The Analysis Of Liquidity Risk Management On Open-ended Fund In China

Since 80's in 20 centuries, the open - ended fund has become the main current of international fund industry nowadays. The three open - ended fund companies that are Huaan innovation, southern steady growth and Huaxia growth have set up and developed in 2001, and it marked a new development stage in the progress of China's mutual fund industry. Meanwhile the risk management of the open - ended fund has emerged .Because of scale uncertainty and redeem freely etc, the liquidity risk has become the most special to the open - ended fund.At the present time, there is the high-speed development compare the high redeem in our fund market, all caused a tremendous bewilder in the theories field and the actual field. Therefore, it is very helpful to the research with the liquidity risk management of open-ended fund.Chapter 1, the paper presents some basic theories about liquidity risk management of the open - ended fund, Mainly to open - ended fund and specialty management in the liquidity risk of the open-ended fund. The paper point out that the most important risk is the redeem risk in the management of the open-ended fund, so the fund manager can reply on the management of redeem risk to the liquidity risk. According to the specialty management in the liquidity risk of the open-ended fund, there are three aspects: The first is that the fund holder structure problem; the second is the restriction of the fund investment object and the problem assets assignment. The third is the problem of the huge sum redeem to the open-ended fund.