公司型基金

第一章探讨公司型基金法律概念问题。

Chapter one discusses the legal concept of corporate fund .

公司型基金则以美国为代表。

The corporate fund is represented in the United States .

第六部分通过对比公司型基金和契约型基金以及开放式基金和封闭式基金，从而得出了适合我国发展的房地产投资信托基金（REITs）的模式。

Part six compares corporate funds and contractual funds , open-end funds and closed-end funds in detail , and concludes on an approachable mode of REITs in China .

公司型基金与契约型基金是两种基金治理模式。

The corporation fund and contract fund are two governance fund modes .

证券投资基金（简称基金）作为一种投资组织制度，依据组织形态的不同分为契约型基金和公司型基金，无论何种形态的基金均为信托关系的反映。

The securities investment fund is an invested organized system .

因此，鉴于公司型基金在内部监督上的有效性，我国有必要引入公司型基金。

In a word , it is necessary for us to recommend Corporate Fund .

相应地，公司型基金也先后经历了产生、发展、取缔到重新提到历史日程的发展过程。

Accordingly , the corporate fund has experienced appearance , development , banning and re-appearance .

第二，公司型基金治理结构优于契约型基金，可以弥补契约型基金治理的不足。

Second , the governance structure of corporation fund is superior to that of contractual fund .

发达的基金行业基本上都是以公司型基金为主的格局。

Basically , all the developed fund markets take corporate fund as the main pattern of fund .

从基金组织形式划分，基金分为公司型基金和契约型基金。

From the organization information , securities investment funds includes two styles : firms funds and contracts funds .

主要内容包括投资基金的分类以及公司型基金与契约型基金的区别。

The main contents include the classification of investment funds and the differences between contractual funds and company-oriented funds .

第3章节提出优先发展公司型基金积极影响和重要意义。

Chapter 3 points out the importance for developing company-oriented funds combined with the current situation in the province .

公司型基金根据公司法构建而成，基金本身就是公司，基金持有人则是基金的股东。

Corporate funds are formed in accordance with the Company Act and the fund holders are shareholders at the same time .

第三章探讨公司型基金治理结构法律问题，这是本文的重点内容，也是公司型基金立法的主要内容。

Chapter three is the most important part of the whole thesis , which analyzes the ruling structure of the corporate fund .

基金的主要分类有公募基金和私募基金，公司型基金、契约型基金和有限合伙型基金。

The main kinds of fund are public fund and private fund , corporate fund , contract fund and limited partnership fund .

中国目前缺乏有实力的机构投资者和普通合伙人，公司型基金难以找到必需的发起人；

It is difficult to find the necessary organiger for corporate fund because the capable institution investor and common partner are absent in China .

基于此，公司型基金应该成为我国未来基金业发展的主要政策取向。

According to this , the corporate fund should become the main policy alternative in the development of future fund industry of our country .

第二章是对公司型基金法律关系的探讨，本文认为公司型基金的法律关系不应简单定性质为信托或代理，而应分层考虑。

The thesis puts forward that legal relationship of corporate fund should be considered by levels instead of being located simply as trust or agent .

其次，论述了公司型基金中的董事会及独立董事制度与传统基金托管制度的差异和制度优势。

Second , discuss the system of director board and independent directors as well as their institutional advantages and difference comparing with fund of corporate type .

在立法框架上，我国应以信托法理念为基础，从公司型基金设立、运作、监管等方面构建法律制度。

At the aspect of legislative configuration , we should build the legal system of corporate fund on the basis of the concept of entrust law .

公司型基金由于借鉴了公司治理结构，多了一个基金公司架构，并通过独立董事制度使之成为投资人利益的实体代表。

With reference to the governance structure in corporations , Corporate Fund creates a Fund Corporation which becomes the substantive representative of the benefit of investors .

从世界流行的两种证券投资基金模式来看，无论是公司型基金还是契约型基金，其自身都设有保护基金投资人的内部机制，两种保护模式各有优劣。

Both the contractual type and the corporate type have their own internal mechanism to protect their investors . Either of them has its advantages and disadvantages .

笔者通过对研究界所存在的两种较为普遍的观点进行分析，从而对公司型基金定义，并通过对公司型基金的特点剖析，来体现公司型基金优势所在。

Through analyzing two popular theories to delimit corporate fund , the author defines corporate fund and shows advantages of corporate fund by analyzing characteristics of it .

第2章节阐述了公司型基金在国外产生与发展的实践历程，对其进行效应分析，试图获取发展公司型基金的经验。

Chapter 2 introduces the generation and development progress of company-oriented fund in foreign countries with the effect analysis to try to acquire the experience of its development .

可以说，公司型基金制度的实质即在于投资者通过出资结成独立法律实体制衡基金管理人，并通过独立的专业群体实施对基金管理人的监督。

However , the difference is the legal entity under statutory type is able to carry on supervision more often and to a deeper extent for structural reasons .

同时，公司型基金以公司法理及信托法理为基础，兼有两者所长，具有较强的活力，我国也应适时引进公司型的基金模式。

At the same time , corporate-type fund is on the basis of theory of corporate law and trust law , with the two advantages and strong vitality .

公司型基金具有隐性的契约关系和显化的公司治理关系，作为契约第三方的独立董事拥有更多的剩余监督权；

Corporation fund are based on the recessive contractual relations and apparent company relations , so the independency director as the third party has more residual control rights .

改进基金托管人的选择办法，引入公司型基金并尽快完善基金管理法是解决问题的当务之急。

It is urgent to improve the current procedures for choosing fund trustees , introduce the company-oriented fund and promptly make the legislation perfect so as to solve the problems immediately .

而基金内部对相关方的权利义务的不同设计形成了当前世界基金业的两种主流结构：契约型和公司型基金。

The Securities Investment Fund is divided into two main forms : Contractual Fund and Corporate Fund , based on how to design the relation of right and obligation inside the Fund .

作者在文中提出，我国应采取统一立法方式，不分投资对象统一立法，将公司型基金与契约型基金统一纳入《投资基金立法》中。

The author points out that we should construct the system of the corporate fund clearly in the Investment Fund Law in uniform model , not according to the investment objection of fund .