Study Of China's Securities Investment Fund Industry

The listing of stock index futures means, in a sense of that, there is a short mechanism in our capital market in April 16,2010. Not only it has great significance to the restructuring of the capital market, but also there is a very important meaning to the development of China's securities fund industry. In this paper, we focus on the China's securities investment fund industry and analysis it mainly from industrial structure, market behavior, and performance.First of all, from the perspective of market structure, we focus on it mainly from the number of companies, the proportion of asset management, and the structure of the typical companies. The number of fund companies steadily rise. Assets management top 10%, top 30% and top 50% of the curve change regularly. Asset management ratio shows the corresponding "level" trend. When focus on big changes on large asset management companies and changes in the size of the Fund, we can find that these changes can be found mainly in the new fund (mostly index funds), large rise in net growth rate of a fund and impulse Monetary Fund and the Bond Fund.Secondly, from the perspective of market behavior, fund companies compete mainly on product innovation, impulse Monetary Fund and the Bond Fund and dividends, whether it is small fund companies to compete for more market share or the large for holdings to more funds.Finally, from the perspective of performance, we focus on it mainly from the management fee income, the total size of asset management, the number of funds and the penetration indicators. The industry behavior and changes in capital markets, making China Securities fund industry changes both from the number and the scale,While the securities investment fund industry has been rapid development in recent years, but development is relatively incomplete. So we make some policy recommendations mainly from the regulatory point of view, transparency of information, new product and the independence of trustees.