Study On Jinglan Investment Management Co. Ltd. Investment Strategies-improvement Based On The Shanghai And Shenzhen 300 Index Futures

With the establishment of the stock market and the great increase of Chinese residents' personal wealth, private equity funds are also springing up vigorously. But soon after its establishment, the stock market experienced a long period of a single trading means, lack of short-mechanism and risk hedging instruments. In face of the decline in the market, investors can not find efficient investment tools to avoid the risks, and thus private equity funds, as institutional investors, can not form a long-term effective investment strategy. April 16,2010, the first four Shanghai and Shenzhen 300 index futures contract was formally listed for trading in China Financial Futures Exchange, allowing China's securities market ending the era of unilateralism. Taking this good opportunity, Jinglan Investment Management Co.Ltd., a private equity investment funds which works as a professional investment manager of trust assets, carried out the investment in stock index futures on the basis of its securities investment. In the new market environment, the company adjusted its original securities investment strategy, changing from combination of the top-down investment and trends investment to the rotation strategy, also making its investment portfolio strategy for the company to adjust different investment style in the selection of appropriate investment strategy for index futures. China's stock index futures is new in the securities market, although there are theories of overseas market and reference of their market trends, investors can not fully copy these existed things in the actual operation of China's securities market.In 2010, the good news of stock index futures has great significance for private equity investment industry, China formally entered an era of hedge arbitrage for private equity investment, but there is still a long way to go for the private securities investment fund industry to become more mature and more specified. It is the industry's top priority to make its legal status clear and to further expand the scale and share in the capital market. For investors, private equity funds disclose less information and is less transparent. For private securities investment fund, the difference in investment philosophy and rick control between products have led to a differentiation of investment styles, the fund itself is under great pressure to survive. In the stock market, the convergence of investment strategies has caused an average profits, it has become the primary task for funds to deliberate how to further innovate in quantified investment and adopt a strategy which is more suitable for its own development. The paper is innovative for its improvement for the company's portfolio strategy, but there might be some inevitable biased points because of the writer's limited knowledge, the writer sincerely hopes that the paper would be a reference for researches regarding the portfolio issues of stock index futures investment.