Property of the Fund
(I) Total asset value of the fund
Total asset value of the fund refers to the sum of marketable securities purchased with the proceeds raised from offering of the fund, principals and interests of bank deposits, amount receivable for subscription of the fund and the value formed by other investments.
(II) NAV of the fund
NAV of the fund is the value of the fund property less the fund liabilities.
(III) Accounts of fund property
The Fund Custodian shall open joint securities accounts on behalf of the Fund in the joint name of the Fund and the Fund Custodian, and open bank deposit accounts in name of the Fund with the custody bank, which would be reported to CSRC for filing. The Fund Custodian shall open the account of settlement provisions in its own name with China Securities Depository and Clearing Corporation for handling fund settlement businesses relating to the securities investments on stock exchanges for all the funds including this Fund under Fund Custodian’s custody. The accounts of the Fund shall be segregated from the owned asset accounts of the Fund Manager, the Fund Custodian, the Fund sales agencies, and the Registrar, as well as the property accounts of other funds.
(IV) Disposal of the fund property
1. The Fund property shall be independent of the owned property of the Fund Manager and the Fund Custodian. The Fund Manager and the Fund Custodian shall not include the property of the Fund in their own properties.
2. The property and incomes acquired by the Fund Manager and the Fund Custodian arising from the management and use of the Fund property shall be included in the property of the Fund.
3. In case of liquidation of the Fund Manager and the Fund Custodian due to dissolution by force of law, revocation by force of law or bankruptcy declared by force of law, the property of the Fund does not account for the property to be liquidated.
4. The credit of the fund property should not set off against the debts of the owned property of the Fund Manager and the Fund Custodian; and the credits and the debts of the property of different funds should not set off against each other.
5. Liabilities assumed other than as a result of the property of the Fund itself shall not be enforced against the property of the Fund.
6. Unless otherwise disposed of by laws and regulations, the Fund Contract and other provisions, the fund property shall not be disposed of.