Optimization Scheme Design Of Structured Fund Based On Leverage Perspective

Structured fund,also known as structured fund,is a kind of fund with two(or more)levels of risk return performance with a certain difference of fund shares through the decomposition of fund income or net assets in a portfolio.Leverage effect is the most important feature of structured mutual funds compared with other general funds.By studying the development and status quo of structured mutual fund market in China,this paper analyzes the leverage situation of structured mutual fund products in the market.The main purpose is to study the situation that structured mutual fund causes huge losses to investors when it folds under high leverage ratio,and then design corresponding solutions to this problem through research.This paper studies from the following five parts.The first part is the introduction of this paper,in which the research background and significance of this paper are elaborated.Meanwhile,the research results of previous scholars are summarized,the research methods and ideas of this paper are explained,and the difficulties and innovations in this paper are pointed out.The second part is the classification of fund development and the current classification of fund since 2007,a brief introduction of the current situation of then rating fund rating fund in our country it is pointed out that at present,there is the highest leverage on the high side,conversion valve value is low,and the premium rate on the high side three questions,and these three questions in the market fell when investors face the risk of big losses;Secondly,the paper analyzes these three problems.The third part is the core of this paper.Firstly,this part expounds the idea and operation principle of the optimization scheme,and then discusses the selected parameters.After the parameters,it introduces the selected target fund,and analyzes the net leverage,price leverage,premium rate and a series of indicators of the target fund.At last,the loss of each conversion threshold under the improved scheme is calculated by empirical simulation,and the final result is shown by the loss coefficient.The fourth part makes a comparative analysis of the empirical results and the loss coefficients at different conversion thresholds.The optimal interval is selected as the optimization results of the whole scheme through the size of the loss coefficients and the frequency of conversion at different conversion thresholds.The results show that increasing the conversion threshold can reduce the loss of investors.PEST method is used to analyze the feasibility of the program in four aspects of policy,economy,society and technology,and prove that the program is feasible.Finally,the risk of increasing the conversion times may be brought by the optimized scheme.In the fifth part,through the results of the scheme,the author puts forward four relevant Suggestions for structured mutual fund:reducing the maximum leverage ratio,strengthening the education of investors,improving the risk warning and creating a market environment.