Fund: Theory Operation Design

Author: Wang Taoguang
Publisher:
Publish Date: 2001-07-01
Features: Mutual funds (currently referred to as investment funds in China) are a product that emerges when a market economy reaches a certain stage, with substantial accumulation of investment capital, particularly when the financial market matures to a certain extent and financial instruments diversify. As a new investment instrument, it can pool scattered funds from many individuals and institutions through certain mechanisms and entrust them to professional management institutions. It enables a broad range of individual and institutional investors to engage in highly specialized and high-risk investment areas while achieving relatively reasonable returns by reducing risk to a certain extent. The main characteristics of mutual funds are expert management and risk diversification, along with strong liquidity. This book adopts a case analysis approach to provide a relatively accurate and detailed introduction, analysis, and discussion of the concept, operations, historical evolution, legal regulations, market mechanisms, and the role and functions of mutual funds in the world's most developed and representative fund industry in the United States. Based on the experience of mutual fund development in the U.S., the book explores the development models of mutual funds and evaluates the effectiveness and practicality of the U.S. mutual fund development model. The book conducts empirical research on the development of mutual funds in China, proposing goals and directions for their growth. It also provides a detailed analysis of several issues related to the establishment and development of open-ended funds in China, offering original insights. This book is the first academic monograph in China that analyzes mutual funds from a theoretical perspective, featuring comprehensive data, detailed arguments, and innovative viewpoints. It holds significant academic and theoretical value and offers some reference value for the future development of mutual funds in China. The book can serve as a teaching material for universities and research institutions in related fields in China, as well as a training textbook or reference for professionals in securities, investment, and fund management.