本文選題：對(duì)沖基金　切入點(diǎn)：投資策略　出處：《上海交通大學(xué)》2013年碩士論文

【摘要】：隨著國(guó)內(nèi)股指期貨和融資融券機(jī)制的推出，使得對(duì)沖基金的出現(xiàn)和發(fā)展成為可能。在今后一段時(shí)間里，中國(guó)的對(duì)沖基金將迎來(lái)大發(fā)展時(shí)期。 對(duì)沖基金可以采用賣(mài)空的方法來(lái)對(duì)沖市場(chǎng)風(fēng)險(xiǎn)，投資策略豐富多樣，，與傳統(tǒng)投資的相關(guān)度低，能夠滿足投資人對(duì)于多元化投資和分散風(fēng)險(xiǎn)的要求。而對(duì)沖基金采用高杠桿的方式來(lái)擴(kuò)大其投資收益，也使得投資回報(bào)相當(dāng)可觀。 國(guó)外的對(duì)沖基金已經(jīng)經(jīng)過(guò)了數(shù)十年的發(fā)展，相對(duì)較為成熟，國(guó)內(nèi)的對(duì)沖基金則剛剛起步，基于國(guó)內(nèi)市場(chǎng)環(huán)境下的對(duì)沖基金相關(guān)研究較少。本文對(duì)對(duì)沖基金的概念、歷史以及現(xiàn)狀進(jìn)行了闡述，詳細(xì)地描繪了對(duì)沖基金的投資策略，介紹了中國(guó)在2010年推出的融資融券和股指期貨，并利用融資融券和股指期貨推出后中國(guó)市場(chǎng)上可獲得的公開(kāi)數(shù)據(jù)來(lái)進(jìn)行實(shí)證研究，證明在中國(guó)市場(chǎng)的環(huán)境下，采用對(duì)沖基金策略可以對(duì)沖市場(chǎng)風(fēng)險(xiǎn)，使組合收益與市場(chǎng)走勢(shì)有較低的相關(guān)度，有效降低了組合的總體風(fēng)險(xiǎn)。最后，對(duì)全文進(jìn)行總結(jié)，并指出對(duì)沖基金在國(guó)內(nèi)市場(chǎng)環(huán)境下遇到的一些限制，以及給出了改進(jìn)的若干建議。
[Abstract]:With the introduction of domestic stock index futures and margin financing mechanism, the emergence and development of hedge funds is possible. Hedge funds can use short selling to hedge against market risk, with diverse investment strategies and low correlation with traditional investments. Hedge funds use a highly leveraged approach to expand their investment returns, which also makes their investment returns impressive. Foreign hedge funds have been developed for decades, relatively mature, domestic hedge funds are just beginning, based on the domestic market environment of hedge funds related research is less. This paper on the concept of hedge funds, The history and present situation are described, the investment strategy of hedge funds is described in detail, and the financing margin and stock index futures launched in China in 2010 are introduced. Using the open data available in the Chinese market after the introduction of margin and stock index futures, it is proved that the hedge fund strategy can hedge the market risk in the Chinese market environment. So that portfolio returns and market trends have a lower correlation, effectively reduce the overall portfolio risk. Finally, the paper summarizes the full text, and points out that hedge funds in the domestic market environment encountered some limitations, Some suggestions for improvement are also given.
【學(xué)位授予單位】：上海交通大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2013
【分類(lèi)號(hào)】：F832.51

【參考文獻(xiàn)】

相關(guān)期刊論文 前2條

1 張樹(shù)德;;沖基金投資策略演變[J];企業(yè)導(dǎo)報(bào);2009年05期

2 劉瑩;;對(duì)沖基金投資策略在國(guó)內(nèi)運(yùn)用的探討[J];運(yùn)城學(xué)院學(xué)報(bào);2008年06期

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