Study Of The Development And Operation Of Securities Investment Funds In China

Securities investment funds (SIFs) are paid wide attention by governments and investors of all nations for their unique fascinations of convenience of investments, specialist management, decentralizing risks, sharing benefits and their positive functions of promoting security markets forming capitals optimizing industrial structures and cultivating new economic growth spot etc., and accordingly make rapid progress in all nations over the word. In this paper, researches on development and operation of SIFs aim at three main goals of promoting security markets progress: (1) hypernormally developing institutional investors most of which are SIFs; (2) the smooth, steady and scientific of supervisory policies in SIFs markets; (3) protecting legal benefits of SIFs holders.In my research, the following tasks have been emphatically completed from many respects: (1) On base of relative data of SIFs at home and abroad, making comparatively accurate definition of SIFs; analysing and demarcating its intension from economic and legal points of view. Development courses of domestic SIFs are reviewed and analysed, and the historic phrase of SIFs of our country at present is concluded. (2) The main problems lying in the present situation, development and operation of SIFs of our country are emphatically analysed, and the deep cause of their forming is found out and strategic decision of regularizing the development of SIFs in China is put forward. (3) They are contrasted among main nations and regions in Europe, America and Asia, and in the contrast the beneficial experiences of the development of SIFs in foreign countries are used for reference so as to promote domestic SIFs to develop soundly and regularly. (4) Investment ideas and varieties of strategies of SIFs are analysed and researched specifically, and the dialectical relationships between supervision and development, operation and development, the carrying forward of open-end funds and long-term development of investment funds industry are discussed, and the importance of scientific and systematical researches to fund investment is pointed out, and the orientation and the demand of developing institutional investors in China at present and in the future are pointed out.Investment patterns and strategies of domestic SIFs have evolved and transited in these years, and investment styles are increasing day and day, the study and the usage of mathematic modes are shown solicitude for increasingly, and conduct regulars of SIFs show more important than games themselves. The time in which the security industry of our country develops greatly is coming, but industrial conduct criterion must be erected first along with the growth of the quantity and the scale of SIFs. Researches show that high-efficiencymarket supervision and efficient operation are foundations of the development of investment funds; and that the construction and development of open-end funds are the insurance of long-term development of SIFs; and that systematization and scientificating of investment researches are the main contents of SIFs; and that specialization rationalization regularity and legality of the operation of SIFs are prerequisites of their survival and development.