Research On Open-end Fund Accounting Operation & Information Disclosure

The open-end fund has gotten great achievements in the last decade in China since 2001,while United States and other developed countries spent almost one century.Open-end fund,as one of the indirect financial management tools for the residents,has been widely accepted by the market.The faster the development of open-end fund,the more important of the open-end fund accounting.Research on the open-ended fund accounting and information disclosure,which do not match with the development of open-end funds.It creates a blind spot for the regulation and gives a misunderstanding and loss of investment to investors.So more human and financial power in the research of open-end fund accounting and disclosure issues are needed to invest in.Taking into Consideration of the open-end fund accounting is market player and individual investors'dominant position,this paper select the information of open-end fund accounting operation,open-Fund information demand and supply and accounting information needs of individual investors as the focus of this study. The contents and conclusions of this research are listed as follows.This paper reviews and gives an objective evaluation on the research of U.S. mutual fund and the domestic open-end fund accounting operation and information disclosure, and the positive results achieved in China. Then the paper gives an introduction of open-end fund accounting operation index after the definition of the operation and information disclosure of open-end fund. Additionally, this research designs its own questionnaire on information needs of individual investors after the analysis of the Securities Industry Association's report. Finally,the paper make an analysis of the internet information disclosure of the fund manager and fund trustee.The paper discovers that the individual investors should have the basic understanding and application of accounting information according the conclusion of the questionnaire, but the accounting information disclosed by fund manager and fund trustee can not satisfy the decision of investors. It is pointed out that most fund managers and fund trustees are lack of initiative, the function of internet information disclosure is unreasonable. Passively response of the information supplier hinder fund to forward its step to the Semi-strong efficient market from the weak market in the aspect of accounting information need. Thus, this research suggest strengthening the response system of fund manager and fund trustee towards the information need of investors, and enhancing the bridge character of intermediary agencies, taking the analysis and evaluation from intermediary agencies as the soft rationing of fund manager and fund trustee, which promote the supervision unit to implement positive measures to protect the investors'interest effectively.