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Comparison Of Corporate Funds From Lease Type And Company Funds Established

Posted on:2006-02-13Degree:MasterType:Thesis
Country:ChinaCandidate:J WangFull Text:PDF
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The legal basis of the Securities Investment Fund is trust; it is the extension and innovation of trust in financial field. According to the theory of trust, after investors subscribing to shares of Fund, the nominal ownership of property is transferred, and the right of management is transferred to managers too. Thus in the circumstance of the separation between the substantial ownership and the right of management, the protection of the benefit of investors becomes the foundation of the development of Fund. The Securities Investment Fund is divided into two main forms: Contractual Fund and Corporate Fund,based on how to design the relation of right and obligation inside the Fund. This thesis evaluates the legal relationship according to the theory of trust and the validity of supervision inside the two types. With reference to the governance structure in corporations, Corporate Fund creates a Fund Corporation which becomes the substantive representative of the benefit of investors. In contrast, the supervision in Contractual Fund is not so effective due to its structure. Due to the Securities Investment Fund developing late, the legislation is so frail in the field of Securities Investment Fund, and the regulation and the watching to the Securities Investment Fund is not mature, although it has been developing in ten more years. Although has come to birth, there exist practical problems on the protection of the benefit of investors, in Contractual Fund which is the main form in China. In a word, it is necessary for us to recommend Corporate Fund. And this thesis puts forward some suggestions on how to clear up the legal barrier to recommend Corporate Fund.
Keywords/Search Tags:Securities Investment Fund, Contractual Fund, Corporate Fund Inside supervision
PDF Full Text Request
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