Some trust companies recently received the "Notice on Adjusting the Classification of Trust Business (Draft for Comments)" issued by the regulatory authorities, which listed the reform framework that the trust industry is about to usher in.
According to the "Draft for Soliciting Opinions", trust business will be divided into three categories: asset management trust, asset service trust, and public welfare/charity trust. Among them, there are four categories under the asset management trust, including fixed income asset management trust, equity asset management trust, commodity and financial derivative asset management trust; there are four categories under the asset management trust, administrative management trust, asset securitization trust, risk disposal trust and wealth management trust, and there are still detailed categories under these four categories.
It is worth noting that financing trusts did not appear in the new classified projects of the Draft for Comments.
According to the definition of the China Trust Industry Association, financing trust business refers to the financing needs of the capital demand party as the driving factor and the starting point of the business. The purpose of the trust is mainly to seek fixed returns of trust assets. Trust assets are mainly used for specific projects designated in advance before the establishment of the trust. In recent years, supervision has continuously greatly reduced the scale of financing trusts, and financing trusts have become a restricted type of business, and this classification also reflects this point.
According to the current development situation, asset management trust: covers the current investment and financing business trusts, and provides asset allocation and asset management for customers. At this stage, it mainly involves fund trusts, and may involve various forms of asset trust management in the future.
Asset Service Trust can cover services derived from various types of customers' assets and service trusts formed. This type of business is in line with the origin of the trust, which is to be trusted by others and be loyal to others through the trust structure. The assets of the customer are entrusted by the trust company and its associated external service institutions.
Public Welfare/Charity Trust is a trust established for public welfare undertakings and assistance to specific groups of people.
This classification is mainly to promote the trust industry to return to its main business, continuously reduce the scale of channel-type businesses and financing-type businesses, improve the active management capabilities of trust companies, continuously promote the asset management capabilities of trust companies, give full play to the advantages of the trust system to improve the level of financial services, and use the characteristics of independent operation and independent custody of trust assets to participate more in socialist public welfare undertakings.
Asset Management In the context of continuous compression of financing, the active management level of investment business of trust companies will be improved, the compliance operation of trust companies will be promoted, the scale and proportion of standardized products will be continuously improved, and the main business of sustainable development of the industry will be guided to further accelerate the return to the original source.
This article is from Jinle Asset Management
