开放式基金与封闭式基金的投资风险比较.docxVIP

PAGE PAGE 19 中文摘要 近些年来，随着开放式基金的蓬勃发展，封闭式基金的发展也随之受到一定的影响。在开放式基金快速增长的投资环境下，封闭式基金能否与开放式基金并肩发展，收获更多忠实用户。我国基金业的发展速度及其风险评和价绩效造成了一对不可抗逆的矛盾，对我国的基金管理者、基金投资者和相关监管部门造成了极大的不便。所以，目前迫切需要对我国的基金业的投资风险进行更深一步的研究。本文通过分析封闭式基金与开放基金的风险现状、问题和影响因素的基础上，结合基金发展情况，通过对比分析两种基金的风险并寻找我国开放式基金与封闭式基金两者存在的风险，以期找出两种基金的风险差异，并找出规范有效的基金风险管理和防范的相关措施。 关键词：风险比较，流动性风险，赎回风险，“封转开”， Abstract In recent years, with the booming development of open-end fund, the development of closed-end fund is also affected to some extent. In the investment environment with the rapid growth of open-end funds, can closed-end funds develop side by side with open-end funds and gain more loyal users? The development speed of Chinas fund industry and its risk evaluation and price performance have caused a pair of indefensible contradictions, which have caused great inconvenience to Chinas fund managers, fund investors and relevant regulatory departments. Therefore, it is urgent to conduct a further study on the investment risk of Chinas fund industry. In this paper, by analyzing the closed-end funds and the risk of open fund and the influencing factors on the basis of the current situation and problems, combined with the conditions of fund development through comparative analysis of two kinds of funds and find the risk of our open-end fund and closed-end fund risk, in order to find out two kinds of fund risk difference, and find out the effective fund risk management, and prevention measures. Key words: Risk comparison, Liquidity risk, Redemption risk, Closed to open, 目录 TOC \o 1-3 \h \z \u 中文摘要 I Abstract II 1.绪论 1 1.1.研究的问题与背景 1 1.2.研究的意义 1 1.3.国内外研究文献综述及发展趋势 2 1.3.1.国内研究情况 2 1.3.2.国外研究情况 3 1.3.3.研究的发展趋势 3 1.4.研究方法 3 2.开放式基金与封闭式基金的风险现状 4 2.1. 缺少有效的避险工具 4 2.2.用户投资意识薄弱，存在投机心理 4 2.3.公司经营能力存在缺陷 4 3. 开放式基金与封闭式基金现存风险的问题 5 3.1资金资源分配不合理 5 3.2基金结构雷同化 5 3.3基金风险管理认知程度低 5 3.4法律监管问题难以解决 6 4.造成开放式基金与封闭式基金面临风险的原因 6 4.1风险对冲机制稀缺 6 4.2价值投资意识薄弱 6 4.3缺乏良好的基金营销体系 7 4.4证券市场深度不够