發(fā)布時間：2018-03-03 08:40

  本文選題：開放式基金　切入點(diǎn)：風(fēng)險　出處：《復(fù)旦大學(xué)》2014年碩士論文　論文類型：學(xué)位論文

【摘要】：隨著我國市場經(jīng)濟(jì)的發(fā)展和對外開放的擴(kuò)大,我國的證券投資基金產(chǎn)業(yè)將有廣闊的發(fā)展前景。2004年《國務(wù)院關(guān)于推進(jìn)資本市場改革開放和穩(wěn)定發(fā)展的若干意見》中指出,要繼續(xù)大力發(fā)展證券投資基金；同年《證券投資基金法》及其六個配套法規(guī)正式實施,進(jìn)一步表明我國的基金業(yè)面臨著良好的、快速的發(fā)展時期。與此同時,基金的發(fā)展壯大,對其投資理念也提出了新的要求,穩(wěn)健投資,作為追求穩(wěn)定回報和回避市場風(fēng)險的一種投資風(fēng)格,越來越受到基金管理公司的重視和采納。穩(wěn)健投資,隨著證券市場的成熟和投資者對風(fēng)險、收益的特殊要求,必將成為今后主導(dǎo)市場的一種有效的投資模式。然而對于穩(wěn)健投資,雖然多有提起,但一直局限于回避風(fēng)險的表層概念上。在證券投資領(lǐng)域,雖然穩(wěn)健投資原則得到絕大多數(shù)投資者的認(rèn)同,但至今還只是停留在理念的階段,沒有形成其豐富的研究體系。因此本文嘗試性對此進(jìn)行了研究。首先概述了投資基金和投資組合的基本理論,然后在“均值一方差”模型的基礎(chǔ)上引入“流動性”因素,在綜合考慮收益、風(fēng)險和流動性三方面對投資組合的影響下,探索了穩(wěn)健型投資模式的構(gòu)建,并利用股市數(shù)據(jù)作了實證分析。
[Abstract]:With the development of China's market economy and the expansion of its opening to the outside world, China's securities investment fund industry will have broad prospects for development. In 2004, the State Council pointed out in the State Council's views on promoting the reform and opening up of the capital market and the steady development of the capital market. It is necessary to continue to vigorously develop securities investment funds; in the same year, the Securities Investment Fund Law and its six supporting laws and regulations were formally implemented, which further shows that the fund industry in China is facing a good and rapid development period. At the same time, the development of the fund has grown stronger and stronger. As a kind of investment style of pursuing stable return and avoiding market risk, it has been paid more and more attention to and adopted by fund management companies. With the maturity of the securities market and the special requirements of investors for risk and return, it will become an effective investment mode for the dominant market in the future. However, it has been confined to the superficial concept of risk avoidance. In the field of securities investment, although the principle of sound investment has been recognized by the vast majority of investors, it has so far only remained in the conceptual stage. There is no rich research system. Therefore, this paper tries to study this problem. Firstly, the basic theory of investment fund and portfolio is summarized, and then the "liquidity" factor is introduced on the basis of the "mean difference" model. Considering the influence of return, risk and liquidity on the portfolio, this paper explores the construction of a robust investment model, and makes an empirical analysis by using stock market data.
【學(xué)位授予單位】：復(fù)旦大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2014
【分類號】：F832.51

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本文編號：1560311