Art Investment Funds Withdrew From The Study

Exit mechanism is one of the key links of art investment fund (hereinafter referred to as the art fund).By studying the cases such as La Peau de1’ours, British Rail Pension Fund and so on, this thesis investigates the related concepts, the market environment and the development of the exit mechanism of art funds with the economic model, Effective Demand. On this basis, the paper analyzes the economic basis of the exit, the way to exit, the channels to exit and the exit opportunities of art fund."EXIT" promotes the transformation of art fund functions. Art fund would be more effective if it possesses the double-function of the price-founder and the value-creator. To hedge risk, art fund should disposal both art assets and the capital resources. The exit of art fund also puts forward a new claim, which is to increase the number of exit channels and improve the effectiveness, and help protect against losses by decrease information asymmetry. The study will not only be helpful in understanding the art fund, but also provide a new perspective to the art investment market.