| With the development of the market economy in China and the integration of global economy, the security investment fund is rising progressively in our country as a kind of new financial investment tool. Its appearance is a result when the social economy developed into a certain stage; it has a history of more than one hundred years in capitalistic countries while it is only in its infancy in China, especially the open-ended funds still in their testing phase. But from a worldwide view, the open investment funds have already become a bridge between money market and capital market, and have a greater advantage compared with close-ended fund, so they occupy the major status in most countries and represent the developing direction of investment funds. In addition, after our country joined WTO, fund industries will face the competition with the foreign counterparts. They have more experiences in the management and administration, and they will form a enormous challenge to the fund industry of our country. So our country should develop open investment funds energetically: on one hand, we should meet the needs of investment funds at home; on the other hand, we should accumulate the experiences in management as soon as possible in international competition. The open-ended investment funds is the result of market economy and financial capital market which have been deepened and perfected constantly. Its development has its own regularity, and follows the principles of the market competition. Therefore , to realize the rapid development of the open-ended fund under the situation at present in our country, we should set about from three respects mainly. First, understand the importance and necessity of the development ofopen-ended funds; Second, perfect the market condition of our country in favor of offering the wide development space for open-ended fund; Third, perfect open-ended fund operation and other terms of mechanism to make their own advantage and strengthen constantly among the market competition. Only when we come to perfect the external environment and the internal operation mechanism from these three respects, may we realize the rapid development of the open-ended fund in our country. The discussion in this article is based on the above-mentioned test. The external environment and internal operation of Chinese market of the open-ended investment fund are mainly focused on .The full text is divided into six chapters altogether: Chapter one is the brief introduction to open-ended fund. Besides the concepts, organization, history, merits and great meaning of the open-ended fund , it points out the financial revolution that the open-ended fund may bring and analyses the operation of the first open-ended fund of our country; Chapter two mainly introduces the experience of development of American open-ended fund. It analyses the market environment in which American open-ended fund developed rapidly especially, and regarded as the reference of the open-ended fund in our country; Chapter three reviews the development of mutual funds industry in China and put forward some problems of this industry nowadays. By profound analysis, we points out the roots of the problems.On the basis of chapter three, chapter four analyses the effectsof open-ended funds on our securities market and draws the conclusion that we should perfect the structure of mutual fund market and improve this business by developing open-ended funs.Chapter five discusses the marketing stratage of open-ended funds, such as perfecting market rules, cultivating investor resource, and ect.Chapter six is a Summary and is proposed the suggestion of making some progress in open-ended fund of our country. The argumentation of the full text is mainly according to the characteristic of the open-ended fund. It discusses that external conditions and some market factors which can bring about an advance in its market are required. While learning the experience of overseas open-ended fund and close to get in... |
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