Study On The Liquidity Risk Of Open-ended Funds In China

In September, 2001, the Hua'an Innovation Open-ended Fund had been offered successfully. During the later five years, open-ended funds have become the main investors in the securities market in China. Open-ended funds free redemption make open-ended funds get development of fleetness, but it also leads to the unavoidable liquidity risk to open-ended funds. So it must be solved how to take effective measures to keep away and manage liquidity risk of open-end funds. The open-end funds are new in our country, and the liquidity risk is obvious for the particularity of the securities market. Catered for the development of open-end funds, the thesis is focused on the liquidity risk of open-end funds from taking effective measures. Trying to provide some valuable advice and thoughts to measures and manage liquidity risk of open-ended funds in China.The author studied on the liquidity risk of open-ended funds including used the research all kinds, analyzed the liquidity risk of open-ended funds by quantitative and qualitative analysis. Firstly, the author explained the meaning of liquidity risk, its formation mechanism and influencing factors. Then, the author analyzed characteristic of liquidity risk of open-ended funds and the actuality of redemptory quantity of open-ended funds in China, and measured liquidity risk of part open- ended funds offered. Finally, the author put forward method of the liquidity risk management of open-ended funds on the basis of the front chapters.