| China’s futures companies began to develop asset management business in 2011.After several years of development,great achievements have been made.However,compared with the entire asset management industry,the asset management business carried out by futures companies is still in the initial stage of development.By the end of 2018,117 futures companies and 11 futures subsidiaries had carried out asset management business.A total of 7144 collective plan products had been issued.The scale of asset management was 127.6 billion,which accounted for a relatively small proportion of the total scale of asset management business.Starting with the emergence and development of asset management business of futures companies in China,this paper introduces the background,development stage,development advantages and achievements of asset management business of futures companies in China.This paper further introduces the investment strategy,risk control,operation process and personnel construction of China’s futures asset management business,and analyses the competitive environment of China’s futures asset management business.Under the background of financial deleveraging,structural reform of economic supply side and industrial transformation,the asset management business of futures companies still has a lot of room for development,but the strategy needs to be further improved and innovated.This paper chooses the asset management business of MM Futures Company,the leading futures company,as an example,and introduces its asset management plan and achievements in five aspects: team building,risk control,operation process,investment strategy and integration of investment and research.It also specializes in wealth management,enlarges cooperation fields and poor product design of the asset management business of MM Futures Company.Four development strategies of alienation and procedural investment strategy are analyzed in order to draw lessons from the successful experience of MM futures company’s asset management business and put forward reasonable suggestions for the development of China’s futures asset management business.This paper holds that,with the rapid development of China’s economy and the enhancement of the awareness of wealth management of enterprises and residents,there is a huge space for the development of futures asset management business.However,in view of the above analysis,futures companies need to implement dynamic management of futures company’s asset management business in the light of the actual situation of market development.That is to say,they should improve their asset management strategies from the following aspects.The bank continuously improves and innovates: first,it pays attention to the cultivation of talents in futures asset management and implements the strategy of "big capitalist management";secondly,based on the reality of futures market,it implements the strategy of differentiated products;thirdly,it gathers team strength to promote the strategy of integration of investment,research and cash flow;fourthly,it makes full use of quantitative tools to adhere to the development of diversified investment strategies;fifthly,it pays attention to people;The application of AI in futures management highlights the strategy of leading science and technology.In a word,the asset management business carried out by futures companies in China is still facing great challenges and needs improvement and innovation in many aspects.This paper aims at this point and hopes to put forward useful suggestions for the development of asset management business of futures companies. |
