CAJ | 학술논문

依托信托原理建立起来的证券投资基金，因基金财产所有权与经营权的分离而产生了委托一代理问题。如果得不到有效监督，基金管理人就可能滥用经营权而损害基金持有人利益。在法律性质上，我国宜将证券投资基金界定为独立的组织机构。在法律关系模式的选择上，建议立法取消共同受托的规定，剪断管理人和托管人之间的利益关联，在持有人和管理人、托管人之间分别通过独立的信托契约建立直接的信托关系。
의탁신탁원리건립기래적증권투자기금，인기금재산소유권여경영권적분리이산생료위탁일대리문제。여과득불도유효감독，기금관리인취가능람용경영권이손해기금지유인이익。재법률성질상，아국의장증권투자기금계정위독립적조직궤구。재법률관계모식적선택상，건의입법취소공동수탁적규정，전단관리인화탁관인지간적이익관련，재지유인화관리인、탁관인지간분별통과독립적신탁계약건립직접적신탁관계。
Securities investment fund which is established by trust principle, has the request - proxy question because of the fund＇s separation between property ownership and rights of management. Without valid supervision, the fund manager may damage fund holder＇s benefits by abusing rights of management. In the legal nature, we should locate the securities investment fund in the form of investment organization. In the legal relationship pattern, we suggest that the legislation should abolish the ＂Common trustee＂ pattern, cut the connection between manager and fund trustee, and establish direct trust relationship between holder and manager, and between holder and trustee by independent trust contract.