My fund for the development of the historical origins in 1992, a standardized Fund originated in 1998. Although our historical norms Fund is not long, but in the past nine years, the Fund also has experienced a number of ups and downs. experiencing in 1999 the “5.19″ rates, also experienced in June 2001 on the 2245 Stock Index, the highest point more experienced in July 2005 on the 998 Stock Index low, also ushered in the equity division reform of joy. It can be said that the fund industry in the development of China’s securities market is gradually moving toward a mature sign.

China’s fund industry’s development history can be divided into three stages :

The first stage is the early stage of exploration. In November 1992, China’s first fairly standard investment funds — Zibo Fund was formally established. The Fund for corporate closed-end funds to raise funds to 100 million yuan. and in August 1993 in the Shanghai Stock Exchange listing.

The second stage is the stage of the development of closed-end funds. November 14, 1997, the State Council Securities Regulatory Commission promulgated the “Interim Measures” China’s fund industry for the development of norms laid a legal foundation. March 27, 1998, the newly formed Southern fund management companies and fund management companies, Cathay Pacific, respectively launched the size was 20 billion two closed-end funds — “Fund Kaiyuan” and “Fund Jintai,” triggered the China Securities Investment Funds in China.

The third stage is an open-end fund development stage. October 8, 2000, the China Securities Regulatory Commission issued the “open-end securities investment funds experimental methods.” In September 2001, only China’s first open-end fund — “Huaan Innovation” was born, China’s fund industry achieved from the development of closed-end funds to open-end fund historic leap.

Data show that funds in the United States has become a good public financial management tool. From 1980 to 2005, the United States have an open-end fund from the number of families increased by 4.6 million to 53.7 million. accounting for the total number of households rose from 5.7% to 47.5%. In other words, nearly half of American families holding funds, the data from the fund industry in China still has much room for development.

Copyright Fund China 2009.

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