Research On The Development Of Open-end Funds In China

With the development of the market economy in China and the integration of the global economy, the open-end funds have developed swiftly and violently in our country as a kind of new financial. Not only the expansion of the quantity but also the improvement of the quality embodies the development of the open-end funds market. Firstly, the scope of the fund company initiators has been broadened obviously. which broke the monopoly, stirred up the competition and promoted the development of the fund industry. Secondly, the new species of funds flow out continuously. There are not only the stock funds, but also the bond funds; not only the closed-end funds, but also the open-ended funds which come later but surpass the formers and become the main current species in fund industry. Thirdly, the consciousness of the trustworthiness and the obedience to the law in the fund industry has been strengthened continuously. Besides of the Security Investment Fund Temporary Rule and Open-ended Funds Experiment Rule, the exercising of the Security Investment Law will undoubtedly make the fund industry operate orderly and legally and bring good chances to the great development of the fund industry. Opportunity and challenge coexist. The development of our fund industry is sure to have a bright future. However, the stock market has not yet got out from the trap of the declining tendency, which has deeply affected the operation of the open-ended funds in our country. At the same time, we can also neglect the problems accompanying the development of the fund industry itself. There are a lot of problems in the development of open-end funds, such as the regulations and mechanisms , the construction of the funds ,etc. consequently , we should analyze the special circumstances of our country funds industry , Referring to the experiences of other nations, a specific road with the Chinese characteristic must be found out to ensure our fund industry a healthy and orderly development.By means of theoretical and empirical methods, this thesis demonstrates the development track of the open-ended funds in China. At the same time, according to the problems of the open-ended funds in China and based on the lessons of other nations,I will give some decisive suggestions to the development of open-end funds in China. The thesis consists of four core parts. Chapterâ… is the foundation for the full text. Chapterâ… is the foundation for the full text. It defines the open-ended funds as the development direction of our countrys investment funds from the sights of the Regulations Economics. Chapterâ…  is the explanation of the background of the development of the open-ended funds. Chapter â…¡ is the empirical analysis on the open-ended funds existing in China security market. This part includes five aspects, which are the problems on the system and mechanism ,the market development circumstances and the basic obstacle ,the quantity and quality of the investment objectthe fund performance, the administering structure of the corporations and the traditional investment culture obstacle . Chapterâ…¢ is the summary of the experience of the American,Japan and Hongkong open-ended funds. This chapter is divided into thee sections. As a creative part of this paper, chapter IV is based on the preceding ones. Drawing lessons from the development experience of the America Japan and Hongkong and aiming at the objective circumstances of our country, the author puts forward the speculation of the open-ended fundsin our country objectively.