Open-end Fund Research, Development Strategy In China

The global development of Opened-end Funds,not only gives profit to middle and small class investors,but also provides a new financing method for economy development of countries all over the world. In recent over ten years,Chinese investment funds have made a great progress. Lately,玂pened-end Fund pilot standard}} has come on. It adequately showed the strength and resolution of government to speed the development of Opened-end Fund in China.Firstly,the essay introduces the general theories on Opened-end Fund,such as the definition,character and the function. It also emphasizes the difference between Opened-end Fund and Closed-end Fund.Secondly, the essay analyses the macroscopic and the microcosmic factors that affect Opened-end Fund .The macroscopic factors include economy cycle,governmental policy, bank rate and market validity; The microcosmic factors include the managers' behavior and ability, investors' mentality and action.The author introduces the development course of Opened-end Fund all over the world,and summarizes the size,characters and directions of Opened-end Fund at present period. The author also point out the functions of the Opened-end Fund in capital market.With reviewing development course of Chinese Opened-end Funds,the author generalizes systematically investment funds market situation in China,analyses and researches the present Opened-end Funds' development situation. Now there have been some necessary conditions that are benefit to develop Opened-end Fund in China,such as:nicer macro economic environment,the upstanding security market,the mature investor,the enormous capital resource,etc. At the same time,we should observe the bottlenecks,such as:high cost,extrusion risk,minor capacity of the security market,etc.At last, the essay probes into the main factors restricting development of Opened-end Funds at present period in China, and raises relevant countermeasures. For example: perfecting the law and monitoring,strengthening the assessing index system of funds achievements and efficacy,enhancing marketing, improving the professional level of managers,preventing monopoly and encouraging competition.