Research On The Transformation Of The Subsidiary Company's Business Of Fund Management Company

Since 2008,China's asset management industry has been the rapid development of the 2012 birth of the fund management subsidiary(hereinafter referred to as the"fund subsidiary" or "subsidiary")is the boundary of a "dark horse",has gained rapid development,because the business is not restricted by the cost of capital,so that it can be with a cost advantage and quickly seize the business,rely on business low rates has attracted large-scale business channel.With the expansion of the business of the fund subsidiary,the malpractice of the unordered expansion is emerging,and the risk of the industry is constantly accumulating,and the risk events are frequent.In this context,the regulatory authorities for regulation of the industry,industry risk prevention and the strengthening of the consideration of investor protection and other aspects of the regulatory requirements,a subsidiary of the fund is more strict,the constant introduction of new regulations,high pressure regulatory policies continued,the previous fund subsidiary for the survival of the dividend policy disappeared gradually.In the business of the company,the original channel of non-standard business and capital pool business and the main business to continue to develop the glorious past performance is no longer a subsidiary of the fund,standing at the crossroads of transformation,it is urgent to explore a new direction to business development.Unified business regulatory requirements is bound to become the trend of the future of regulation,financial institutions that rely on dividend policy will lose the original soil to survive,and really can make financial institutions and sustainable development in the increasingly fierce competition in the financial industry firm is only its own active management capabilities,so the financial institutions need to return to the main future development the origin of business development,gathering resources of their own,only by this can have long-term competitiveness.Under this background,the fund management subsidiary business transformation focuses on the title,is a subsidiary of the fund after the dividend policy disappear in the future business development,the innovative transformation will experience with trust for the information management mechanism for reference,based on the study of the transformation for fund subsidiary road the.At the same time,regulatory changes in the fund business development subsidiary played a big role,therefore,based on the analysis of the development process of each stage of the fund subsidiary in the analysis of the change of policy after a subsidiary of the fund supervision authorities.Through the analysis of the regulatory policy,it can be concluded that the traditional business of the fund subsidiary in the past can not continue to carry out,and the business transformation needs to be carried out.In the process of writing,this paper uses the method of historical analysis,analysis of the development process of the fund subsidiary,and change the corresponding regulatory policy before and after the stage of development and changes of the resulting business,a subsidiary of the fund analysis necessity of transformation,that is to change the original mode of operation.Comply with regulatory requirements and the development of new business.Then the accumulation in the early business from a subsidiary of the fund,and from the trust company after the bonus system disappeared and the transformation of the road and other aspects of the feasibility of the fund subsidiary business transformation,using a comparative analysis method of fund companies can learn from their experiences with similar development of trust business transformation experience,explore suitable for their own transformation direction.Finally,it puts forward the direction suitable for fund subsidiary business transformation and corresponding supporting measures for transformation,as well as the transformation direction that needs to be persisted in the transformation process.In the future,fund subsidiary can transform to ABS business,PPP business,PE business and FOF business.Because it is hard to avoid facing resources,manpower,supervision and some other problems in the transformation of business,so focus on the transformation of a subsidiary of the fund is to rely on the excellent talents and strengthen the risk prevention and control means to improve the core competitiveness,and follow the corresponding industry in the process of the transition of development principles,to promote active asset management the development of ability,and ultimately serve the entity industry.