Research On Securities Investment Fund Trustee System

As a collective investment instrument that provides service of "expert financing", securities investment fund has advantages of decentralizing risks and professional management; but on the other hand, it also contains the danger of fund manager's abusing power to aggrieve investor's interest. To protect investor's interest, fund governance frame must achieve the balance of inside powers. Nevertheless, the inside powers is distinct unbalance in China's fund governance frame; one of the important reasons result in which is the invalidation of fund trustee's supervision function. In order to consummate China's fund governance frame and improve the supervision function of fund trustee sufficiently, this article chooses to research fund trustee system. At first, this article clarifies the meaning of fund trustee, then analyzes the fund trustee system of unit trust in UK and mutual fund in USA, and finally gives suggestions to consummate China's trustee system.Besides foreword and conclusion, this article includes four chapters.Chapter 1 is a summary of securities investment fund trustee, which mainly clarifies the meaning of securities investment fund trustee, and analyzes the reason why fund trustee exists in securities investment fund frame.Chapter 2 construes the fund trustee system of unit trust in UK, which summarizes the concept and trust characters of unit trust at beginning, then analyzes the legal status and legislation of fund trustee in unit trust, the emphasis of which is the functions and restrictions of fund trustee.Chapter 3 discusses the fund trustee system of mutual fund in USA, which summarizes the concept and frame character of mutual fund above of all, and indicates that fund trustee of mutual fund includes fund director board and fund custodian because of its specialty of frame. After that, this chapter analyzes the legal status of fund director board and fund custodian in mutual fund, and finally researches the legislation of independent director.Chapter 4 reviews the actuality of China's securities investment fund trustee, and then gives the suggestions to solve the problems.