证券公司资产管理业务研究

发布时间：2018-05-16 06:51

本文选题：证券公司 + 资产管理　；参考：《首都经济贸易大学》2017年硕士论文

【摘要】：近年来,随着经济的持续稳定发展,居民收入和财富日益增长,面对银行储蓄利率低微,居民对投资理财服务的需求不断增长。以商业银行和公募基金为主导的理财产品市场已经不能满足投资者的需求,在内需强劲的情况下,金融监管机构也逐步放开对资产管理机构的准入门槛,基金公司、信托公司、证券公司、银行、期货公司、保险资产管理公司和私募资产管理公司七类金融机构开启了资产管理市场竞争的新格局。在政策红利的影响下,国内资产管理业务自2012年开始取得了突飞猛进的发展。资产管理业务作为金融市场中投融资的重要渠道,对实现资源的优化配置和促进产业集中发挥着至关重要的作用。证券公司作为“资本市场服务中介”,开展资产管理业务具有天然的优势,其发展潜力远大于其他资产管理机构。证券公司资产管理业务以收取管理费的收入模式有别于传统靠佣金收入为主的经纪业务,也逐渐成为其收入的重要来源。证券公司资产管理业务在飞速发展的同时,也面临一些突出的问题,如资管业务规模增长的结构性失衡、集合资管产品设计同质化、投资决策能力不足和监管环境不成熟等等。证券公司如何能在充分竞争的大资管环境下,不断满足市场的投资管理需求的同时,有序开展资产管理业务避免资产管理业务增长的结构性失衡等问题,结合证券公司的业务优势制定适合证券公司资管业务的未来发展规划是证券公司亟待解决的难关。基于此,本文首先介绍了证券公司发展的历程,发展的动力并分析了其现状。结合一家中小券商分析了集合资产管理业务和定向资产管理业务运作的流程和存在的问题等。然后从行业的角度针对证券公司资产管理业务开展过程中的共性问题进行了分析,最后提出了对策建议,为证券公司资管业务的健康发展提供一定的参考。
[Abstract]:In recent years, with the sustained and stable development of economy, residents' income and wealth are increasing day by day. In the face of the low interest rate of bank savings, the residents' demand for investment and financial services is increasing. The market for wealth management products, dominated by commercial banks and public offering funds, can no longer meet the needs of investors. When domestic demand is strong, financial regulators have gradually opened up the entry threshold for asset management agencies, fund companies, trust companies, Securities firms, banks, futures companies, insurance asset management companies and private equity management firms seven types of financial institutions have opened up a new pattern of competition in the asset management market. Under the influence of policy dividend, domestic asset management business has made rapid development since 2012. As an important channel of investment and financing in the financial market, asset management plays an important role in the optimal allocation of resources and the promotion of industrial concentration. As a "capital market service intermediary", securities companies have natural advantages in asset management, and their development potential is much greater than that of other asset management agencies. The asset management business of securities companies is different from the traditional brokerage business which relies on commission income to collect management fees, and has gradually become an important source of its income. With the rapid development of asset management business, securities companies also face some outstanding problems, such as structural imbalance in the growth of capital management business scale, homogenization of aggregate asset management product design, insufficient investment decision-making ability and immature regulatory environment, and so on. How can the securities companies meet the investment management needs of the market in a fully competitive and large capital management environment, and at the same time carry out the asset management business in an orderly manner to avoid the structural imbalance in the growth of the asset management business? Combining the business advantages of securities companies, it is urgent for securities companies to formulate the future development plan suitable for securities companies' capital management business. Based on this, this paper first introduces the development of securities companies, the development of the power and analysis of its current situation. Combined with a small brokerage, this paper analyzes the operation process and problems of collective asset management business and directed asset management business. Then it analyzes the common problems in the process of carrying out the asset management business of securities companies from the angle of industry, and finally puts forward some countermeasures and suggestions, which provides a certain reference for the healthy development of the capital management business of securities companies.
【学位授予单位】：首都经济贸易大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F832.39

【参考文献】