| Being a commercial trust, inventing fund reveals man's utmost enlargement and usage of trust, an instrument of property using, during the ascending period of capitalism. As the derivative nation, it is inevitable for China to dig into the legal design of investing fund; whereas, internal analysis and study of investing fund through the legal cut is far from being enough. Tn light of the deviation of culture tradition among nations, and the hamper initiated by the original legal tradition when China derivates investing fund, this article uses the comparative method to take foreign nations' advanced experiences for reference, and expound, combined with Chinese internal situation, four issues, ranging in the name of investing fund, the trust contract structure of investing fund, the fiduciary duty of investing fund manager and the supervising system of investing fund, in that the whole article is divided into four parts:Chapter I : The name of investment fund is a manifestation for the connotation of a country's investment fund; therefore, a scientific name of investment fund could bring a good mutual effect to the whole investment fund system, which is essential to legislation and law enforcement of it. The industry of investment fund of our country lagged behind others' and its name is in confusion. We should take foreign experience for reference and definite it as security investment trust fund.Chapter II: Trust contract is the fundament for the existing and motion of the contractual investing fund. The defining of roles of the sides of investing fund depends on the reasonable arrangement of the trust contract. It correlates to defending the investors' benefits that how to define trust contract correctly. Based on the comparatively studying different countries' contract structure of investing fund, thischapter dissects the loopholes and drawbacks of Chinese existing contract structure of investing fund, and suggests taking Japanese model as reference to import trust system to create a unit trust contract, then putting fund holder, fund manager and fund custodian into one trust contract. Chapter Ml: The investing fund manager enjoys almost an absolute right of discretion in this collective investment fund system, so that it is of great importance to restrict this power. Laws of different countries stipulate that fund managers bear fiduciary duty to fundholders to restrict this power, based on which a comparatively more scientific system protecting investors' benefits has been set up. Our country is in lack of this kind of provision, this loophole of legislation affect safeguarding the benefits of investors and sound development of investing fund. This part states fiduciary duty's concept, initiating reason and content, based which it, aiming at the defects of fiduciary duty of legal system in China, holds that our law should define and consummate the fiduciary duty of investing fund manager.Chapter IV: As a financial investing tool, investing fund has been playing more and more conspicuous role in financial market, in that it, to some extent, decides that whether our country's financial market is stable or not. This part compares different nations' supervising system of investing fund, and analyzes Chinese supervising system's, based which it suggests uniting Chinese supervising system, perfecting methods of administrative supervision, and setting up Chinese self-supervising system of investing fund by constructing Chinese committee of security trust investing fund. |
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