论文标题:中国基金管理公司的竞争策略研究
Design of Performance Appraisal for Managers in Shenzhen Huaxiang Circuit Tech Co.Ltd.
论文作者 武腾龙
论文导师 杨丹,论文学位 硕士,论文专业 工商管理
论文单位 西南财经大学,点击次数 139,论文页数 88页File Size682k
2005-05-01论文网 http://www.lw23.com/lunwen_858502/ 证券投资基金;基金管理公司;竞争策略研究
Security Investment Fund; Fund Management Company;Competition Policy Research
在“超常规发展机构投资者”政策的指导下,中国证券投资基金经过7 年多的发展,目前已成为中国证券市场上重要的机构投资者。随着外资进入的加速及混业经营趋势的强化,中国基金业将步入群雄逐鹿的时代,基金公司的激烈竞争已经无可回避,越来越多的基金业人士意识到,全行业的大洗牌即将到来,甚至有人认为2005 年就是中国基金公司的淘汰年。短暂的发展历程,我国基金管理公司所积累的优势和经验,与国外成熟的资产管理公司相比,在资产资本实力、管理经验、专业技能、投资理念、业务创新和客户服务等方面,还存在很大差距。外资机构进军中国基金市场,将对我国基金公司形成强大的竞争压力。而我国金融领域混业经营渐行渐近,银行、保险基金管理公司的加入将强化国内基金市场的竞争局面。基金公司的资金主要来源于发行基金单位,实现筹资。良好的筹资策略对于其资金规模有至关重要的作用。而基金公司运作的最终目的是为投资者实现利润最大化,基金管理人必须根据这一目标,提高基金管理业绩,才可能赢得更多更忠实的客户。所以,基金公司的发展与竞争最终落实到筹资与投资两个方面,而竞争的核心必然是筹资和投资“策略”的竞争。从长远发展看,如何培育核心竞争力是任何企业发展的战略课题,这对我国基金公司同样重要。鉴于此,笔者撰写了“中国基金管理公司的竞争策略研究”这篇文章,系统研究了我国基金市场环境和发展前景,我国基金管理公司的竞争现状和存在的问题。并根据我国基金市场的筹资、投资环境的现状和发展方向,在研究、借鉴国外基金发展经验的基础上,为我国基金管理公司“筹资”和“投资”等竞争策略方面贡献了一些自己的建见。同时对我国基金管理公司长远发展关于核心竞争力的培育提出了一些前瞻性的建议。本文将基金公司的筹资和投资作为系统工程进行研究。由于目前
Under the guidance of policy, “Development institute investor at extraordinary scale”, Chinese Security Investment Fund has become a major institute investor on Chinese security market over seven years of development. With the accelerating inflow of foreign fund and the tendency of intensified diversified business operating, Chinese fund industry has become a free competition market, and fierce competition become inevitable. More and more people who engaged in fund operation gradually realize that major reform on fund industry will occur, Even worse, some people think that 2005 is a kick-out year for fund company in China. Compared to experienced foreign management company, major gaps still exist in terms of capitalization, management skills, investment philosophy, business innovation, and customer service due to short-term of development history. The entry of foreign-funded Chinese fund market will bring fierce competition pressure to Chinese fund companies. The tendency to diversified business operating on financial industry, and participation of banking, insurance fund management company on fund market will enhance competition. Capital of fund company is from fund issuing organization. Smart investment policy makes a critical role in capital scale. The ultimate purpose of fund company is to maximize profit for investor. According to this purpose, fund operator must improve business performance to persuade more and more loyal customers. Therefore, the development and competition of fund company will focus on investment and finance. The core of competition must be policy competition between finance and investment. In the long term, how to cultivate core competition edge is a common issue for the development of enterprise, also equal important for
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