Research On Security Investment Fund's Investment Countermeasures Against Stock Market's Depression

The security investment fund is the product of market economy where there is a lot of capital accumulated for investment, especially where the financial market has become matured to a certain extent and there are more and more financial tools. As a new investment tool, the fund can attract separate money from individuals and agencies and then be sent to the professional institution for management. Therefore the fund can make individuals and agencies involved in more professional and risky investment field, and can also get more reasonable investment payoffs for the fund can reduce the risk to a certain extent. In a word, the trait of security investment fund is that it is operated by experts, can decentralize risk and has more flexibility.China has tried to develop the security investment fund since 1980s. But for the incomplete understanding of the fund, the initial development has nearly led to chaos. China security commission did not announce "The temporary method for management of the security investment fund" until November, 1997, since then the fund in China began to be on the road of law and norm.The study subject of this thesis is the strategy of China's security investment fund during the depressing period, which mainly analyzes the performance of the fund and the investment strategy taken by each fund since 2001 when China's security market began to be in depression. In addition, the thesis has given a detailed introduction and analysis on the concept, historical evolution and development reason of American Common Fund as well as the reason, development process and existing problems of China's security investment fund. The thesis has four parts, and the main content is as follows:Chapter one and two expounded the development process and reason of the security investment fund both in foreign matured market and China's lessmatured market, and also expounded the meaning and existing problems in developing the fund in China. For example, the influence of the market environment is one of the existing problems.Chapter three proved that the development of China's security investment fund mainly depends on that of security market by using an empirical method, and then analyzed the development situation of China's security market since July, 2001. After that, this chapter appraised the performance of China's security investment fund during depressing period through four classical assessment methods for the performance of security investment fund, and then the fund was divined into different styles of investment on the basis of βcoefficient of each fund, and also arranged the performance of each fund according to complex index. In the end, the chapter analyzed the exiting problems of China's security investment fund.In the light of the above analysis, chapter four put forward that the crucial point of solving the existing problems is to make the fund line innovate constantly...