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本文对证券投资基金的治理机制进行了分析,认为基金契约的签订、费率的确定、费率的计提是导致基金管理人侵害基金持有人利益的本质缺陷,而现有的基金托管人制度、基金持有人大会、独立董事制度和证券市场环境建设,没有真正有效的保护到基金持有人利益。对此,笔者另辟蹊径,分别从制度环境、法律环境和市场环境方面,紧紧与契约有机结合,提出了相应的改善策略,因势利导进行环境建设,引导基金规范发展,为完善基金治理提供了新思维。
This paper analyzes the governance mechanism of securities investment funds, and concludes that the signing of the fund contract, the determination of the rates and the accrual of rates are the essential defects that cause the fund managers to infringe the interests of the fund holders. However, the existing fund trustees The system, the fund holder meeting, the independent director system and the construction of securities market environment have no real and effective protection to the benefit of the fund holders. In this regard, I find another way, from the institutional environment, the legal environment and the market environment, closely integrated with the contract, put forward the corresponding improvement strategy, make the best use of environmental construction, and guide the development of standardized funds, to improve the governance of funds provides a new way of thinking .