基金契约

在证券投资基金的风格研究中，我们发现基金的实际投资风格和基金契约中所描述的投资风格有很大差异。

, In the investment style research of the fund , we discover the actual investment style and the style in fund contracts have the big difference .

为了激励基金经理能按照最大化基金投资者的效用行动，减少代理问题，人们设计了各种类型的基金契约。

In order to motivate mutual fund manager to act in term of maximizing the utility of mutual fund investor , and decrease agency problem , people have devised various kinds of mutual fund contracts .

基金契约中代理问题存在性研究

A Study of the Existence of Agency Problem in Mutual Fund Contract

本章对基金契约进行了法律分析。

An economic analysis of mutual fund .

本文以一个最常用的线性基金契约为例，讨论分析了其中代理问题的存在性。

In this paper , we , taking a linear mutual fund contract in common use for example , discuss and analyse the existence of agency problem .

基金契约是基金发起人，或者基金发起人委托的基金主要发起人依法律规定与基金管理人、托管人订立的规范证券投资基金运用的契约。

The contract of Fund is a kind of contract which is made by the fund sponsor , or funds entrusted to sponsor the main sponsor of the Fund in accordance with the law and the fund managers , trustees , to standardize the use of securities investment fund contract .

对此，要规范、约束契约主体行为，缩小契约缺口，构建第三方强制履约体系，建立声誉机制，促进基金契约自我履行。

Therefore we should control and restrict the managers ' and trustees ' behavior , reduce gap of the investment fund contract , construct the third sides of compulsive performing system of the investment fund contract , and build the reputation mechanism to promote the self-performing of investment fund contract .

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 .

在证券投资基金的契约&受托人模式中，这种对管理人的监督制衡责任一般由基金托管人来承担。

In the contract-trustee mode of investment fund , the supervising and balancing responsibility is taken by fund trustee .

投资基金有契约型，信托型和公司型三种组织形式。

There are three types of investment fund , the contractual type , the trust type , the corporate type .

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 .

第二部分包括第二、三章，重点研究公司型基金与契约型基金在现实中的几种模式，包括美国的共同基金以及英国、日本、香港的信托基金。

The second part , including the second and third chapter , puts emphasis on the research of the several modes existed in the true life of corporation fund and contract fund , involves the mutual fund of USA and trust fund of England , Japan and Hong Kong .

正是在这一思想的指导下，再加上我国的证券投资基金又为契约型基金，因此笔者决定对这样一个题目作一点阐述。

Just at the guide of such idea , and also the contract fund is our main model , the author decided to finish the article .

尤其令人不快的是，人们发现，围绕承诺不断增值的养老与退休基金的社会契约，不是一个指望得了的可执行契约。

Especially traumatic is the way people found out that the social contract around pensions and retirement funds , promising ever-rising value , is not an enforce-able contract they can count on .

阐述了基金经理人激励契约模型的假设，分析了基金经理人的投资决策和委托人设计激励契约的机制。

The assumptions of fund managers ′ incentive contract model are first expounded , and the investment decisions of agents and the design of principal ′ s incentive contract are in detail analyzed in this paper .

对中国基金业困境的契约理论思考

Thinking of Contracts Theory on Trouble of China Investment Fund Industry

获得种子投资的对冲基金有点像契约奴工。

The seeded enter into a relationship that operates like indentured servitude Lite .

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 .

从这个意义上而言，基金也是一种契约关系，在基金这种特殊的组织中，各相关人之间的关系体现出了一种特殊契约关系。

In this particular organization of funds , the relationship between the relevant reflects a special contractual relationship .

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 .

通过实证分析，本人认为证券投资基金由于受到基金契约、市场制度等诸多因素的影响，其交易行为表现出趋同性的特征，因而对于股市助涨助跌的双重作用是存在的。

From the empirical analysis , I understand that since the Security Investment Fund is under the impact of various factors , its transaction behavior inclines to be identical .

在信托制基金中，信托基金契约的立法模式应以简化、单纯、明确为宜，同时不妨采取董事会制度。

As for the trust funds , its legislative mode had better be simple , uniform and definite , and at the same time , the system of board of directors should be adopted .

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 .

投资基金的组织模式有公司型投资基金和契约型投资基金两种。

There have tow legal structures : Corporation Investment Fund and Contract Investment Fund .

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 .

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 .

本着诚信的契约风格，投资者遵照契约进行基金的购买与赎回，同样基金管理者也应该按照基金契约来履行自身的义务，严格遵照契约的相关条款对基金进行合法依规的运作。

Investors purchase and redeem fund according to the contract , In response fund managers should also fulfill their own obligations strictly in accordance with the relevant contract of fund and the regulations .

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 .

基金投资者与基金经理之间的关系是一种委托代理关系，这种委托代理关系集中体现在基金契约中。

The relationship of mutual fund investor and mutual fund manager is a principal-agent relationship , which is mainly embodied in the mutual fund contract .