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The Study On The Development Of Chinese Private Placement Fund

Posted on:2009-01-28Degree:MasterType:Thesis
Country:ChinaCandidate:J N WeiFull Text:PDF
GTID:2189360272490413Subject:Finance
Abstract/Summary:PDF Full Text Request
After about 20 year's development, the private placement fund has played a very important role in the Chinese stock market. The high risk, high returns and high entry capital requirement have brought the private placement fond to one of the most attractive topics in the financial market. Besides, the intransparency of the information disclosure adds more magical charms to the private placement fond. As the private placement fond is operated based on the market, it will lead the Chinese capital market to what it should be developed into, whereas public offering fond can not bear such heavy responsibilities for its limitations in the system and mechanism.This paper, analyzes the global development of overseas private placement fonds. From the perspective of the whole market development, this paper argues that the regulating and standardizing of the private placement fond will be helpfol for building a healthy and competitive environment for the Chinese capital market. This paper analyzes the status quo of private placement fond in the Chinese capital market and the advantages and disadvantages appearing in the process of development. Also, this paper studies the legal status of the private placement fond and observes the lack of laws and regulations, and the non-regulated operation, management and supervision, etc. This paper proposes the following suggestions that might guide the development of private placement funds:First, the lack of laws and regulations is the fundamental issue impeding the regular development of private placement fonds. Therefore, it is necessary to ensure its legitimate status and give fair legal treatment, which will definitely boosts it to compete in a relatively fair environment.Second, limited partnership is a relatively ideal legal form in the future development of Chinese private placement fonds. We must introduce relevant policies, rules and regulations to ensure the legal rights of opening security accounts for private placement fonds with limited partnership. Third, the government supervision departments should learn from the international experience and focus on the investors' qualifications, the sales channels, as well as the managers' qualification of private placement funds, while not interfere too much in the establishment and specific operation of products.Last but not the least, the government supervision departments should establish and improve the supporting services and systems for the sunny development of private placement funds.
Keywords/Search Tags:private placement funds, hedge fund, mutual fund
PDF Full Text Request
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