| Nowadays, fund- investing industry has acquired almost the same import status with the three traditional finance industries, as are bank industry, security industry, and insurance industry. It has been a finance power cannot be ignored. The open-ended fund market in our country has just start up, it progressed rapidly, though, many problems are still facing us. So far both the fund management system and its relevant measures are neither complete nor mature. The issues such as risk-identification, risk-measurement, risk-decision and practices, as well as risk control need to be resolved urgently. This text takes the current situation of open-opened fund of our country as background, regards"risk management of open-ended fund of our country"as research object. Through the study of domestic and international relevant theory, it combines the current situation of the security market of our country, regards the moral risk, liquidity risk, market risk of the open-ended fund as the focal point and carries on overall, systematic, deep studying to the relevant problems with the method of combing the logical theory and practices, qualitative analysis combing the quantitative analysis. It is based on the current situation of our country and trying to present the risk management measures that meet the development requirement of the open-ended fund.The investors of open-ended fund can redeem the shares 0f fund from fund company according to market situation and one's own investment decision at anytime, so it becomes people's favorite result more and more.But just because the investors can freely redeem the Open-ended funds,this puts higher request to the risk management 0f Open—ended fund too.Firstly, the open-end fund has the same moral risk as the close-ended fund; the risk is due to following three major factors. These are the separation of ownership and management, the asymmetry of the information distribution, the lack of incentive system as well. Because the open—ended fund can be... |
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