中国证券投资基金业协会

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Notice of the China Securities Regulatory Commission on Issues Concerning the Implementation of Measures for Administration of Overseas Securities Investment by Qualified Domestic Institutional Investors (Trial)

[2015-07-20]

Document Number: Zheng Jian Fa [2007] No. 81

Promulgating Date: 06/18/2007

Effective Date: 07/05/2007

 

Fund management companies, securities companies and custodian banks,

In order to carry out the Interim Measures for the Administration of Overseas Securities Investment by Qualified Domestic Institutional Investors (hereinafter referred to as "the Interim Measures") and facilitate the overseas securities investment made by qualified domestic institutional investors (hereinafter referred to as "domestic institutional investors"), notification of relevant issues concerning the implementation of the Interim Measures is hereby made as follows:

       1. Certificates in compliance with Article 8 of the Interim Measures shall be:

    (1) certificates regarding the assets management scale by the last quarter produced by domestic certified public accountants;

    (2) materials about the educational background, working experience, practicing qualifications and professional titles of persons who are experienced in terms of overseas investment management; and

    (3) major systems such as risk control, compliance control and investment management.

       2. Certificates in compliance with Article 14 of the Interim Measures shall be:

    (1) business licenses and business permission certificates (photocopies) issued by governments and regulatory authorities of countries or regions where overseas investment consultants (hereinafter referred to as "investment consultants") reside;

    (2) certificates regarding the assets management scale by the previous year produced by overseas certified public accountants;

    (3) articles of association of the investment consultants or partners thereof;

    (4) major systems of investment consultants such as risk control, compliance control and investment management;

    (5) explanations on whether the investment consultants have suffered serious punishment by regulatory authorities in the recent five years and are being investigated by judicial and regulatory authorities due to major misconduct;

    (6) audited last-year financial statements of the investment consultants; and

    (7) explanations on the incorporation and business operation of organizations within China by the investment consultants and affiliates thereof.

    Where a foreign language is used in materials prescribed in the preceding paragraph, such materials shall be accompanied by Chinese versions or extracts.

      3. Certificates in compliance with Article 19 of the Interim Measures shall be:

    (1) financial business permits (photocopies);

    (2) business licenses (photocopies);

    (3) certificates of the paid-in capital or certificates regarding the assets custody scale by the last year produced by overseas certified public accountants;

    (4) explanations on the manning of custody departments and on assets safekeeping conditions;

    (5) main management systems regarding the custody business; and

    (6) explanations on having not suffered serious punishment in the recent three years by regulatory authorities of countries or regions where the parties concerned reside and being not investigated by judicial and regulatory authorities due to major misconduct.

    Where a foreign language is used in materials prescribed in the preceding paragraph, such materials shall be accompanied by Chinese versions or extracts.

       4. Fund Raising

    (1) application materials regarding fund raising

    Where domestic institutional investors apply for fund raising and pool plans, they shall provide application materials in accordance with the Law on Securities Investment Funds, the Administrative Measures for the Operation of Securities Investment Funds, the Interim Measures for Client Assets Management Business of Securities Companies and relevant provisions as well as the following materials (one original and one duplicate for each):

    (a) risk warning letters for investors;

    (b) educational materials for investors, including but not limited to:

    (i) brief introductions to the fund and pool plan;

    (ii) introductions to major risks investors are exposed to when they invest overseas by purchasing funds or pool plans;

    (iii) introductions to markets of countries or regions where the investment is made;

    (iv) general knowledge about the financial products or vehicles to be invested in; and

    (v) compilation rules and selection criteria regarding the comparative benchmark for fund investment achievements.

    Educational materials for investors shall be written in concise and plain Chinese, shall not contain promotional information about specific fund products, pool plans, domestic institutional investors or their products and services, but may cite products or services as examples, which will not have a promotional effect on companies, products or services.

    (c) Domestic institutional investors entrusting investment consultants shall provide the following materials as well:

    (i) profiles of investment consultants (Appendix 1);

    (ii) referendum agreements executed by and between domestic institutional investors and investment consultants; and

    (iii) certificates as prescribed in Article 2 of this Notice.

    (d) Custodians entrusting overseas custodians shall provide the following materials as well:

    (i) referendum agreements executed by and between custodians and overseas custodians; and

    (ii) certificates as prescribed in Article 3 of this Notice.

    Where a foreign language is used in materials prescribed in the preceding paragraph, such materials shall be accompanied by Chinese versions or extracts.

    (2) names of funds and pool plans shall meet the following requirements:

    (a) being of concise, clear and reader-friendly wording; and

    (b) being in conformity with the investment strategies, investment spectrums and target countries or regions of funds and pool plans.

    (3) Comparative benchmarks for fund investment achievements and the selection thereof shall meet the following conditions:

    (a) comparative benchmarks for achievements shall be specified at the beginning of performance appraisals;

    (b) comparative benchmarks for achievements shall be in conformity with the style and method of investment;

    (c) data on comparative benchmarks for achievements may be obtained at proper intervals;

    (d) components of comparative benchmarks for achievements and the weight thereof may be clearly determined;

    (e) understanding the status quo of securities constituting comparative benchmarks for achievements and being well versed in research;

    (f) accepting the applicability of comparative benchmarks for achievements and being able to reasonably explain the derivation of active management from the comparative benchmark for achievements; and

    (g) comparative benchmarks of achievements shall be reproducible.

    (4) The initial raising of funds and pool plans shall meet the following requirements:

    (a) Renminbi, US dollar or other major foreign currencies may be used as the currency for raising;

    (b) the amount of raised funds shall not be less than RMB200 million or equivalent value in other currencies; the amount of raised pool plans shall not be less than RMB100 million or equivalent value in other currencies;

    (c) holders of open-ended fund shares shall not be less than 200, holders of close-ended fund shares shall not be less than 1,000, and holders of pool plans shall not be less than 2; and

    (d) where the raising is made at face value, domestic institutional investors may determine the face value according to the product characteristics.

      5. Investment Operation

    (1) Unless otherwise provided for by the CSRC, funds and pool plans may be invested in the following financial products or vehicles:

    (a) bank deposits, negotiable deposit certificates, banker's acceptances, bank notes, commercial bills, repurchase agreements, short-term government bonds and other money market vehicles;

    (b) securities issued by international financial organizations recognized by the CSRC (Appendix 2) such as government bonds, corporate bonds, convertible bonds, housing mortgage-backed securities and asset-backed securities;

    (c) ordinary shares, preference shares, global depositary receipts, American depositary receipts and real estate trust certificates traded on the securities markets of countries and regions (Appendix 3) that have signed with the CSRC memorandums of understanding regarding bilateral supervisory cooperation.

    (d) public funds registered with the securities regulatory authorities of countries or regions that have signed with the CSRC memorandums of understanding regarding bilateral supervisory cooperation;

    (e) structured investment products linked with subject matters such as fixed income, equities, credits, commodity indexes, and funds; and

    (f) forward contracts, swaps and financial derivatives traded on overseas exchanges (Appendix 4) as recognized by the CSRC such as warrants, options and futures.

    "Banks" referred to in Item 1 of the preceding paragraph shall mean branches that Chinese commercial banks establish overseas or overseas banks that in the recent accounting year reach the rating scores (Appendix 5) of credit rating agencies recognized by the CSRC.

    (2) Unless otherwise provided for by the CSRC, funds and pool plans shall not be used for the following purposes:

    (a) to purchase real estate.

    (b) to purchase housing by mortgages and installment.

    (c) to purchase precious metals or warrants representing precious metals.

    (d) to purchase physical commodities.

    (e) to lend cash for the purposes other than such temporary ones as payment for redemption and trading settlement, and the cash lent shall not exceed 10% of the net asset value of the fund or pool plan.

    (f) to purchase securities by using financing with the exception of financial derivative investment.

    (g) to participate in short selling without holding basic assets.

    (h) to engage in securities underwriting business.

    (i) other acts prohibited by the CSRC.

    (3) domestic institutional investors and investment consultants shall not conduct the following acts:

    (a) to treat different clients or different investment portfolios unfairly.

    (b) to disclose client information to the third party, unless otherwise provided for by laws and regulations.

    (c) other acts as prohibited by the CSRC.

    (4) Investment Proportion Limitations

    (a) The deposit of the same bank held by a single fund and pool plan shall not exceed 20% of net value of said fund and pool plan. With regard to the deposit in the custody account of the fund or pool plan, the abovementioned limitation may not apply.

    (b) The market of such securities issued by the same organization (excluding governments and international financial organizations) as are held by a single fund or pool plan shall not exceed 10% of the net value of said fund and pool plan. Index funds may not be subject to the abovementioned limitation.

    (c) Such securities assets traded on securities exchanges of countries and regions other than those that have signed with the CSRC memorandums of understanding regarding bilateral supervisory cooperation as are held by a single fund and pool plan shall not exceed 10% of the net asset value of said fund and pool plan, among which, the securities assets of any country or region held by said fund and pool plan shall not exceed 3% of the net value of assets thereof.

    (d) Funds and pool plans shall not be used to purchase securities so as to control or influence the organizations issuing said securities or the managements thereof. All the funds and pool plans managed by the same domestic institutional investor shall not hold 10% or more of the total securities issued with voting rights. Index funds may not be subject to the abovementioned limitation. The investment proportion limitation described in the preceding item shall take into account not only the total shares issued domestically and overseas by the same institution, but also the basic securities represented by global depository receipts and American depository receipts, and presumes the conversion of subscription warrants held.

    (e) The market value of non-current assets held by a single fund and pool plan shall not exceed 10% of net value of said fund and pool plan. Non-current assets as referred to in the preceding item shall mean securities with limited circulation prescribed by laws, fund contracts or pool plan contracts as well as other assets specified by the CSRC.

    (f) The market value of overseas funds held by a single fund and pool plan shall not exceed 10% of net value of said fund and pool plan. Holding of money market fund may not be subject to the abovementioned limitation.

    (g) Any overseas fund held by all the funds and pool plans managed by the same domestic institutional investors shall not exceed 20% of total shares of said overseas funds.

    Where the investment by funds and pool plans exceeds the limited proportion, such funds and pool plans shall reduce their positions by adopting reasonable commercial measures within thirty working days of such excess so as to meet the requirements regarding the investment proportion limitation.

    The CSRC may adjust the abovementioned proportion commensurate with the securities market development or the specific situation of funds or pool plans.

    (5) Fund of Funds

    (a) The investment proportion of each overseas fund shall not exceed 20% of the net value of the assets of the fund of funds. Where the fund of funds invests in an overseas umbrella fund, such umbrella fund shall be deemed as a fund.

    (b) The fund of funds shall not invest in the following funds:

    (i) other funds of funds;

    (ii) feeder funds; and

    (iii) baby funds of umbrella funds that invest in the abovementioned two funds.

    (c) Pool plans mainly investing in funds shall be subject to the abovementioned provisions.

    (6) Financial Derivative Investment

    Investment of funds and pool plans into derivatives shall be limited to portfolio hedging or effective management, shall not be used for speculation or scale-up trading, and shall strictly comply with the following provisions:

    (a) all exposures of financial derivatives of a single fund or pool plan shall not be higher than 100% of the net asset value of said fund or pool plan.

    (b) The total amount of initial margin, option investment payment or option premium collected and initial expenditure for the investment into OTC derivatives paid by a single fund or pool plan shall not be more than 10% of the net asset value of said fund or pool plan.

    (c) Where funds or pool plans intend to invest in OTC financial derivatives such as forward contracts and swaps, they shall meet the following requirements:

    (i) All the trading counterparts (excluding Chinese commercial banks) shall obtain the rating score of no less than that recognized by the CSRC.

    (ii) Trading counterparts shall conduct valuation of the trading at least each and every working day, and funds or pool plans may terminate the trading at the fair value at any time.

    (iii) The mark-to-market exposure of each trading counterpart shall not exceed 20% of the net asset value of funds or pool plans.

    (d) Where funds or pool plans intend to invest in derivatives, domestic institutional investors shall include risk management flows and prospective portfolio hedging and effective management strategies regarding the derivative investment by such funds or pool plans in their product raising applications submitted to the CSRC.

    (e) Domestic institutional investors shall, within sixty working days of the ending of accounting year for each fund and pool plan, submit to the CSRC annual reports regarding, among other things, derivative positions and the risk analysis.

    (f) Funds and pool plans shall not directly invest in derivatives in connection with physical commodities.

    (7) Funds and pool plans managed by domestic institutional investors may participate in securities lending transactions, and shall comply with the provisions as follows:

    (a) All the counterparts (excluding Chinese commercial banks) in the trading shall obtain rating scores given by credit rating agencies and recognized by the CSRC.

    (b) The mark-to-market system shall be adopted for the adjustment so as to ensure that the market value of the collateral is not lower than 102% of the market value of lent securities.

    (c) The debt side shall, within the trading period, pay funds or pool plans all the dividends, interests and bonuses from the lent securities in a timely manner. In the event of a breaching debt side, funds or pool plans shall have the right to keep and dispose of the collaterals pursuant to agreements and applicable laws so as to satisfy the claims.

    (d) Unless the CSRC provides otherwise, the collaterals can be the following financial instruments or products:

    (i) cash;

    (ii) deposit receipts;

    (iii) commercial notes;

    (iv) government bonds;

    (v) irrevocable letters of credit issued by Chinese commercial banks or overseas financial institutions (with the exception of trading counterparts or affiliates thereof) with the rating scores given by credit rating agencies of not lower than those recognized by the CSRC.

    (e) Funds and pool plans shall have the right to terminate securities lending transactions at any time and request the return of any or all the lent securities within the reasonable period in the context of business practice.

    (f) Domestic institutional investors shall be held liable for any losses incurred in the securities lending transactions participated in by funds or pool plans.

    (8) Funds and pool plans managed by domestic institutional investors may participate in repurchase and reverse repurchase transactions according to the normal market practice, and shall comply with the following provisions:

    (a) All the counterparts (excluding Chinese commercial banks) in repurchase transactions shall obtain rating scores given by credit rating agencies and recognized by the CSRC.

    (b) In the case of repurchase transactions, the mark-to-market system shall be adopted to adjust the asked yields so as to ensure the cash is not less than 102% of the market value of sold securities. In the event of a breaching buyer, funds or pool plans shall have the right to keep and dispose of the asked yields pursuant to agreements and applicable laws so as to satisfy the claims.

    (c) The buyers shall, within the repurchase period, pay funds or pool plans all the dividends, interests and bonuses from the sold securities in a timely manner.

    (d) In the case of reverse repurchase transactions, the mark-to-market system shall be adopted to adjust the purchased securities so as to ensure the market value of purchased securities is not less than 102% of the cash paid. In the event of a breaching seller, funds or pool plans shall have the right to keep and dispose of the purchases securities pursuant to agreements and applicable laws so as to satisfy the claims.

    (e) Domestic institutional investors shall be held liable for any losses incurred in the securities repurchase and reverse repurchase transactions participated in by funds or pool plans.

    (9) Where funds or pool plans intend to participate in securities lending transactions or repurchase transactions, either the market value of all the securities lent but not returned or the market value of all the securities sold but not repurchased shall not exceed 50% of the total assets of said funds or pool plans.

    With regard to the calculation of proportion limitation referred to in the preceding item, collaterals and cash held by funds or pool plans because of participating in securities lending transactions or repurchase transactions shall not be included in the total assets of such funds or pool plans.

    (10) Where funds or pool plans intend to participate in securities lending transactions, repurchase transactions or reverse repurchase transactions, domestic institutional investors shall set up appropriate internal control systems, operation procedures and exercise archive management pursuant to relevant provisions.

       6. Calculation of Expenses and Net Values

    (1) Funds of funds shall have reasonable arrangements regarding management fees and sale charges. Where an investment consultant is entrusted, investment consulting expenses may be included in the fund assets.

    (2) Funds and pool plans shall calculate and disclose their net asset values at lease once a week; where they intend to invest in derivatives, they shall calculate and disclose the same on each working day.

    (3) The net asset values of funds and pool plans shall be closed within two working days of the date of evaluation.

    (4) The net asset value of funds and pool plans shall be calculated and disclosed in major forex currencies such as Renminbi and US Dollar independently or concurrently.

    (5) Each and every buying and selling of assets of funds or pool plans shall be reflected in the recent calculation of net asset value.

    (6) Securities with limited circulation may be evaluated with reference to international accounting standards.

    (7) Derivatives may be evaluated with reference to international accounting standards.

    (8) Domestic institutional investors shall reasonably determine the access time for asset prices of open-ended funds, and expressly state such time in prospectuses and fund contracts.

    (9) Specific calculation methods for the net asset values and subscription and redemption prices of funds or pool plans shall be expressly stated in fund contracts, pool plan contracts and prospectuses, and decimal places shall be specified in such contracts and prospectuses.

    (10) Domestic institutional investors shall pay for the redemption within ten working days of the acceptance of effective redemption applications from holders, unless the CSRC provides otherwise.

    (11) Fund contracts can provide for the proportion of cash or government bonds held by funds, and special products as approved by the CSRC may not be subject to the proportion limitation prescribed in Article 28 of the Administrative Measures for the Operation of Securities Investment Funds.

    (12) Fund contracts of open-ended funds and close-ended funds shall provide for the times and proportions of annual distribution of fund incomes. Unless the CSRC provides otherwise, the limitation as prescribed in Article 35 of the Administrative Measures for the Operation of Securities Investment Funds may not apply to the distribution of fund incomes.

       7. Information Disclosure

    Fund information shall be disclosed in accordance with relevant provisions and the following requirements:

    (1) Such information may be disclosed in both Chinese and English, and the Chinese version shall prevail.

    (2) Such major forex currencies as Renminbi and US Dollar may be used to calculate and disclose the net value and relevant information. Where the currency conversion is involved, the source of exchange rate data shall be disclosed and consistency shall be maintained. In the event of changes, reasons for such changes shall be disclosed and explained. The exchange rate of Renminbi against major foreign exchanges shall be the middle price of Renminbi exchange rate published by People's Bank of China or organizations authorized thereby on the last evaluation day.

    (3) Where domestic institutional investors entrust investment consultants, they shall disclose such in the prospectuses of which the contents shall include but not limited to: the consultants' names, registered addresses, office addresses, legal representatives, dates of incorporation, assets management scales of the last accounting year, main contacts, telephone numbers, fax numbers, e-mail addresses and educational background, practicing experience, practicing qualifications and professional titles of major functionaries.

    (4) In the event of replacement of major functionaries of domestic institutional investors and investment consultants during the fund operation, domestic institutional investors believing that such events may have a significant influence on the fund investment shall make public announcements thereof in a timely manner and state the same in the updated prospectuses.

    (5) Custodians entrusting overseas custodians shall disclose relevant information about said overseas custodians in the prospectuses, the contents of such prospectuses shall include but not limited to: the name, registered address, office address, legal representative, date of incorporation, paid-in capital, custody asset scale and credit rating of the last accounting year.

    (6) Where funds invest in financial derivatives, they shall state in detail in fund contracts and prospectuses the kinds of derivatives to be invested in and basic characteristics thereof, the contemplated portfolio hedging and effective management strategies as well as the method and frequency thereof.

    (7) Where funds invest in overseas funds, they shall disclose the rate scales between such funds and overseas funds.

    (8) Where funds participate in securities lending, repurchase transactions and reverse repurchase transactions, they shall so disclose in fund contracts and prospectuses pursuant to relevant provisions.

    (9) Funds shall disclose in the prospectuses the following possible risks in the overseas market investment: overseas market risk, government regulation risk, political risk, liquidity risk, exchange rate risk, derivative risk, operation risk, accounting risk, taxation risk, trading settlement risk, legal risk, financial modeling risk, securities lending/repurchase/reverse repurchase risk, small cap/emerging market/high technology company stock risk, credit risk, interest rate risk, raw product risk, block trade risk and others. The contents of such disclosure shall include the definition, characteristics and possible consequences of the abovementioned risks.

    (10) Funds shall disclose the guidelines, procedures and archiving of proxy voting pursuant to relevant provisions.

    (11) Funds shall calculate and express the investment achievements according to Global Investment Performance Standards (GIPS).

    (12) Pool plans shall disclose information according to the abovementioned provisions.

       8. Investment consultants undertaking relevant business within China shall abide by applicable laws, regulations and provisions of China.

       9. Baby funds of umbrella funds shall comply with the Interim Measures and provisions of this Notice.

        10. This notice shall come into effect as of July 5, 2007.

      Appendix 1: Profiles of overseas investment consultants of qualified domestic institutional investors

    Appendix 2: International financial institutions recognized by the CSRC

    Appendix 3: Countries or regions that have signed with the CSRC memorandums of understanding regarding bilateral supervisory cooperation

    Appendix 4: Overseas exchanges recognized by the CSRC

    Appendix 5: Ratings give by credit rating agencies and recognized by the CSRC

 

   June 18, 2007

 

 

    

       Profiles of Overseas Investment Consultants of Qualified Domestic Institutional Investors

1. Applicant informationName of institution

 

Registered address

 

Business address

 

Post code

 

Tel

 

Fax

 

E-mail

 

Date of incorporation

 

Institution category

(please check)

Fund management companies

Securities companies

Other institutions (please enumerate)

Asset management scale by the end of last quarter (RMB100 million)

 

Securities investment funds

 

Collective asset management business

 

Targeted asset management business

 

Social security portfolio

 

Enterprise annuities

 

Investment consultants of qualified foreign institutional investors (QFII)

 

Other (please enumerate)

 

Total (RMB100 million)

 

Investment plan (can be written on another page)

 

Product name, raising method, scope of investment, investment strategy, comparative benchmark for investment, dealer, major expenses and charging mode, currencies to be used for pricing, subscription, redemption frequency, information disclosure method and frequency

 

Investment quota applied (USD100 million)

 

 

 

2. Profiles of applicants' persons in charge of overseas securities investment

 

 

 

Investment persons in charge

 

Personal information

Name, gender, date of birth, place of birth, nationality, ID certificate and serial number, major social relationship

 

 

Main practicing experience (beginning with the most recent experience)

Beginning with the most recent practicing experience and being accurate to the month, the contents include: time, name of institution, country or region, city, position, duties and responsibilities, main achievements

 

 

Educational background (beginning with the most recent experience)

Beginning with the most recent practicing experience and being accurate to the month, the contents include: time, name of institution, country or region, city, full-time basis or part-time basis, major, degree, graduate certificate or training certificate obtained

 

 

Professional title

Time, full name of the title, name and address of the certification agency

Marketing head (the same contents as above)

 

Operation head (the same contents as above)

 

Compliance head (the same contents as above)

 

3. Applicant's acknowledgement

 

The applicant's Board of Directors hereby acknowledges and warrants that this application contains no false representations, misleading statements or material omissions, and shall be liable for the authenticity, accuracy and completeness of the contents.

 

 

Signature of the legal representative of the applicant or authorized representative thereof

 

Appendix 1:Profiles of Overseas Investment Consultants of Qualified Domestic Institutional Investors

1. Basic InformationName of institution

 

Date of incorporation

 

Registered address

 

Mail address

 

Main shareholders and partners

 

Contact

 

Tel

 

Fax

 

e-mail

 

Website of the company

 

Approval/registration no. of the overseas supervisory authority

 

 

    机构类别

机构组织形式

投资管理机构

公司

投资银行

合伙人

商业银行

有限责任合伙人

保险公司

有限责任公司

其他机构(请说明)

个人

 

 

 

 

会计年度截止月份

        Institution category

Form of organization

Investment management institutions

Companies

Investment banks

Partners

Commercial banks

Limited liability partners

Issuance companies

Limited liability companies

Other institutions (please enumerate)

Individuals

 

 

 

 

Month when an accounting year ends

 

     员工数

平均行业经验

投资研究人员

               

 

               

 

市场营销人员

 

 

 

 

其他人员

 

 

 

 

合计

 

 

 

 

 

 

 

 

 

 

 

资产管理规模(亿美元)

 

管理账户总数

        有能力实施投资策略

         (Discretionary)

       投资策略实施能力受限

         (Non-discretionary)

 

合计

        Number of staff members

Average industry experience

Investment researchers

 

 

 

 

Marketing staff

 

 

 

 

Other

 

 

 

 

Total

 

 

 

 

 

 

 

 

 

 

 

Asset management scale (USD100 million)

 

Total number of managed accounts

(Discretionary) (Non-discretionary)

Total

 

 

 

 

                   

 

    客户类别

               

客户总数

              

资产管理规模(亿美元)

共同基金

 

 

 

 

养老金

 

 

 

 

寿险公司

 

 

 

 

非寿险公司

 

 

 

 

基金会

 

 

 

 

捐赠基金

 

 

 

 

银行

 

 

 

 

公司客户

 

 

 

 

政府或官方组织

 

 

 

 

对冲基金

 

 

 

 

高净资产个人客户

 

 

 

 

合计

        Client category

 

Total number of clients

 

Asset management scale (USD100 million)

Mutual funds

 

 

 

 

Pensions

 

 

 

 

Life issuance companies

 

 

 

 

Non-life issuance companies

 

 

 

 

Foundations

 

 

 

 

Endowment funds

 

 

 

 

Banks

 

 

 

 

Corporate clients

 

 

 

 

Governments or official organizations

 

 

 

 

Hedge funds

 

 

 

 

High net asset value clients

 

 

 

 

Total

 

     收费方式

              

资产管理规模(亿美元)

           

占比(%)

固定费率

 

 

 

 

固定费用

 

 

 

 

投资收益分成

 

 

 

 

佣金

 

 

 

 

小时收费

 

 

 

 

其他(请说明)

 

 

 

 

合计

        Charging mode

 

Asset management scale (USD100 million)

 

Proportion (%)

Fixes rate

 

 

 

 

Fixes expenses

 

 

 

 

Distribution of investment income

 

 

 

 

Commission

 

 

 

 

Charge per hour

 

 

 

 

Other (please enumerate)

 

 

 

 

Total

 

    

二、投资负责人基本情况

 

投资负责人

个人基本信息

               

姓名、性别、出生年月日、出生地、国籍、身份证件及号码

 

 

 

 

 

主要从业经历(从最近的经历开始)

 

时间起止到年月、机构名称、地址、担任职位、岗位职责、主要业绩

 

 

 

 

 

教育背景(从最近的经历开始)

 

时间起止到年月、机构名称、地址、全职或兼职、专业方向、取得的学位、毕业证书、培训证书等

 

 

 

 

 

专业职称

 

时间、职称全名、颁发机构名称、地址

 

Acknowledgement: The applicant’s Board of Directors hereby acknowledges and warrants that this application contains no false representations, misleading statements or material omissions, and shall be liable for the authenticity, accuracy and completeness of the contents.

     法定代表人姓名及其签名        

       2. Profile of Investment Heads

Investment heads

Personal information

 

Name, gender, date of birth, place of birth, nationality, ID certificate and serial number

 

 

 

 

 

Main practicing experience (beginning with the most recent one)

 

Name of institution, address, position, duties and responsibilities, main achievements, being accurate to the month

 

 

 

 

 

Educational background (beginning with the most recent one)

 

Name of institution, address, full-time basis or part-time basis, major, degree, graduate certificate and trading certificate, being accurate to the month

 

 

 

 

 

Professional titles

 

Time, the full name of professional title, name and address of the certification agency

 

Acknowledgement: The applicant's Board of Directors hereby acknowledges and warrants that this application contains no false representations, misleading statements or material omissions,and  hall be liable for the authenticity, accuracy and completeness of the contents.

Name and signature of the legal representative

                   

 

                   Appendix 2:International Financial Institutions Recognized by the CSRC

1

Government National Mortgage Association(GinnieMae)

2

Tennessee Valley Authority (TVA)

3

Federal Farm Credit System

4

Federal Home Loan Bank System

5

Federal National Mortgage Association(FannieMae)

6

Federal Home Loan Bank Corporation(FreddieMac)

7

Student Loan Marketing Association(SallieMae)

8

European Investment Bank

9

European Bank for Reconstruction and Development

10

International Finance Corporation

11

International Monetary Fund

12

Euratom

13

The Asian Development Bank

14

Council of Europe

15

Eurofima

16

African Development Bank

17

International Bank for Reconstruction and Development(The World Bank)

18

The Inter American Development Bank

19

European Union

20

European Central Bank

 

   Appendix 3:Countries or Regions That Have Signed with the CSRC Memorandums of Understanding Regarding Bilateral Supervisory Cooperation

    

- By May 31, 2007

Continent

Country or Region

North America

The United States

Canada

South America

Brazil

Argentina

Asia

Hong Kong

Singapore

Japan

Malaysia

South Korea

Indonesia

Vietnam

India

Jordan

United Arab Emirates

Thailand

Europe

England

Ukraine

France

Luxemburg

Germany

Italy

Holland

Belgium

Switzerland

Portugal

Romania

Turkey

Norway

Africa

Egypt

South Africa

Nigeria

Oceania

Australia

New Zealand

 

                  Appendix 4:Overseas Exchanges Recognized by the CSRC

    

North America

The United States

American Stock Exchange

Chicago Board of Options Exchange (CBOE)

Chicago Board of Trade (CBOT)

Chicago Mercantile Exchange (CME)

New York Futures Exchange

New York Mercantile Exchange

New York Board of Trade

Pacific Stock Exchange

Philadelphia Board of Trade (PBOT)

Canada

The Montreal Exchange

The Toronto Futures Exchange

South America

 

Brazil

Bolsa Brasileira de Futuros

Bolsa de Mercadorias & Futuros

Bolsa de Valoresde Rio de Janeiro

Asia

Hong Kong

Hong Kong Futures Exchange Limited

Singapore

Singapore International Monetary Exchange Limited

Japan

Osaka Securities Exchange

The Tokyo International Financial Futures Exchange

Tokyo Stock Exchange

South Korea

Korean Exchange Inc.(KRX)

Europe

England

London International Financial Futures and Options Exchange(LIFFE)

France

Euronext Paris

Germany

EUREX

Italy

Milan Italiano Futures Exchange

Holland

AEX Options & Future Exchange

EOE-Optiebeurs (European Options Exchange)

Euronext Amsterdam

Financiele Termijnmarkt Amsterdan N.V.

Belgium

Belfox CV(Belgium Futures and Options Exchange)

Euronext Brussels

Switzerland

EUREX

Sweden

OM Stockholm Fondkommission AB

Portugal

Bosa de Derivatives de Porto

Denmark

Futop(Copenhagen Stock Exchange)

Guarantee Fund for Danish Options and Futures

Kobenhavus Fondsbors(Copenhagen Stock Exchange)

Austria

Osterreichische Termin-und Option Borse(the Austrian Options and Futures Exchange)

Finland

Helsinki Stock Exchange

Oy Suomen Optioporssi(Finnish Options Exchange)

Suomen Optionmeklarit(Finnish Options Market)

Norway

Oslo Stock Exchange

Oceania

Australia

Australian Financial Futures Market

Syndey Futures Exhange

New Zealand

New Zealand Futures and Options Exchange

 

          Appendix 5:Ratings Given by Credit Rating Agencies and Recognized by the CSRC

    

Credit Rating Agencies

Short-Term Debt

Long-Term Debt

Moody's Investors Service

P-1

A2

Standard & Poor's

A-1(Low)

A

Fitch Ratings

F1

A

Dominion Bond Rating Service Limited

R-1(low)

A