaking, varieties with higher returns and risks are more difficult to manage, such as stock funds, which have higher management fees; However, varieties with lower returns and risks, such as money market funds, have lower management fees. The payment method of management fee is different from sales fee and redemption fee. The latter two expenses are paid when buying and selling the fund or deducted from the redemption money, and the management fee is deducted from the fund assets. In practice, it is generally calculated every day and deducted from the net value of the day, and investors do not need to pay extra money.
4. Custody fee. The principle of fund management is "separation of investment and custody". The custodian institution is responsible for the custody and delivery of the fund assets, and also has the function of supervising the fund company, so it is necessary to pay the custodian fee to the custodian institution. Generally speaking, in China, the annual custody fee is about 0.25% of the fund's net asset value.
Question 5: What is the meaning of fund custody in the fund account? Fund custody includes intra-system custody transfer and cross-system custody transfer.
Investors who intend to transfer the shares of listed open-end funds managed by a securities business department to other securities business departments, or transfer the shares of listed open-end funds managed by a consignment agency to other consignment agencies, can handle the transfer through the system. Cross-system custody transfer refers to transferring the fund shares registered in the securities registration system to the TA system (the fund shares are transferred from the securities business department to the consignment agency/fund manager), or transferring the fund shares registered in the TA system to the securities registration and settlement system (the fund shares are transferred from the consignment agency/fund manager to the securities business department).
Question 6: What is the difference between a fund custodian and a fund manager? A fund custodian refers to a financial institution such as a bank, usually a bank, which means that you put the investment money with him and let him keep it for you. The fund manager of a fund company can use him to enable the funds you put there to invest. Fund manager refers to the fund manager in a fund company, that is, the person who helps you make investments, often with high academic qualifications and high investment level. Then why put the money in the trustee's place? Isn't it more convenient to put it directly with the fund manager? This is to supervise and prevent fund companies from using your money to invest in their own accounts, making profits for themselves and infringing on the interests of investors, because fund companies also make investments themselves. The relationship between fund custodian and manager is a relationship of mutual supervision and checks and balances.
Question 7: What does compulsory custody of private equity fund mean? Private equity institutions are different from public offerings, and the relevant investment information is not known to the public, with high investment threshold and high risk. Whether there is compulsory custody in private placement is also a concern of investors.
Do private equity funds have to be managed?
Private placement funds shall be managed by fund custodians. If the fund contract stipulates that private equity funds shall not be managed, the institutional measures and dispute settlement mechanism for ensuring the property safety of private equity funds shall be clearly defined in the fund contract.
Do the custodian banks of private equity funds need any qualifications or requirements?
The securities fund custodian bank as stipulated in the Securities Investment Fund Law, that is, the custodian, shall meet the following conditions:
(1) Its net assets and risk control indicators comply with relevant regulations.
(2) There is a special fund custody department.
(3) The number of full-time personnel who have obtained the qualification for fund practice has reached a quorum.
(4) Having the conditions for safe custody of the fund property.
(5) Having a safe and efficient clearing and delivery system.
(6) Having business premises, safety precautions and other facilities related to the fund custody business that meet the requirements.
(7) Having a sound internal audit monitoring system and risk control system.
(8) Other conditions as prescribed by laws and administrative regulations, and as prescribed by the State Council securities regulatory agency and the State Council banking regulatory agency approved by the State Council.
There should be no special license, and generally large banks can meet the above conditions.
Information disclosure time of private equity fund:
The Administrative Measures require that information disclosure obligors of private equity funds should disclose to investors, including fund contracts; Prospectus and other publicity documents; Main rights and obligations in the fund sales agreement (if any); The investment situation of the fund; Assets and liabilities of the Fund; Distribution of fund investment income; The expenses and performance reward arrangements undertaken by the fund; Possible conflicts of interest; Major litigation and arbitration involving private fund management business, fund property and fund custody business; Other important information that affects the legitimate rights and interests of investors as stipulated by China Securities Regulatory Commission and China Fund Industry Association.
At the same time, the "Administrative Measures" made detailed provisions on information disclosure in the process of fund operation. According to the new regulations, during the operation of private equity funds, the information disclosure obligor shall disclose the fund's net value, main financial indicators and investment portfolio to investors within 10 working days after the end of each quarter. If the management scale of a single private investment fund reaches more than 50 million yuan, it shall continuously disclose the fund net value information to investors within 5 working days after the end of each month. In addition, in the process of private equity fund operation, the information disclosure obligor shall disclose the net value of the fund and the total share of the fund, the financial status of the fund, the fund investment operation and leverage to investors within 4 months after the end of each year.
Question 8: What is a fund custodian? Do private equity funds have to be managed? Generally, private equity funds and limited partnership products need to be managed, but all investors must sign an unmanaged agreement.
Question 9: What is the difference between a fund manager and a fund custodian? By the way, what is futures? The answer limit of your mobile phone question is 100 words. Simply put, the fund manager is the fund company, and the fund custodian is the institution that supervises and keeps the fund assets of the fund manager, basically commercial banks and trust companies.
For futures, see zhidao.baidu/question/52643103 for details.
Question 10: What does "the scale of private equity fund custody" mean? * * *, financial institutions, industrial and commercial enterprises and so on. When issuing securities, you can choose different investors as the issuing targets. Therefore, securities issuance can be divided into two forms: public offering and private offering.
Private placement (private placement)
Placement) is relative to public offering (public
Offering), private placement refers to the sale of shares by a small number of authorized investors (usually less than 35), which can avoid the registration procedure with the US Securities and Exchange Commission (SEC). Investors should sign an investment statement, and the purpose of buying is to invest, not to sell again.
First, "private placement" investment is basically illiquid;
Second, it is called "private placement" because investors cannot be openly recruited, sold in the open market or sold on the Internet.
Third, private investors can be angel investors or VC; It can be an individual or an institutional investor. But whoever it is must be a qualified investor.
acknowledged
Investors in Taiwan Province Province are translated as "big investors", while others are translated as "qualified investors", "authorized investors" or "trusted investors". Article D of the US Securities and Exchange Commission (SEC) stipulates that in order to become a qualified investor, an investor must have a net asset of at least $6,543,800+0,000, an annual income of at least $200,000, or must invest at least $655,000 in transactions.
If you want to raise funds through private placement, you should pay attention to this regulation in the United States. Outside the United States, such as China's private placement, there is no explicit provision.
The carriers of private placement include stocks, bonds and convertible bonds. Stocks can be preferred stocks, common stocks and so on. If you like, you can design the transaction very complicated. But don't be too complicated, it will scare away investors.