An Analysis On The Influencing Factors Of Internet Monetary Fund Yield

The birth of Yu'E Bao in June 2013 not only changed the pattern of traditional monetary fund sales channels dominated by banks but also opened a new path for the development of monetary fund.As a product of the combination of Internet and finance,Internet Monetary Fund not only forms a strong competition for other financial products,but also has a great impact on regulatory authorities,fund companies and investors.Internet Monetary Fund(IMF)has been favored by investors for its high yield when it was launched.However,in recent years,its yield has been fluctuating,and shows a continuing downward trend.Why the yield of Internet Monetary Fund continues to decline,and what factors affect the yield of Internet Monetary Fund have attracted much attention.The purpose of this paper is to enrich the relevant research on the influencing factors of the return rate of Internet Monetary Fund,enrich the existing theory,and put forward suggestions for the healthy development of Internet Monetary Fund.Firstly,this paper combs the development history and current situation of the Internet Monetary Fund,then summarizes the characteristics of the Internet Monetary Fund,and analyzes the risks of the Internet Monetary Fund.On this basis,this paper theoretically analyses the influencing factors of the return rate of Internet Monetary Fund from three aspects:macro factors,fund characteristics and fund governance,and then uses the method of multiple regression to select appropriate variables from three aspects,and makes an empirical analysis of the influencing factors of the return rate of Internet Monetary Fund.It is found that among the macro factors,interbank lending rate and Shanghai stock index have a positive impact on it,while Treasury bond index has a negative impact on it;among the characteristics of the fund,the time when the fund was established and the historical rate of return have a positive impact on it,but the size of the fund has no significant relationship with it;Among the factors of fund governance,the working life of the fund manager has a positive impact on it,and the fund management fee rate has a negative impact,but the number of fund managers,the turnover of fund managers has no significant relationship with it.Finally,according to the results of empirical analysis,this paper puts forward suggestions for the development of Internet Monetary Fund from different perspectives,such as regulatory authorities,fund companies,investors and so on.