The Research On Investment Performance And Influencing Factors Of QDII

Qualified domestic institutional investors(QDII)refers to the securities market,which is not yet fully opened,is set up in the territory of a country,approved by the relevant state departments,allowing domestic institutional investors to invest in foreign capital markets,bonds,stocks and other securities investment business Arrange the arrangement of the investment institutions.At present,individual investors can not directly to overseas investment,only through the QDII agency products indirectly to foreign investment,QDII agency products,including the Department of Banks QDII,the Department of Funds QDII,insurance QDII,etc.,the most important of which is the Fund QDII.Therefore,the study of QDII fund overseas investment situation,the QDII fund investment performance and risk evaluation,analysis of investment performance and risk factors,to further improve the QDII fund and QDII2 development has theoretical value and practical significance,can be China's capital overseas To provide experience in financial investment.Based on the theory of fund investment and transnational investment,this paper analyzes the development of QDII fund in China and compares it with the performance of non-QDII fund.It is found that QDII fund investment performance lags behind non-QDII fund from 2008 to 2015.But during the financial crisis,QDII fund investment performance is better than non-QDII fund,and the overall risk is smaller.In order to explore what factors are the main factors that affect the investment performance and risk of QDII fund,this paper selects four important indexes such as RMB exchange rate,market index change rate,industry concentration degree and regional concentration degree,and studies the QDII fund investment The impact of performance,in the control fund size,fund family size,cost rate,fund set up time and other variables found that the overall exchange rate of RMB,the market index rate of change,the industry concentration of QDII fund investment performance significantly positive,and regional concentration No significant impact on fund performance.At the same time,also found that the RMB exchange rate,market index changes,industry concentration and regional concentration on the impact of different investment areas there are differences.Finally,on this basis,the countermeasures and suggestions to promote the development of QDII are put forward.