Enlightenment From Hong Kong Investment Funds Regulatory Framework To Mainland Securities Investment Funds Supervision

Investment fund is a collective investment system, which generallyrefers to funds raised through the sale of shares by the fund trustee, thefund manager managed the fund for the interests of fund shareholders,securities portfolio through asset investment. Over the past20years, themarket of investment funds is also the country’s fastest growing economypublic financial investment instruments, in many developed countriesinvestment funds have become the three pillars of the financial sector andbanking, insurance tied.1980s, China introduced the system of securitiesinvestment funds and access to rapid development, has become animportant part of China’s financial markets. This gives small investors tobroaden investment channels, optimize the financial structure, promotestability and healthy development of the securities market. From1998thefirst fund management company has been established, the fund industryasset size raise by almost50%annual growth rate, as of the end of2012,the net assets of all funds combined28,661.00million share of the total31,708.95billion, and December31,2011and the share of net scale 26,510.37million compared to net assets increased by674.245billionYuan,519.858billion copies of share size increased.Although China’s securities investment fund industry had greatmomentum of development, but there are still many problems andshortcomings. In Asia, Hong Kong is an important fund managementcenter. The research related to the legal system of Hong Kong’s securitiesinvestment funds, has an important reference for the development of fundindustry of China mainland.In this paper, a detailed comparison of the system of Mainland andHong Kong Securities Investment Fund, from the definition of the type offund to the mode of operation, the information disclosure system to theregulatory system, which focuses on comparing the legal regulation ofthe securities investment fund system.