The Development And The Design Of Private Securities Investment Funds

In 2007,a vigorous bull market led to the first trend of public offering elite in China's capital market dedicated themselves to private funds.After ten years,private funds have developed from the "unknown" to today's "fame".In the ten years of China's capital market,several rounds of bull and bear market have witnessed the sunshine and standardization of private securities investment funds from the gray zone.The private funds has developed from the 1 billion scale in early 2007 to 12 trillion that exceed the public offering scale.The private securities investment fund scale exceeded 2 trillion and 500 billion,the industry develops rapidly,as a piece of flowers blooming like a piece of brocade.Private securities investment funds have unique advantages in asset allocation,which can not only obtain the extra income of the fund products but also effectively avoid the fall of different markets,and strive for the stable growth of the wealth for the investors.After exploring the development history and current status of private securities investment funds,this paper first discusses the design of private securities investment fund rate from the perspectives of the principal-agent relationship and the current status of China,followed by comparative analysis.Then the article discusses the structural design of private securities investment fund products,selects the types of structures that are more suitable for China's actual situation,and focuses on multi-factor quantitative stock selection strategies in the investment strategy section.Then the paper adopts multi-factor quantitative stock selection methods based on regression methods to do the design of private securities investment funds.The model of private securities investment fund product design provides some theoretical basis and paradigm for the product design of China's private securities investment funds.