Open-end Securities Funds Industry Investment Approach Explore

The development of open-end fund as a result in market goes with the tide of finance innovate movement. issued in November of 1997 stipulates," the fund promoter can either apply to set up open-end fund or to set up closed-end type ". But for the consideration of all sorts of factors, up till now, our country's existing security investment funds are all closed-end types. As to open-end fund, because of its mechanism of subscription and redemption , on one hand, excellent investment profits irritate investors to offer to buy eagerly, which makes its assets to expand rapidly at scale and brings wealth to fund manager; At same time on the other hand, the investment failure can put a large amount of pressure on fund manager about redeeming by holder . Therefore, the open-end fund managers prefer to investing rather than speculating to seek the rising of value. They devote themselves to research the profit of listed company and the growth of trade, in the field of the basic industry, the pillar industry, Hi-Tech industry etc. The pilot project nature of open fund has determined that it will not be the simple foreign imitation , it will not be the second edition with existing fund either .Thinking of situation in our securities market at present, the open-fund probably be set up as growing up type, the income type and balanced type extremely probably. Because of these kind of uncertainty, it is difficult to forecast the investment orientation of open-end fund in future simply going after the existing style of management company. Therefore, it is necessary to combine the development of our funds and our industries with the experience of foreign funds. Acting in accordance with the industrial policy , we can share the profit of the development of industry, the upgrading of industry and new round of investment and consumption to a climax, led by which will reflect in the swift and violent development of the securities market finally. The maximization of profit is obtained through analyzing the foundations of industrial policy and industrial structure correctly. So, the studying of industrial open-end fund invests in the orientation to advocating the theory of investment a kind of science, guide investor's reasonal investing and fund standardization of the market to develop facilitation. Positive realistic function can be realized in the course of operation to the open-end fund of our country to make income maximization, risk melt, keep appropriate mobility.