Securities Investment Fund Managers And Legal Obligations Comparative Study

The securities investment fund is a kind of risk-proliferated aggregative securities investment mode, which collect money from numerous uncertain investors and entrust such money to the management and operation gaining. The investors shall share the proceeds according to their investment quotient. In our country, securities fund developed upon the conditions without a wholesome law system and proper theories research. The absence of law kept the development of securities fund immature and the realization of investment equities difficult, while the lag of research hindered the consummation of fund laws, especially reflecting on the insufficient discussions of fiduciary duties. Reference to the fund laws of foreign countries, fund supervisors should be endued with the fiduciary duties, which were the necessities of effectively restricting the behaviors of fund supervisors and protecting the investment equities.This article put its emphases on the theories and practices research of fiduciary duties. The entire thesis is launched by investigating securities fund function and elaborating its important status in capital market and by regarding the research of fiduciary duty to the fund supervisor as the full text master line. In elaboration process the rationale in which the fiduciary duty produces is first analyzed. Secondly, this article thoroughly elaborates the specific request, which the duty of care and loyalty involves, and discusses the judgment standard that the duty of care and loyalty deal with as well as the correlation law system consummation. Finally, it offers proposals for how to consummate the system mechanism that guarantees the fund supervisor to fulfill the fiduciary duty. In brief, we must substitute the fiduciary duty for the good faith and construct the law system which need take fiduciary duty as its own core and restrict the behavior of negotiable securities investment fund supervisor, then by the above steps the entire investment fund law system must be getting promoted and perfected.