Research Of Pricing And Investment Strategy On Chinese Grade Fund Based On Decomposition Of Options

The purpose of this article is to analyze the characteristic of structured mutual fund, comprehensive analysis of the different between structured mutual fund and all kinds of ordinary fund in the domestic market at present, and compared from the aspects of profit model and value accounting. Since UBS SDIC Fund Management Company launched the first structured mutual fund on fund market, the investment bank of blessed grading fund, structured mutual fund as a kind of innovation fund products have obtained rapid development, based on the different lever coefficient, risk, innovation fund products for different people appear constantly. With the increasing product variety and quantity, the structured mutual fund in the field of product value and design also ushered in the unceasing development, and the operation mode, investment targets, the respect such as organization form many fund companies have made different attempt and exploration. The position of structured mutual fund in our country also rising.This paper first introduces the current development of China’s fund industry and the classification of fund basic situation, classification and definition of existing products on the market; Secondly, from the Black-Scholes model and the monte carlo simulation method two kinds of methods analysis valuation of fund products classification and summary on the pricing; Third, uses the Black-Scholes model for theory of three product pricing, and compared with the market price correction results, found that the theory of pricing on high-risk share more applicable, for the class A share valuations to predict relatively weak, and improved designed of structured mutual fund according to the results of classification of fund; Finally, based on the above analysis of choice for the investors and investment rating fund specific Suggestions are put forward.