How Much Room For Development Of Public Funds?

Recently, there are many news about the scale of public offering fund.

First, the public fund continued in the first half of this year.

People remember that by the end of 2007, its scale had exceeded 3 trillion and 200 billion yuan, and 5 years later, it was basically in a situation of no progress or retreat.

On the other hand, there are more than 10 funds under the current scale of less than 50 million yuan. According to the regulations, if these funds can not get more than 50 million yuan in six months, they will be liquidated.

That is to say, China's public offering fund has encountered for the first time because of insufficient scale.

Obviously, for the current public fund, the scale has become a barrier which can not go around, which constitutes a clear constraint on its development.

Some people say that this is because the stock market is not good and the fund is generally losing money, so investors are unwilling to buy it.

In the future, if the market is good, the fund can bring profits to everyone, and the scale can still be bigger.

Of course, this is reasonable, but it does not seem to be comprehensive.

Because in 2009, the stock market had seen a doubling of the stock market, but in this year, the scale of the fund has not increased. On the contrary, the scale of the fund has shrunk to 500 billion yuan.

This shows that the scale of the fund is certainly related to the market, but it does not just depend on the market.

To think more deeply, the essence of the question may be whether the size of the fund is related to the total market demand, so there is a phased upper limit, or is it in the process of development?

From this perspective, how much room for development of China's public offering funds?

This is a very interesting question and worth studying.

However, relying on the relevant data, it is not easy to make a rational judgement. After all, the aggregate demand of the market is not so easy to calculate, and the buyers of the fund are ordinary people. In a new and pitional market, the investment tendency is not so easy to grasp.

However, people can use overseas relatively mature market conditions as a reference.

For example, China's Taiwan is also a relatively developed area of public funds, and its scale is of great reference value to mainland China.

The reality is that the scale of the public offering fund in Taiwan is about about 100000000000 yuan, and its GDP is about 3.8 billion yuan.

Assuming that this is a relatively reasonable scale of a relatively mature market, it is deduced that the scale of the mainland's over 40 trillion yuan GDP is about 1 trillion and 100 billion yuan in proportion to the proportion of Taiwan, which is only half that of the current level.

Of course, in recent years, the mainland has witnessed rapid economic development and rapid growth of capital markets. There are opportunities for extraordinary development of investment products including public funds, but in general, this extraordinary development is always limited and cannot be overdone.

From this perspective, perhaps the scale of public offering funds in mainland China is large enough and has gone beyond the normal level of development, so it is not surprising that the scale bottleneck is now encountered.

In other words, in such an environment, public funds may encounter problems of scale in a number of years, even when the stock market performs better.

Perhaps the public fund holders may not be willing to accept this, but even if they are helpless, this is also an objective reality.

What's the point in understanding this?

In fact, it is very simple, when investors see