Study On The Securities Company Asset Management Business Development Strategies Under The Background-of Great Asset Management

As several new regulations issued in 2012,the asset management industry of our country entered into a new era of the Great Asset Management.Due to the influence of the policy bonus,the development of the asset management business is fully relaxed,entered into a new wave.At present,the asset management business scale has exceeded 70 trilion,is 1.03 times of GDP.With the ascension of China's economy level and the increase of residents wealth,investment and wealth management become the preferred way when resident manage their assets,particularly for high net worth clients.Asset management business,as a kind of investment and financing channels,for institutional investors,it can increase the proportion of direct financing and reduce indirect financing cost.For individual investors,it can enrich financial investment channels and increase the investment returns.The asset management business is conductive to the marketization of the Investment and financing system,and has an important impact on the national economy and people's livelihood,as well as the development of financial markets.Now China's economy situation is in a critical period of transformation and upgrading,traditional business of securities company is facing the problem of market saturation and gradually narrowing profit space.This time,the innovation development of asset management business of securities companies is particularly important to achieve strategic transformation.First,the asset management business chain connected to the capital and assets business,which can promote the transformation of the traditional brokerage and investment banking;Second,the asset management business can reconstruct the profit model of securities companies,from single channel commission system into the whole business chain mode gradually;Third,asset management business can realize the diversification of asset allocation,and attract residents investors convert savings into investment,in the end,it can better serve the real economy.Since asset management entered into the Great era,the asset management business of securities companies has had a expensive development,the growth rate is 575%and 175%in 2012 and 2013.The Great Asset Management era has developed for five years by 2017,the development of the asset management business of securities companies gradually stable,this new time hasn't policy bonus.However,the regulation is more strict.Meanwhile,Securities companies are facing the new economic development environment.For example,the rise of internet financial and asset shortages are the most challenge of the development of asset management.Also,the securities companies have to face the competition pressure of other financial institutions at the same time.So,based on the "Great asset management" era,analyze the present situation and problems of the asset management business of securities companies in our country,and further discuss the development of business strategy will have a practical significance to the securities companies and the asset management industry.The development of asset management business is dependent on the four factors:sales ability,product design ability,basic resources assets and capital strength.Among the financial institutions which develop asset management business,bank and insurance is inferior to the securities company on product design ability,trust and fund is inferior to securities company on sales ability.Securities company has the four ability at the same time,so the securities company itself have congenital advantage of the ability to develop asset management business.For the foreign mature capital market,The main profit source of investment Banks is asset management business income.There are two main reasons why securities company asset management develop slowly in our country.First,the asset management in our country has been regulated strictly for a long time.And second,the system of the capital market is not perfect enough,the directly proportion of institutional investors is low,and the savings rate is higher for individual investors.Influenced by the economic downturn,the asset management industry in our country is facing the challenge of asset shortages.In order to attract potential investors,securities firms should upgrade its strategic by product transformation,and study the success mode of securities companies abroad to fractionizing the market,and development multiple products which can meet investors different asset management demand.At the same time,securities company must pay attention to the coordination of department in the company,take advantage of the traditional business to drive the rapid development of asset management business.Of course,asset management business can lead the transformation of traditional business.Based on the "Great asset management" era and the current economic situation,First of all,the article analyzes the specific content of the background of the"Great asset management",and the development of the asset management business of the financial institutions under this background.And then take Morgan Stanley and CITIC for example,and analyze the mode of the asset management business of securities companies both at home and abroad in order to provide reference for our country.As the "Great asset management" has been put forward for five years,the development of the asset-management business of securities companies is facing a new situation,so this article analyzes the current situation and existing problems in the new period.Then this paper combine the market situation to discuss the current innovation mode of securities asset management business in detail.In the end,based on the previous analysis,from the improvement of the organizational structure,risk prevention and control,product design and product marketing etc.to summarize the development strategy of the asset management business of securities companies in our country.