| Trust is the behavior that a person entrust his property to the trustee on the basis of confidence,and the trustee hold and manage the property in the name of himself for the benefit of anther or others. The fundamental character of the trust system is the separating ownership from the profit right of the trust property,admitting the ownership of the trust property by the trustee,at the same time,admitting the profit right of the beneficiary,moreover,the protection is emphasized for the beneficiary s profit right and the trust property by the trust laws.As a public invest instrument,the trust invest fund is a collective invest way with which the investors sharing the benefit and the risk. A huge amount,risk-resist fund is formed by the capital of infinite investors especially the common investors,which not only meet the market request for capital,but also meet the mass investors desire to gain high profit on the condition of decreasing risk. Usually the fund is managed and operated by the invest experts and financiers. Combination investment by the principal of decentralizing risk ensures the effective use and general profit of the capital.The risk and risk control of the trust invest fund is a systematic project,which includes several aspects as follow. First,the risk and its control of the sponsor. Second,the risk and its control of the investors. Third,the risk and its control of the trustees. Fourth,the risk and its control of the supervisors. Fifth,the risk and its control of the service agency.The five aspects above are all essential. The control of investor s risk is premise,the control of trustee s risk is the key,the control of supervisor s risk is the guarantee,and the control of the sponsor s and service agency s risk is supplement. Only if all of above are integrated,coordinated each other,enhanced each other,the risk could be prevented and solved indeed,and the trust invest market develop rightly,consistentlyand steady.In the point of legal,to prevent and avoid the risk of the trust investment,we should leam other country s legislation experience in the investment,and strengthen our country s legislation in this field combining our country s present situation,as follow:Subject law of the trust market should be made to provide the rules of market entrance. It is determined by legal examination,that who are qualified to set up a trust invest fund as a sponsor;which kind of institute or organization can get into trust market to manage trust invest business as a trustee;which kind of institution or individuals are qualified to serve for the trust invest activities.From the basic characters of the trust systems,the trust property is the key of the trust relations;Trust will become non-valuable and meaningless without independent and distinguished property. So the protect scope and manners,the procedure of gain,use,and transfer,compensation rules etc. was determined by legislation to ensure the trust property s safety and to protect the basic right of the investors and the beneficiaries.. All the transactions should be carried under certain rules in the market-oriented economy environment. Participants are inevitable to do harm to others or the society because of the sharp contend. With these rules,all the transactions have the criterions to be done smoothly,the frictions are reduced or avoided,and so the unnecessary risk is avoided in the business.All the institutions are run in the market with their own benefit in this situation. It is not enough to run by their own restrains,the outside supervising system should be set up. In other words,the laws and regulations about trust invest supervising should be made and strength the market supervising.Usually,trust is set up for the beneficiaries profit,so the trustee should hold and manage the trust property for the sake of maximum the benefaction s benefit. Thedistribution ration of the invest profit should be considered when the trust invest laws are drawn up in our country. On one hand,maximizing the investor s ben... |
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