Despite the speedy expansion in recent years , there still remains huge space and potential for the chinese fund to develop in comparison with the developed countries and many other developing countries 近年来虽然中国基金发展迅猛，但与发达国家及其他发展中国家相比，中国的基金业发展尚存在巨大的发展空间和潜力。
Jpmorgan fleming asset management ( uk ) co ltd now joins hands with shanghai international investment and trust co ltd to present the first - class fund management joint venture in china 摩根富林明资产管理（英国）有限公司现携手上海国际信托投资有限公司，致力于建立一流的中国合资基金公司，打造中国基金业的旗舰品牌。
Aiming at the existing problems , our reform measures should include : configurate a legal system , improve the corporate governance , strengthen the outside supervision and the industrial self - discipline , upgrade the quality of listed companies and cultivate professional fund managers 针对现存的主要问题，改革中国基金业的主要措施应包括：确立法律基础、完善法人治理结构、加强外部监管和行业自律、提高上市公司质量及培养基金管理专业人士等。
Since the first mutual fund was put on sale in september of 2001 , the mutual fund has stepped into fast - developing period in our country . as one of the financing tools , open - end funds have the character of buying or selling fund shares anytime , which contents to the require of dynamic balance between liquidity and yield of investers in securities business . so , they had compelling achievement during the stagnant market . in the base of yinhe fund research center ’ s date about funds in china in 2005 , china funds ’ net value breakthrough rmb 400 billion for the first time to rmb 417 . 8 billion . open - end funds ’ size percentage to total funds ’ size in china have raise from 75 % to 81 % . in 2004 , there emergence the size of rmb 10 billion stock fund which first launch . but , whether this big size fund can fit well in our capital market in general 作为一种理财工具,开放式基金以其特有的“可随时申购与赎回”的制度安排,较好地满足了证券市场上投资者在资金的流动性与收益性之间的动态平衡的要求。因此,在并不景气的证券市场上,开放式基金取得了令人瞩目的成绩。根据银河基金研究中心对中国基金业2005年上半年数据的统计,中国基金业净值规模首次突破四千亿大关,达到了4178亿元。
This thesis analyzes foreign variety innovation course , its thought and types , and the interior reasons that china fund variety innovation lags , then bring forth a three - phase course of china fund variety innovation according to layer 、 phase and sort , also some advice improving china fund management company ' s variety innovation capability 本文通过对国外基金品种创新进程、创新思路、创新类型以及中国基金品种创新滞后的内因的分析，提出了分层次、分阶段、分类别规划我国基金品种创新的三阶段进程，以及提高我国基金管理公司品种创新水平的若干建议。
Based on the comprehensive remark on the studies of the performance , the paper impersonally answers the applicability of them in china and works over the net value index validity . then the thesis makes a qualitatitive analysis and quantitative analysis with empirical study and draws a conclusion that chinese investment funds had a worse performance . in addition , the paper does a multi - fact regression analysis of the performance and finds that the performance recked its stock ' s concentricity , investment manner , funds size and market place to heavens . and the paper studies the causes that the investment funds ' performance did n ' t do well in china including deficiency of the funds handlers " art , irrationality of inspirit mechanism for " insider control " and shortcoming of exterior environment by reason of malformation of money market and profolio funds market . finally , the paper gives some policy suggestions to make chinese investment funds do well according to the paper ' s analysis that we should cultivate a full - blown paper market with sufficient fair competition and construct a effective inspirit mechanism with a watch system and macro condition of assurance for market order . otherwise , the text reviews the analysis methods used in it and the conclusion briefly , and has a primary thought over the follow - up study of the performance 运用计量分析的方法，对国内的投资基金特征作了定性和定量研究，得出我国投资基金弱绩效的结论；应用计量模型，通过多因素回归分析发现：中国基金绩效与基金的持股集中度、投资风格、规模大小及上市地点显著相关。应用定性分析和数学论证的方法，揭示出导致我国投资基金弱绩效的原因：基金经理人的管理技术欠缺、 “内部人控制”所导致的激励机制不合理以及金融市场的畸形所导致的外部环境的欠缺。依据此分析和结论为基础，对进一步改善我国投资基金绩效提出了相关政策建议和制度设计，建议从微观和宏观两个层次上协调并进，培育一个成熟的充分公平竞争的证券投资市场，构建有效的激励机制；还要有一个保证市场秩序的监管体系和宏观环境，并完善我国基金绩效评价体制。
However , in the primary process of funds industry in china , it is also inevitable to research and analyze the internal considerations that performance effect is formed . in addition , with the more varieties of funds and further research on the evaluation on the performances of security investment funds , we should also give more concerns to the performance differentials of different types and different styles of investment funds 绩效指标的测算固然有其必要性，但在当前中国基金业刚刚起步的阶段，深入分析，探讨形成绩效结果的内在原因也是不可或缺的；同时，随着基金品种的丰富，证券投资基金绩效的研究与评估，也应更多地关注不同类型和投资风格基金之间的绩效差异。
In the second part , we describe fund management company ’ s position in the capital market and introduce some basic situation of chinese fund industry and chinese fund management companies . then this paper analyses chinese fund management companies ’ special ownership structures , and what different behaviors and performances it lead to in the market 在第二部分,文章描述了基金管理公司在资本市场的定位、角色,介绍了中国基金业以及基金管理公司的基本情况,并着重分析了中国基金管理公司特有的股权结构发展历程以及由此产生的在资本市场中的运作行为差异和旗下基金的业绩表现差异。
