Study On The Efficiency Of Lu'an Industrial Investment Company Project Leading Fund

Since China's first government guiding fund established in 1999,it has become a n important way to solve the financing problems of small and medium-sized enterpris es,enhance the ability of independent innovation,and support the development of loc al economy.In recent years,along with the "double push" policy,the Chinese govern-ment guiding fund develops very quickly.The relevant data shows that at the end of 2016,the number of government guiding fund reached 901,total size had more than 2.3 trillion yuan.In order to meet the needs of economic development,Lu'an industrial investment and Development Co.Ltd.commissioned by the Lu'an municipal governmentset up a total size of 700 million yuan of government leading equity investment fund-Lu'an industrial investment company leading fund in 2011.At present,the fund has played an important role in promoting the structural reform of the supply side of Lu'an,promoting the development of strategic emerging industries and promoting the transformation and upgrading ofLu'an's economy and so on.However,since the establishment of the fund,it is in a low efficiency state and also faces many problems and challenges,such as the weak market operation ability,the low rate of return on investment,fund management ability is insufficient,exit channel is not smooth and so on.So how to manage the fund well and improve the fund operational efficiency is a key problem to be solved at present.This paper is divided into five parts to study the operation efficiency of Lu'an industrial investment fund.The first chapter mainly discusses the efficiency of Lu'an industrial investment project leading fund which is of great strategic significance to further promote the development of local venture enterprises,increase the leverage of financial funds and promote the efficient operation of the economy.The second chapter introduces fund's operation management mode,operation efficiency and so on.In this part,based on the theory of public finance and principal agent theory,the author puts forward that the fund how to follow the principle of market-oriented operation and improve the efficiency at the most.The third chapter relies on the operation status of Lu'an industrial investment project leading fund,summarizes the effectiveness of the operation and the main defects of efficiency,and analyzes the main causes of the efficiency defects.The fourth chapter is case analysis,and draws the inspiration from the effective operation of the fund.The fifth chapter puts forward some countermeasures and suggestions on how to improve the financing efficiency,investment efficiency,management efficiency and exit efficiency of the Lu'an investment fund.