Research On The Information Disclosure System On Privately Offered Securities Investment Fund

As stock exchange market grows more and more popular, securities investment fund, which is highly efficient and convenient, becomes the foremost choice for many high-net-worth investors. However, public offering fund requires complicated procedures, high costs and strict information disclosure, many investment managing companies have to privately place fund shares to certain investors. With the issuing of the revised Law of the People’s Republic of China on Funds for Investments in Securities, privately offered securities investment fund is being more regulated, while obligation of information disclosure further strengthened.Information disclosure system is the soul and cornerstone for law on modern securities and supervision, as well as a certain way that modern government intervenes in security market. Its basic meaning is placed in ensuring the freedom and equality on stock market. To achieve this, more supports from the system are required.This paper focused on the information disclosure system on privately offered securities investment fund, which distinguishes itself from either the public offered funds that are under government supervision from the beginning, or the private equity investment fund, or PE as it is usually abbreviated. This paper hopes to map an information disclosure system on privately offered securities investment fund that caters to China’s status quo. This paper first theoretically analyzed the country’s law making status quo, then summarized the fundamental rules, ways and detailed regulations.Securities investment funds are of core importance on the stock exchange market, and privately offered securities investment fund as a part of it has developed rapidly in China. However, its flaws in information disclosure also become obvious, which greatly harm the interests of certain investors. To further study the information disclosure system of privately offered funds is of great significance to the development of China’s stock market and investors on it. Thus, strengthening information disclosure on privately offered securities investment funds is both beneficial to stabilize the fund market and to improve fund supervision.