Research On Liquidity Risk Of Internet Funds

In the report on the work of the two governments in 2015,the "Internet + Action Plan" was first included in the national strategy,and Internet finance was once again a hot topic.Internet finance refers to relying on large data,cloud computing methods,network payment,mobile software and other Internet tools,to achieve the traditional financial financing matching function of the new financial category.Internet funds as the most representative of the Internet financial products,both the property of the Internet industry and the characteristics of traditional funds,and the risk of these two industries superposition of the characteristics of the Internet fund is easy to make the risk of more traditional fund industry more difficult to estimate and Prevention and control.Liquidity risk is the main risk faced by Internet funds,while its size is expanding,but also to make its liquidity risk continues to expand.The management of liquidity risk of Internet funds has become an urgent problem to be solved at present.Based on the analysis of the current research situation at home and abroad,this paper points out the innovation and the shortcomings of this research,based on the related research ideas and research methods,based on the research purpose and the research significance of the Internet fund.The place.This paper makes a comprehensive analysis of the current situation of the liquidity risk of Internet funds,and makes a detailed literature review on the Internet fund,the Internet fund risk and its liquidity risk status,and finds out the shortcomings of the existing research.On the basis of the analysis of the theory,the paper analyzes the liquidity risk of the traditional money market fund and the Internet fund,and discusses the causes and influencing factors of the liquidity risk.Based on the characteristics of the Internet Monetary Fund,the main factors influencing the liquidity risk of the Internet fund are the scale of the fund,the configuration of the assets,the operating performance and the structure of the holder.Based on the idea of liquidity risk measurement for the spread of open-end funds,this paper constructs a measure model L_VaR for the liquidity risk of IMF funds and Internet funds.L_VaR is used to describe the liquidity risk of traditional fund and internet fund,and the difference between the liquidity risk and the Internet consumption attribute is analyzed with the balance treasure as the example,and the holiday effect is pointed out.Finally,the paper establishes the cash retention model for the Internet fund,and puts forward the countermeasures from the investors' rational investment,the retention and redemption of the balanced fund,the improvement of the government supervision system construction,the effective development and standardization of the market and the diversification of investment management Measures for the Internet fund liquidity risk management to provide a reference.