Public Funds Are Ushering In A New Stage Of Development.

In recent years, the development of China's asset management industry has gradually formed a diversified institutional investor team, including public offering funds and private equity funds. The scope of self-regulation and service of the China Securities Investment Fund Association has also been expanded from public funds to all kinds of information management businesses.

In order to continue to promote the institutional advantages of the public fund and strengthen the research on the key issues in the field of public fund raising, the association has prepared a public fund Specialized Committee.

China Securities Investment Fund Association public fund Specialized Committee 24 held a meeting in Beijing.

The conference exchanged the development of the industry, clarified the responsibilities of the committee, identified the next key work, and discussed the related issues of liquidity risk management of public offering funds in recent years.

The Committee held that

At the beginning of its development, it adheres to standardized operation and openness and pparency. As a public financial tool, it has done a lot of work to meet the investment management needs of small and medium investors, create profits for investors, and popularize the correct concept of investment and financial management, and fully embody its institutional advantages and institutional advantages.

Since the establishment of the open-end fund to the end of 2016, the annual yield of partial funds has averaged 16.52%, which is 8.77 percentage points higher than that of the Shanghai Composite Index in the same period. The annualized yield of bond funds is 8.05% on average, and the benchmark bank interest rate is 5.3 percentage points over the 3 year period. Up to the end of 2016, the public fund has accumulated dividends to holders of 1 trillion and 470 billion yuan, which is a long-term trust fund.

People have created considerable relative returns.

After nearly 19 years of development, the environment of the public offering fund has undergone great changes. The demand for asset allocation of institutions and residents has gradually increased, investment types have been continuously enriched, and the recognition of the public funds has been continuously improved, and the public fund is ushering in a new stage of development.

To serve the real economy and help supply side structural reform as the focus, we should develop products that conform to market development and meet the needs of investors' wealth growth, and explore the path of specialization and differentiation.

The Commission will also set up various professional teams in the next step to promote the pformation of the industry in terms of products and governance.

The Committee stressed that China's public fund industry has established a relatively sound legal system.

With the development of the market, new changes have taken place in the management scale and investor structure of public offering funds, which pose new challenges to the investment management ability and risk control ability of public offering funds. The ability to manage risks and gain risks has become the core competitiveness of asset management institutions.

Fund managers should have awe of the market and improve liquidity management.

To enhance the awareness of active management of wind control, change the reliance on laws and regulations as a wind control standard in the past, avoid possible fluke psychology of regulatory assistance, pform the external requirements of risk supervision into endogenous driving force, and actively improve the internal risk management system according to their own circumstances, and build the "first line of defense" for risk control.

While doing daily risk management, fund managers should also be good at using market means to defuse liquidity risk and treat holders' interests fairly.

Only if every fund manager carries forward the craftsman spirit and aims at building a "century old shop" as well as enhancing his sense of responsibility and taking precautionary measures, can he fully protect the interests of medium and long term investors and ensure that the foundation industry of the fund industry is evergreen.

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