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Article 55 The implications of the following terms in these Measures are:
- "Fund unit" means the voucher the fund sponsor issues to unspecified investors indicating that the holder has asset ownership and right of distribution of benefits of the fund and other related rights and assumes corresponding obligations.
- "An open fund" means a fund that the total amount of its fund issuance is not fixed, that the total number of fund units increases or decreases from time to time, that investors may bid or redeem the fund unit in accordance with the offering of the fund at business sites prescribed by the State.
- "A closed fund" means a fund the total amount of its issuance is predetermined, the total number of fund units during closure remains unchanged and investors may transfer or buy and sell its fund units through securities markets after the fund is listed.
- "Total value of fund assets" includes the aggregate of the value of all types of securities purchased by the fund, the principal and interests of bank deposits as well as the value formed by other investments.
- "Net value of fund assets" means the value of the total value of fund assets minus the expenses which may be deducted from the fund assets pursuant to relevant state provisions
- "Net value of fund assets per unit" means the value of the net value of fund assets on the date of calculation divided by the total number of fund units on the date of calculation
- "Returns on the fund" include dividends, share interests, bond interests acquired through fund investment, difference in the buying and selling price of securities, interests from deposits as well as other revenues.
- "Net returns on the fund" mean the balance of returns on the fund minus the expenses which may be deducted from the returns on the fund pursuant to relevant state provisions.
Article 56 CSSCC shall organize the implementation of these Measures.
Article 57 These Measures shall enter into force as of the date of promulgation. |
