A Study On Investment Strategy Optimization Of SJ Private Equity Film And Television Fund

China’s film and television industry has boomed and got a highly prosperous market with the support of the state policy supporting the cultural industry vigorously in recent years.In 2019,the total box office reached ￥64.266 billion with 1.73 billion visits.At the same time,the film and television industry with high box office also features high investment and high risks,and the traditional financing methods cannot keep up with the demands of the industrial development.Under such background,the private equity film and television fund in China is born smoothly and grows rapidly due to its large financing supply and flexible investment strategy.However,the periodic uncertainty and complex production process of film and television investment industry and the current condition of taking subjective experience as the investment strategy undoubtedly aggravate the difficulty of private equity investment.Based on this,how to effectively establish systematic investment strategy optimization has become an emerging topic.This paper adopts methods of literature review and case analysis to conduct a comprehensive analysis and summary of the investment strategy system of China’s private-collected film and television fund,collect and sort out financial statements,internal assessment data and similar film and television investment projects of film and television fund projects issued by SJ Private Equity Film and Television Fund Investment Company in recent years.Besides,it also focuses on the research on the current situation of investment strategies in the preparatory period,creation period,publicity period and profit period for SJ Private Equity Film and Television Fund and constructs some optimized measures for investment strategy system for its private-collected film and television fund so as to form an investment ecosystem and a closed loop in terms of the shortcomings in its investment strategies.Combined with the analysis of the investment strategy of SJ Private Equity Film and Television Fund,this paper comes to the following conclusions:First,in terms of the investment strategy in the preparatory and production period,it comes to the analysis that the investment strategy of SJ Private Equity Film and Television Fund is dominated by experience factors without reasonable basis for the valuation of investment target,and has a strong dependence on industry resources.As for the investment portfolio,there is single investment and inseparable portfolio strategy.Investment operational cycle strategy is not perfect enough to deal with force majeure and others problems.Second,in terms of the investment strategy during the publicity and profit periods,we have found that the investment strategy lacks big data mining analysis and has insufficient anti-piracy strategies based on the analysis of SJ Private Equity Film and Television Fund.In addition,the profit source of investment strategy is relatively traditional with a scarcity of diversified investment strategy.And there are insufficient management after the investment of film and television projects,low participation rate and shortcomings in the control strategies of investment process.Third,it is suggested to optimize the investment strategy of SJ Private Equity Film and Television Fund from the following aspects.Improve the valuation investment strategy and increase the investment strategy for optimization based on the combination of multiple projects.In light of the characteristics of film and television industry,prolong the investment operational cycle strategy.Optimize investment strategy in big data and strengthen anti-piracy strategy.Establish an ecological investment strategy with multiple profit sources,a backward strategy from investment returns,and the investment strategy for the stages in the film box office.Finally,strengthen the post-investment management of SJ Private Equity Film and Television Fund for film and television projects,and enhance the strategy in process control of force majeure.The research conclusion of this paper can be conducive to the optimization and improvement in the investment strategy of SJ Private Equity Film and Television Fund,and provide certain reference for small and medium-sized private-collected film and television fund in China.