The Application Research Of Stock Index Futures And Fund Management

Since the 1990s, the rapid growth of the fund industry. Open-end funds have become China's fund industry one of the major developments. To open-end funds as the main representative of the standardization of institutional investors on China's securities markets are playing an increasingly important role. As an innovative financial products, open-end fund in China's sustained and healthy development of securities markets and international capital markets into a powerful role in promoting the play.However, with the open-end funds in China to develop deep, gradually revealed a umber of issues. International experience and China's closed-end fund management peration has proved: the Fund is a high-risk industries, in the absence of strict, comprehensive risk management mechanisms, the development of open-end funds are facing a great risk. With the Sept. 8, 2006 China Financial Futures Exchange was formally established in Shanghai, will launch stock index futures. Stock index futures market hedging, with the aim of holding the cash assets, or hedge the risk of buying shares to lock in the future the cost of hedging can be realized through various market participants between the risk transfer. When the cash and futures between a beta coefficient of price stability in the linkage of the law, making the spot hedge the risk of system possible. In this case, through the study of stock index futures to guard against the risk of open-end fund in China is of great realistic significance.This article from the market, the practical problems faced by, the Fund can be demonstrated through the beta coefficient and index futures to hedge the investment management principles. Futures market trading mechanism to avoid the stock market fell and incurred losses for the hedge, fund of funds to reduce investment risk, the use of domestic and foreign mature theory, by comparing the risks and assess the effectiveness of the model, minimize capital investment fund Risk.