CMS, the pioneer in the entrusted business of securities companies, announced yesterday: CMS will be the first company to launch private fund with zero fixed trade spending, be dedicated to providing customers with the integrated financial solutions of private fund and CMS has signed contracts with its customer for its initial products. CMS is able to get "the first taste of the soup" of innovation in the business of securities custody after it becomes the first to obtain the private fund custody qualification, one of the first to obtain the public fund custody qualification. Since its outsourcing and custodian services accounts for 85% in the securities industry, CMS is confident to do a good job in providing customers with "one-stop service" covering the whole life cycle of the private fund, such as product design, fund custody, net value calculations and announcement of results.