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1.
作为一种风险较低,收益相对稳定的投资工具,开放式基金的吸引力越来越强,代销开放式基金成为银行增加利润的一个新的增长点。在国外,开放式基金的销售渠道包括有商业银行、保险公司、证券公司、投资中心等,其中,商业银行是开放式基金销售的最主要渠道。根据国外有关资料的显示,在欧洲,占85.6%的开放式基金是通过商业银行销售的;在美国及台湾、香港等国家和地区,有50%-70%的投  相似文献   

2.
我国开放式基金的发展进入了营销竞争时代,营销渠道的培育与拓展是提高基金营销竞争力的重要环节。应借鉴国外成熟市场的理念,形成以银行、券商、保险公司及其他基金经纪机构共存的销售方式,实现营销渠道的多元化:中国的基金业还可实施走出去战略,把开放式基金的营销渠道延伸到海外。目前,在深入挖掘银行代销能力的基础上.拓宽营销渠道比较现实的办法是增加券商的代销点,加快包括网上交易在内的营销手段创新。  相似文献   

3.
在开放式基金已经成为居民投资理财的主流产品的今天,基金公司及基金产品正呈现加速发展的趋势,但市场环境并不宽松,基金销售的竞争已经可以说是硝烟弥漫,基金的销售工作也就成为影响基金市场发展的一个重要因素。目前,我国基金销售市场逐渐形成了银行代销、券商代销、基金公刮直销三种渠道,并出现多种  相似文献   

4.
我国开放式基金业发展很快,但其国营销中出现大规模赎回现象.美国的共同基金的营销渠道很多.我国的基金管理公司不仅要通过一定的渠道把基金份额卖出去,而且要努力留住客户,同时还得不断挖掘潜在的投资者.我国开放式基金的营销策略应是树立开放式基金的核心竞争力,定价贴近市场,确认目标客户,建立多层次营销网络以及拓展基金销营渠道.  相似文献   

5.
开放式基金营销可以归纳为四个基本要素:产品、价格、客户、渠道。这四大要素对于开放式基金来说都是缺一不可的。目前,国内基金公司开放式基金营销在这些方面还存在着一些问题,制约了其开放式基金业务的持续、健康发展。  相似文献   

6.
王玮 《新金融》2003,(5):24-26
国内开放式基金发展至今不过一年半,到2003年3月末,已有15家基金管理公司发行了18只开放式基金,总募集规模达584.49亿元.然而,在开放式基金快速发展的同时,基金产品的销售也遇到了明显的困难.在研究当前国内开放式基金销售问题时,可以从目前基金持有人的特征分析入手进行局部性的探讨.  相似文献   

7.
伴随着我国资本市场的日益火热,开放式基金理财产品受到了大家的热捧,上百亿元份额的开放式基金一旦开始认购或申购,往往数小时之内便被抢购一空,代理销售基金的各家商业银行也因此获得了一笔不菲的中间业务手续费收入,基金管理公司自然更是日进斗金。可见,基金理财已进入了一个新时代,到处呈现出一派火热的销售场面,商业银行对开放式基金销售模式及流程也应采取更加科学的分析方法,以进一步稳定和推动基金理财市场。[第一段]  相似文献   

8.
随着世界经济国际化、一体化的发展,开放式基金的地位及其影响力明显上升。本文从开放式基金的特点及全球开放式基金的发展状况入手,分析了我国发展开放式基金的意义,并在此基础上,提出了发展我国开放式基金的一些建议。  相似文献   

9.
由于封闭式基金与开放式基金的差异,基金公司倾向于补贴开放式基金而侵害封闭式基金的利益。经验证据表明,我国基金公司确实存在封闭式基金对开放式基金的补贴行为。论文进而构建了一个封闭式基金对开放式基金补贴模型,指出投资者偏好、市场预期的开放式基金销售量、激励机制、基金公司自身的管理能力是影响补贴行为的重要因素,并讨论了如何进行防范。  相似文献   

10.
根据开放式证券投资基金的含义和优势,适时开放式证券投资基金是必要的,从我国目前基金业及其证券市场的现状来看,要规范和发展证券市场与基金业、培养投资者的投资意识和基金专业人士,融资渠道以及股票指数期货来发展开放式证券投资基金。  相似文献   

11.
我国开放式和封闭式基金绩效比较的实证研究   总被引:4,自引:0,他引:4  
近年来我国新设立的开放式基金远远多于封闭式基金。在数量迅速增长的情况下,开放式基金能否取得优于封闭式基金的绩效受到市场的普遍关注。本文选取了10家基金管理公司,每家公司各选一只开放式基金和一只封闭式基金,从收益率、风险调整后的绩效和择时能力三个方面比较了2004年1月至2005年4月期间开放式基金与封闭式基金的绩效。实证结果显示,在我国目前情况下,开放式基金的绩效略高于封闭式基金,但并不存在显著的差异.  相似文献   

12.
The Morningstar fund rating has been reported to affect mutual fund flows in the US markets. This paper finds that flow patterns in Finnish bank-managed funds are significantly different from the patterns in the US. Specifically, non-bank funds attract flows in a manner similar to the US markets, that is Morningstar ratings affect fund flows. In contrast, Finnish bank-managed funds do not exhibit the same relationship between star ratings and flows. The results suggest that in Finland, five-star Morningstar ratings are not regarded as highly as in the US, where good performance attracts significantly higher flows. More significantly, our findings demonstrate the importance of banks' distribution channels in the Finnish financial market.  相似文献   

13.
We analyse the performance and performance persistence of US socially responsible investment (SRI) managers from a managers’ perspective, differentiating between specialist managers (only running SRI mutual funds) and non-specialists (running SRI and conventional mutual funds). We find that the SRI fund nature has a significantly negative influence on the non-specialist performance. Furthermore, top managers of both groups persistently outperform SRI funds. However, non-specialist managers obtain superior performance to specialist managers, perhaps because of learning synergies in both fund niches. Results also show more persistence with non-specialists, especially with regard to conventional mutual funds.  相似文献   

14.
In order to protect fund investors against conflicts of interest with fund management companies, US funds have mandatory independent directors, but this obligation is not required under the European Union Undertakings for Collective Investment in Transferable Securities (UCITS) Directive. Nevertheless, a considerable number of UCITS funds do have independent directors. Whether independent directors should also be mandatory in Europe has been a topic of ongoing debate. Using a sample of Luxembourg UCITS, we test the hypothesis that more independent boards add value for investors through lower costs and/or better investment performance, but we fail to find supporting evidence, even for funds with a higher risk of conflicts of interest. Oversight by independent depositaries and institutional shareholders does not seem to be effective either. It appears that board attitude and the sponsor distribution model are more important since we find evidence that boards that prioritise cost monitoring have lower costs and that independent sponsor funds have better performance. These results question the effectiveness of self-regulation or formal regulation requiring independent board members.  相似文献   

15.
The importance of asset allocation decisions in wealth management is well established. However, given its importance it is perhaps surprising that so little attention has been paid to the question of whether professional fund managers are skilful at timing market movement across asset classes over time. The timing literature has tended to concentrate on the timing skill of single asset class funds. Using data on US, UK and Canadian multi-asset class funds, we apply two alternative methodologies to identify the asset class timing abilities of managers. Overall, whether we apply a returns-based method or a holdings-based testing approach, we find evidence of only a tiny minority of funds with asset class timing ability.  相似文献   

16.
This paper examines the impact of both socially responsible (SR) and conventional entrant funds on SR incumbent funds using an overlap in portfolio holdings to measure the impact of competition in the US mutual fund industry. This paper’s findings indicate that over the past decade the increase in competition from SR entrants has been associated with an increase in fees but not in capital flow. Moreover, our results show that the increase in the number of SR fund entrants does not have a negative impact on fund performance. This finding implies that despite the significant increase in the number of SR funds entering the market, open and free competition fosters the performance of SR fund participants. Our study concludes that despite the recent growth in the number of SR funds, the SR mutual fund market does not exhibit the key features of a competitive market.  相似文献   

17.
In this paper we examine the performance of US equity funds (locals) versus UK equity funds (foreigners) also investing in the US equity market. Based on informational disadvantages one would expect the UK funds to under‐perform the US funds, especially in the research‐intensive small company market. After controlling for tax treatment, fund objectives, investment style and time‐variation in betas, we do not find evidence for this. In the small company segment we even find a slight out‐performance for UK funds compared to US funds. Finally we observe a home bias in the UK portfolios, which is partly attributable to UK funds investing in cross‐listed stocks in the USA.  相似文献   

18.
中国开放式基金营销研究   总被引:2,自引:0,他引:2  
营销是开放式基金的重要业务之一。本文试从我国开放式基金的发展历程入手,借鉴成熟资本市场的经验,探讨我国开放式基金营销中存在问题及形成原因,在结合我国资本市场的发展状况基础上,提出开放式基金营销的对策建议。  相似文献   

19.
本文在认可公募基金经理具有选股能力的基础上,对绩优的明星基金季报披露的重仓股按业绩筛选出股票,建立组合投资,对2005年二季度至2006年四季度期间的持有收益和风险进行验证。结论表明,在我国证券市场上克隆基金是一种可以给投资者带来较大收益的行之有效的战略手段。同时,本文认为,由此揭示出来的投资基金公开信息披露制度问题值得深入探讨。  相似文献   

20.
梳理银行间市场资金面的影响因素,对于分析市场资金面的供求关系,央行评估货币政策执行效果,以及金融机构进行资产组合配置都有积极作用。文章从货币政策、商业银行存贷款增量、央行外汇占款、税收因素等多个角度,梳理了影响我国银行间市场资金面的八项因素,并在此基础上分析了今年5月份以来银行间市场资金面快速趋紧的成因。三季度,受CPI冲高回落、重申人民币汇改以及大型商业银行流动性状况好转等因素影响,银行间市场资金面紧张的格局将逐步改善。  相似文献   

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