Research On Risk Ass Essment System Of Gansu Green Mineral Fund Investment Project

Gansu Green Mineral Fund(hereinafter referred to as "GGMF")is a private equity fund managed by Gansu Financial Holding Fund Management Co.,Ltd to invest in green mineral projects,green mineral supporting projects and related proj ects.All kinds of risks are involved in the operation and managem ent of the fund,among which investment risk is a very important risk for the fund.The fund investment risk is reflect ed in the project risk underestimation,risk mis judgment,high project valuation,lack of risk control measures and uncontrollable factors,resulting in uncertain investment retuns and even loss of principal,mainly from the fund manager's improper operation and the risk of the project itself.Project risk is caused by project-specific factors and the reasonable assessment of project risk is the premise of making investment decision.GGMF invests in mining projects.usually with large investment,long investment term,few exit channels,and high risk of mining enterprises,so the risk of investment projects is greater.This article investigated the current situation of GGMF in investment project risk evaluation,found that the funds for investment project risk assessment is only on the basis of project staff professional knowledge and experience to make intuitive judgment risk,lack of system analysis and the quantitative evaluation process:existing methods can't estimate the project overall risk level,strong subjectivity and random,the fuzzy risk assessment results is not conducive to investment decision and control risk.It is believed that the establishment of risk assessment system for investment projects can improve the present situation.Through the literature and based on the related research results at home and abroad for reference,based on the theory of information asymmetry,risk management and so on,using Delphi method to identify the fund investment risk of the project,the constriction of a multi-level risk assessment index system,using analytic hierarchy process(AHP)to determin e the system weights of risk factors and risk evaluation rules set up by using the fuzzy comprehensive evaluation method,comprehensive evaluation of project risk.The research in this paper shows that the risk assessment system of investmentproject can be constructed by combining qualitative and quantitative methods,which can carry out systematic analysis and quantitative assessment of project risk,estimate the overall risk level of the project,and consider the comprehensive impact of the weight of individual factors and the degree of risk occurrence on the overall risk.The application of risk assessment system to obtain the comprehensive assessment result of project risk is helpful for investment decision and risk response.Quantfication of risk is helpful for risk comparison and investment project selection between different projects and risk factors of the same project.The calculation of the comprehensive influence value of a single factor on the overall risk is helpful to find out the main risks and key factors and take risk control measures.In the process of risk assessment,the opinions of many experts are integrated,which reduces the subjectivity of risk assessment and makes the assessment result more objective and reliable.