英大基金撤销监事会 未来或成大势所趋

Core Viewpoint - Yingda Fund has become the first public fund company in China to abolish its supervisory board, indicating a trend towards internal institutional optimization within the industry, driven by cost reduction and efficiency improvement [1][2][5] Group 1: Company Actions - Yingda Fund announced the dissolution of its supervisory board and supervisors, following the decision of its sole shareholder, State Grid Yingda International Holdings Group [1][2] - The company will now have its Board of Directors' Risk Management and Audit Committee perform the functions previously held by the supervisory board [1][2] Group 2: Legal Framework - The new Company Law, effective from July 1, 2024, allows state-owned sole proprietorships to establish an audit committee within the board to exercise the powers of a supervisory board, thus eliminating the need for a supervisory board [2][4] - Other types of companies, including limited liability companies and joint-stock companies, can also opt to set up an audit committee instead of a supervisory board according to their articles of association [2][4] Group 3: Industry Implications - The move to abolish the supervisory board is seen as a way to reduce operational costs and streamline processes within fund companies [3][5] - Legal experts suggest that the functions of the supervisory board can be effectively managed by the audit committee, leading to a reduction in institutional redundancy [3][5] - There is an expectation that more fund companies will follow suit, particularly those with similar ownership structures, as the trend of abolishing supervisory boards gains momentum in the industry [5]