The Research Of Design And Development-China's Index Structured Fund

Structured fund,also called 'structural funds',is refers to shape variety of funds with two-stages(or multiple-stages)risk benefit but under separated fund share,through decompose the income and net asset,which all of these funds are in one portfolio.Leverage is an essential feature of the structured fund.The current index structured fund products mainly include investment targets,leverage,priority stage's contract revenue,the characteristics of duration,the classification of fund matching transformation mechanism,share conversion of structured fund and other related content.This paper mainly studied on the product design of the structured fund which based on recent years' environment of the securities market in China.The main purpose of it is to find the problems by analyzing the formula and design of current index structured fund product,and put forward the corresponding improvement suggestions to these problems.?This paper includes four parts.Chapter one is the Introduction.It mainly introduces the research background and the purpose,which also summarizes the related research achievements of predecessors,introduces the research orientation and methods,brief the difficulties and the innovations of the research at the same time.Chapter two is about the development and present situation of structured fund.First of all,this paper reviews the development history of the funds,and introduces the origin of the fund in our country and development course.Then,a brief introduction to the structure fund will be put forward which analysis the characteristic of it,and especially carding the existing classification fund products.Chapter three will be discussed about the design and the existing problems of structured fund.This part analyzes the fund of its investment targets,leverage,the characteristics of duration,prior stage's contract revenue,share conversion of structured fund and the classification of fund matching transformation mechanism.Finally to sum up the current product designs of funds by choosing the valuation methods which been commonly used—Monte Carlo simulation,to analyze part of the structured fund cases.Discuss the problems which exist in the design of scheme.Chapter four gives some suggestions to improve the problems which still existing in the fund products' design.