Research On Risk Management Of Securities Companies Public Fund Trusteeship Business

The assetcustody business was first developed by the Bank of Scotland,and has a history of over 100 years.As a very effective way to prevent risks,assetcustody system effectively solves the problem of principal agent.China's asset custody business began in 1998 when commercial banks hosted trust funds for closed-end securities investment funds.With the rapid development of China's capital management industry and the deepening of the reform of China's financial system,the fund custodian has already got rid of the restrictions on the trusteeship,and has begun to allow non-bank financial institutions to enter the field of publicfundcustody.In 2013,the Interim Provisions on securities investment fund trusteeship by non-bank financial institutions were issued.The situation of the custodybusiness of commercial bank unified fund was broken,and the securities dealers regained"admission tickets".At the beginning of 2014,Haitong Securities,Guosen Securities and China Merchants Securities were first approved by the SFC to carry out securities investment fund custody.The custody of securities companies began to expand from private funds and securities dealers to public funds and funds.The securities companies are qualified for fund custody,which not only aggravates the competition of the fund custody industry,but also brings new challenges to the securities dealers to expand the new business and improve the risk management of the fund custody.At present,research at home and abroad mainly focuses on two aspects of the positive impact of asset custody and fund custody on securities companies,only a few is the risk for securities companies to custody private equity funds,and this article is a risk management study for securities companies to carry out public fund trusteeship.This paper uses literature research method and inductive summary method to analyze and summarize the relevant research at home and abroad,and adopts the relevant conclusions to refine and form its own point of view.In the risk measurement,it uses quantitative analysis method to measure the risk of Trusteeship of public funds products,and to replace the risk of trusteeship business of public funds.Measure.From the perspective of securities firms'trusteeship products and services,this paper takes the public funds trusted by securities firms as the research object,aiming at analyzing some important factors affecting their business,with a view to providing some suggestions and suggestions for risk management of securities firms' trusteeship business,and contributing a little to the development of securities firms' trusteeship business.