摘要：In February, the number of registered private securities investment fund managers reached 9,126, an increase of 26 from January, with a month-on-month growth rate of 0.29%. The number of private equity and venture capital fund managers incr
In February, the number of registered private securities investment fund managers reached 9,126, an increase of 26 from January, with a month-on-month growth rate of 0.29%. The number of private equity and venture capital fund managers increased by 14 from the previous month to 15,037, with a month-on-month growth rate of 0.09%. There are currently 9 private asset allocation fund managers, unchanged from the previous month.
1. Investor requirements for contract-type funds:
For contract-type funds, the number of investors should not exceed 200.
2. Investor requirements for limited partnership funds and limited liability company funds:
For limited partnership funds and limited liability company funds, the number of investors should be below 50.
3. Investor requirements for stock limited company funds:
For stock limited company funds, there should be at least 2 investors but no more than 200.
4. Transfer of fund shares:
If an investor transfers fund shares, the transferee must be a qualified investor.
5. Requirements for fund product filing:
When the fundraising period ends, the fund manager will prepare the product filing materials according to the requirements of the China Securities Investment Fund Association (CSIFA). Generally, the product filing is completed after the first private securities investment fund product is issued and established.
6. Relationship between GP and the fund manager in partnership enterprises:
In the partnership enterprise, there is only one general partner (GP) in the entrusted management mode, and this GP is not a private securities investment fund manager and does not hold any partnership position in the partnership enterprise. There is a strong relationship between the GP and the fund manager, but dual-GP products do not require this relationship.
7. Requirements for private securities investment fund license:
After issuing the first private equity fund product and completing the filing, the fund manager can apply for a private securities investment fund license separately.
8. Investment scope of private securities investment fund:
Private securities investment funds can invest in publicly issued shares of limited liability companies (listed companies), bonds, fund shares, and other securities and derivatives specified by the China Securities Regulatory Commission (CSRC).
9. Exclusions from the Asset Management Regulations:
The Asset Management Regulations do not apply to asset securitization businesses introduced by financial regulatory authorities or pension products issued based on rules issued by the Ministry of Human Resources and Social Security. Non-financial institutions are not allowed to issue or sell asset management products, including private investment funds, which are subject to separate laws, regulations, and rules.
Overall, the requirements for the number of issuers of private securities investment fund products vary depending on the fund type. It is important for fund managers to comply with these requirements to ensure the proper issuance and management of their funds.
