Summary:
Asset management business refers to financial services in which banks, trusts, securities, funds, futures, insurance asset management institutions, financial asset investment companies and other financial institutions accept the entrustment of investors to invest and manage the entrusted investors' properties. Financial institutions perform the obligations of good faith, diligence and due diligence for the benefit of the client and charge corresponding management fees, and the client bears the investment risks and obtains benefits. Financial institutions may agree in the contract with the client to charge a reasonable performance remuneration. The performance remuneration is included in the management fee and must be in one-to-one correspondence with products and settled one by one. Different products must not be used in conjunction with each other.
Asset management business is off-balance sheet business of financial institutions, and financial institutions shall not promise to guarantee principal and income when conducting asset management business. In the event of payment difficulties, financial institutions shall not advance payment in any form. Financial institutions are not allowed to carry out asset management business on the balance sheet.
Private investment funds shall be governed by the special laws and administrative regulations for private investment funds. These Opinions shall apply to those that are not clearly stipulated in the special laws and administrative regulations on private investment funds. The relevant provisions on venture capital funds and government-funded industry investment funds shall be formulated separately.