Research On The Transaction And Management Mode Of Futures Investment Fund In Our Country

Gradual liberation of the innovation business of Futures Investment Consulting and Futures Asset Management marks the "General Asset Management" era. The futures industry would change from the traditional brokerage business to innovation business. Futures’ function as a tool of the wealth management and the risk management would be increasingly reflected. However, there is no standard management mode of futures investment fund in our country. Futures financial products are still relatively backward compared to the development of the whole financial product market. In this context, how futures investment funds would go in future, whether the futures industry should establish and regulate their own futures investment fund market, how the transaction and management mode of futures investment fund would be adopted and how to establish China’s futures investment fund market are the research hotspot and urgently needed to solve.This paper first summarized the previous research done on futures investment fund, and later the research on transaction and management mode of futures investment funds in our country was determined. In this paper, the definition and the characteristic of futures investment fund were first discussed. Futures investment fund are category of investment fund. The futures investment institution supervised by professional futures supervision mechanism raise funds and use the professional investment philosophy and experience or their trading system developed by them to invest in global commodity futures, options, securities index futures and other financial products or material. After defining the concept of futures investment funds, the status and the existing problems of futures investment funds in our country are discussed compared with the foreign futures investment funds. Relative to the foreign futures investment fund, the turnover of China’s futures investment is too small, lack standardized management mode and mature trading pattern, no professional certification body for certification of the futures investment fund professionals. Then this paper analyzed the necessity of futures investment fund from three angles respectably individual, institutions, market. From the perspective of individual investors, as income increases, the contradiction of people’s needs on the assets of financial products and the lack of these products, the loss of their futures investment elaborates the necessity for individual investors to develop futures investment fund. From the perspective of institutional investors like spot producers and financial institutions, development of the futures investment fund as their own professional hedging experts is necessary. From the angle of the market, developing futures investment fund can help to improve the liquidity of the futures market and is beneficial to improve the stability of the market, promote the healthy development of the market, improve the structure of the capital market. After the analyzing the necessity of the development, this paper mainly focused on the research of the transaction mode and management mode of futures investment funds in our country. In the study of transaction mode, the portfolio investment, program trading and risk management in three modes were researched. Portfolio investment can make minimize risks in the futures investment funds, program trading can make the steady growth in earnings and the multi strategy combination can improve profitability, through hedging and pricing of transaction risk management for spot producers was improved. In the research of management mode of the futures investment funds in our country, the personal account management and collection account management, futures fund, public futures fund was discussed. Finally this paper proposed some development suggestions of the futures investment funds in our country including choosing the compatible management mode, cultivating commodity trading advisor in China, the development of professional institutions for professional certification on the futures investment funds in China, promoting the development of laws and regulations, at the same time, for futures investment funds doing a good job in the investor education so that more investors to participate in futures investment fund.