Study On Operation Of The Real Estate Industry Investment Fund

After more than 20 years development, Chinese real estate industry has had some scale and made important contribute to the development of national economic and progress of people life. But there are some problems in the development of the real estate industry, the main problem is that the system of the finance of the real estate industry is not advancement and capital of real estate industry development comes from bank mostly. The singular channel of capital not only handicaps the development of the real estate industry but also puts the finance system in tremendous risk. So, it is important to the development of the real estate industry that expands the finance channel of the real estate industry and builds advanced system of finance of the real estate industry. The Real Estate Industry Investment Fund is the part of the advanced system of finance of the real estate industry.The Real Estate Industry Investment Fund is a systems project that includes such connotations as the law systems, supervision systems and practice rules. This dissertation considers the operation of the Real Estate Industry Investment Fund as the point of beginning to design reasonable operation plans for the Real Estate Industry Investment Fund that develops the feature of the real estate industry investment fund as efficiency investment in the practice really and increases the payoff and anti-risk ability of the real estate industry investment fund.So, the dissertation regards investment process of the real estate industry investment fund as the clue and frames the real estate industry investment fund by the real problems in the operation. Firstly, the dissertation employs a qualitative analysis and a quantitative analysis to evaluate the invested company or project of the real estate industry investment fund. Secondly, the dissertation analyzes the risks of the real estate industry investment fund and puts forward the policy of risks management. Thinking the real estate industry investment fund as an efficiency investment, the dissertation employs the principal-agency theory of neo-institutional economics to analyze the risk of principal-agency between the real estate industry investment fund and its investment objects. Thirsty, the research angle is turned within the real estate industry investment fund to analyze the promptings and restrictions of the real estate industry investment fund managers and the incomes and distribute of the real estate industry investment fund. Finally, the dissertation analyzes the exit channels of the real estate industry investment fund mainly.Moreover, the dissertation defines the real estate industry investment fund precisely and discusses the contents of set up the real estate industry investment fund and the process and direction of investment of the real estate industry investment fund in the beginning.