[make it clear that fund investment can provide private investment advice to abide by the principles of "5% and 10%". Today, the Securities and Futures Regulatory Commission (CSRC) publicly solicited opinions on the regulations on the Management of Investment Consulting Business of publicly raised Securities Investment funds (draft for soliciting opinions). Among them, those who provide investment advice to private equity funds Four basic requirements are put forward: first, the market value of a single private equity fund held by a single client shall not be more than 5% of the market value of the assets entrusted by the client, and those who hold the fund products and the products of managers in the fund, calculated on the basis of the proportion of private equity funds and asset units at the bottom after penetration. Second, the total scale of private equity funds allocated to all clients by a single fund shall not exceed 10% of the total size of public funds allocated by the fund patronage institutions to clients; third, clients should meet the appropriateness management requirements of each private equity fund in the portfolio strategy, the conditions of qualified investors and the limit of the amount of individual investment. Fourth, private equity funds with a closure period longer than three months and a net value disclosure cycle longer than one week shall not be included in the alternative pool of private equity funds that are specifically composed of private equity funds at the bottom, and private equity investment funds that should not provide investment advice in accordance with prudent operating principles. (reporter Huang Jingsi)