China Securities Regulatory Commission, Contents and Formats for Information Disclosure of Securities Investment Funds Guidelines (No.4) - Contents and Format of Quarterly Reports

Issued: June 15 2004
Effective: July 1 2004
Applicability: Where a fund of which shares of the fund are publicly sold, and record filing procedures are lawfully carried out, within the People's Republic of China in accordance with the Securities Investment Fund Law, the fund managers shall compile and disclose quarterly reports in accordance with the requirements of the Guidelines (Article 2).

Main contents: The Guidelines specify the minimum requirements for information disclosure in the quarterly report of a fund (Article 4). It requires the fund manager to disclose in the report at least the main accounting data and financial indicators for the current reporting period, including the net earnings of the fund for the current period, net earnings per share for the current period, net asset value of the fund at the end of the period and net value per share at the end of the period (Article 12). The quarterly report shall also include charts comparing the growth rate of the net value per share with the base rate of return for the current reporting period as well as their fluctuations (Article 13). For an open-ended fund, variations in fund shares shall also be specified (Article 18). The quarterly report of a fund shall be compiled and announced on designated media within 15 working days after the end of each quarter (Article 6).
Related legislation: PRC Securities Investment Fund Law, Oct 28 2003, CLP 2003 No.10 p43 and Administration of Information Disclosure of Securities Investment Funds Procedures, Jun 8 2004, CLP 2004 No.6 p7