论证券投资基金的法律性质

On the Legal Nature of Securities Investment Funds

证券投资基金作为一种现代投资工具,其运作不能脱离制度的基本法理。证券投资基金是信托关系,但它对信托基本原理不只是单纯的遵循,同时更是一种具体运用和扩展。信托制度已由民事关系的"理财"制度向商事关系的"生财"制度转变,证券投资基金正是这种关系的体现。

Securities Investment Funds （SIFs） play the role of foremost institutional investors in the securities market. SIFs bear various characters of trust relationship and give full consideration to its ideas. Trust system has turn to some characteristic of commercial relationship and SIFs should be a best exemplification.