Study On The Fiduciary Duty Of Private Equity Fund Managers

In recent years,with the gradual development and maturity of the securities market,the innovative financing method of private equity funds has also achieved considerable development in China,and has become an important part of China’s multi-level capital market.Private equity funds,as a new type of investment method,also have high-risk characteristics behind their high returns.It is not uncommon for fund managers to violate regulations and operate illegally,making it difficult for investors to meet their investment expectations or even lose their principal.These "private equity chaos" frequently occur,causing serious damage to the legitimate rights and interests of investors.In the operation of private equity funds,managers have great rights,but investors have little involvement in the specific operation of investment matters,and it is very difficult for investors to obtain effective protection through civil relief after their interests have been damaged.Against this background,the author has researched specific laws and regulations on the fiduciary obligations of Chinese private equity fund managers,and sought a way to respond to the existing problems by the rule of law,with a view to better protecting private equity fund investors and private equity Equity funds can achieve healthier development.In addition to the introduction,this article is divided into three parts,the main contents are as follows:The first part introduces the basic principles of the trust obligations of the private equity fund manager,and clarifies the connotation of the concept of the private equity fund manager.Particularity.The second part examines the status quo of trustworthiness obligations of private equity fund managers and reveals the current problems in the application of trustworthiness obligations and legal norms in China.The performance of private equity fund managers in breach of their fiduciary duties mainly includes:(1)illegal fund-raising and illegal absorption of public deposits;(2)illegally splitting income rights to break the investor threshold;(3)making profits privately.According to the analysis of these phenomena,combined with the general law and special law provisions on faithful obligations,this paper explores the current state of the faithful obligations of China’s private equity fund managers,and concludes that the most urgent needs of the present China’s private equity fund managers’ faithful obligations exist.problem.The third part,in view of the current lack of trust obligations of private equity fundmanagers,proposes a rule of law response to this problem,including three aspects:(1)improving relevant laws and regulations;(2)improving the information disclosure system;(3)Re-identify the burden of proof of the fund manager,resolve the “hidden” administrative pre-emption problems in fund case trials,and strengthen the court’s initiative in handling fund disputes.