Everbright's Fund-of-Funds Enters "Red List of Credible Marketized Fund-of-Funds" of China Equity Investment Fund Managers
On 28 May 2020, the Venture Capital Professional Committee of China Science and Technology Finance Promotion Association and the China Fund-of-Funds Alliance jointly announced the first batch of Red List of Credible China equity investment fund managers. Leveraging its proven investment track record and outstanding credit record, Everbright has been included in the “Red List of Credible Marketized Fund-of-Funds”, as one of the seven marketized fund-of-funds in the first batch of inclusions.
The Credibility Red List system of the Chinese equity investment industry was developed by the Venture Capital Professional Committee of China Science and Technology Finance Promotion Association and the China Fund-of-Funds Alliance based on “Several Opinions of the State Council on Promoting the Sustainable and Healthy Development of Venture Capital Investment”, as well as the relevant regulations and essences of the National Development and Reform Commission, the Ministry of Science & Technology and the China Securities Regulatory Commission. It was first launched in April 2020. It aims to regulate the private equity fund business, protect the legal rights of investors, build a fair, transparent assessment system and mechanism, and help the healthy development of the private equity fund industry.
Established in 2000, the Venture Capital Professional Committee of China Science and Technology Finance Promotion Association is the first national investment association launched by the Ministry of Science and Technology and approved by the Ministry of Civil Affairs. The China Fund-of-Funds Alliance is the first fund-of-funds industry alliance launched by the Torch High Technology Industry Development Center, the Ministry of Science & Technology, Tsinghua Holdings and some marketized fund-of-funds in China.