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Research On The Investment Style Of Equity Public Offering Fund And QFII

Posted on:2017-06-23Degree:MasterType:Thesis
Country:ChinaCandidate:J H DuFull Text:PDF
GTID:2349330503965726Subject:Finance
Abstract/Summary:PDF Full Text Request
From the beginning of the QFII in 2002,this is the 14 th year since it has been started.In these 14 years, the expansion of QFII experienced two stages. The first stage is before2011,it improved steady. The second stage is from 2012 till now, the expansion become rapidly. QFII has become the second largest corporate investors in the China's security market with the credit of 79.099 billion dollars. QFII is the first big institutional investors in domestic traditional equity public offering fund became the capital in our country together two of the most important participants in the market.So compared to their investment style, no matter in theory, and practice, has very important meaning.This paper first introduces the research background of this article and the current research results both at home and abroad, and further analyzes the development course of QFII system, at the same time, compared with India, the Taiwan region and other countries and regions on the development of the QFII system. The QFII system in China's mainland, by contrast,started relatively heavily, is now a gradual relaxation stage.Followed by the first core content of this article, studies the QFII and domestic equity public offering fund investment style, found in a bear market phase, both the investment style of the similar, are more inclined to hold shares of defensive plates, but public funds appetite for risk is higher, after dip will be decisive in bear market phase change style, turned to radical, have the courage to bottom; In a bull market phase, QFII insisted that own long-nursed investment strategy, preference defense value, will not change, because the market madness and public funds quickly changed the style, more radical type plate stock, desire for the excess earnings is higher.In the comparison of the bear market and bull market after the similarities and differences between two major institutional investors investment style to see who got the higher returns in China's capital market.In the following comparison, QFII performance is more outstanding than public funds, but public funds in the recent 2015 thoroughly than QFII, may demonstrate this is the beginning of the maturity of public funds.Finally to summarize both investment style and earnings, and the equity public offering fund and QFII system development was discussed and the suggestion.
Keywords/Search Tags:Qualified foreign institutional investors, Equity public funds, The investment style, Financial reform, Proceeds contrast
PDF Full Text Request
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