Guaranteed Fund Development In China Mediator Mechanism Research

Guaranteed fund is listed financial innovation of the products in the United States in the1980s. The first guaranteed fund issue was established in2003in China, in the country of the late start fund variety. At beginning of guaranteed fund came to the market, due to the lack of financial derivatives and to guarantor of qualification strictly and restricted the development of guaranteed fund, investment tools and guarantee to the lack of resources for the development of repute guaranteed fund major bottleneck, plus guaranteed fund policy guidance continued failure to come on stage in China’s, the guaranteed fund slow development in2010years ago. Until October2010securities regulatory commission officially published about "the guaranteed fund guidance,’guaranteed fund issuance of operational clear specification, the investment scope and guarantor clear requirement for qualification, marked by domestic guaranteed fund exploration stage into real development period. In recent years, China’s financial market further development, such as stock index futures. In the policy guidance and the deepening of the market to promote, further stimulated the guaranteed fund market enthusiasm, only2011there was19teams that guaranteed fund is approved, and the establishment of an operation with17teams, plus the five teams that existing, as of late2011market totally has guaranteed fund22teams, the finance market comes into the rapid development.In China’s existing financial system and policy environment, the developing of guaranteed fund is limited, investment tools selection still more conservative, banking, insurance and securities institutions is to be clear as optional security, but in faces practice has many restrictions, some bottleneck problems has not solve completely, there are problems need to faced about guaranteed fund future health development and the market operation. Guaranteed fund investment strategy and security Settings is the key link of guaranteed operation, in recent years, domestic is no lack of the two aspects of research, this paper summarized the two aspects for capital guaranteed mechanism, this paper puts forward the concept of guaranteed mechanism, and independent analysis and relevance, and based on case analysis in this paper shows that in the guaranteed fund operations of the security role.The first chapter paper introduction part with the current market situation and guaranteed fund overall policy environment made the research background, purpose and significance, and to domestic and international related research achievements on comb; The second chapter lists the developed countries and regions in the development of the guaranteed fund and the present situation, emphatically introduced guaranteed fund fund and development, and analyzes the market operation guaranteed fund performance and operation mode; The third chapter basically-guaranteed fund research on China’s investment strategy choice, guarantee the guaranteed fund set up legal foundation and optional guarantor analysis from three aspects, and the analysis of guaranteed mechanism; The fourth chapter through the case study show the actual operation of the guaranteed mechanism and efficiency; Chapter5according to the domestic financial market and policy development trend for the prospect of research; Conclusion section of this paper researches of stage summary.This paper in the study, first of all, to our country market guaranteed fund operation mode existing comparison, this paper summarizes the operation characteristics and inadequate; Second, through to the existing policy guaranteed fund set up under guarantee the analysis, found that guaranteed fund operation in our country the degree of marketization is not enough, the compatibility between financial policy needs to be enhanced; Finally, the way the case analysis, reveals the links operation way of guaranteed mechanism, and points out that the mechanism of guaranteed security utility to expect future policy formulation and product design more loose flexible.Guaranteed fund belongs to a small category of securities investment fund products, although that hold market share is not big, but in the rich fund product line to meet specific market demand, it has an important meaning to promotion of financial innovation, therefore, to promote the healthy development of guaranteed fund and the market operation are the requirements of the development of the financial market further. In this paper, the analysis is based on the guiding opinions about the guaranteed fund "issued. The relevant data and basic materials are from practice arrangement, through to the research about the mechanism, the paper shows guaranteed fund operation characteristics in the further, and provide relevant reference about completely the guarantee fund market and improve guarantee fund police,...