香港投资基金规范框架对内地证券投资基金监管的启示

发布时间：2018-01-13 20:09

本文关键词：香港投资基金规范框架对内地证券投资基金监管的启示　出处：《上海交通大学》2014年硕士论文　论文类型：学位论文

【摘要】：投资基金是一种集合投资制度，一般指通过发售份额募集基金，由基金托管人托管，由基金管理人管理和运用基金，为基金份额持有人的利益，，通过资产组合进行的证券投资方式。在过去的二十年里，投资基金在市场经济国家迅速发展，因为其自身所具备的风险分散型的特点，迅速成为大众投资工具，成为金融业最重要的组成之一。20世纪80年代中国引入证券投资基金制度并获得快速发展，成为中国金融市场重要的组成部分。为拓宽中小投资者投资渠道、优化金融结构、促进证券市场的稳定与健康发展、完善金融与社会保障体系起到了重要积极作用。从1998年第一家基金管理公司成立至今，基金行业资产规模以差不多年均50%的速度增长。截至2012年末，全部基金的资产净值合28，661.00亿元，份额合计31，708.95亿份，和2011年12月31日净值规模21，918.55亿元和份额规模26，510.37相比，资产净值增加6742.45亿元，份额规模增加5198.58亿份。近年来，我国的证券投资基金业快速发展，成为投资者选择的重要投资产品。在迅速发展的同时，一些违法违规的问题也接踵而至，影响基金行业健康稳定的发展。这是由于证券投资基金在我国发展的时间不长，实践积累不够丰富，配套的法律法规还不甚健全和完善。借鉴基金业发达的国家和地区的发展经验，对我国基金行业的稳定和发展有着重要意义。香港是亚洲最重要的基金管理中心，其特点是规模大，国际化程度高，相关法律法规和规管框架比较完善。通过研究两地的证券投资基金监管框架和相关法律制度，对我国基金业的发展具有重要意义。本文详细对比了香港和内地证券投资基金各项制度，从定义，基金的种类，到运作方式，信息披露制度到监管制度，其中着重对比了两地证券投资基金的法律监管制度，分析了不同的监管方式的基金业的发展有着何种不同的推动作用，最后提出了香港证券投资基金相关法律制度对内地基金业发展的借鉴意义。
[Abstract]:Investment fund is a collective investment system, generally refers to raise funds through the sale of shares, the fund custodian, the fund management and use of fund, for the benefits of the fund share holders of securities investment through the portfolio. In the past twenty years, the rapid development of investment funds in the market economy, because the characteristics of risk has its own decentralized, quickly become a popular investment tool, has become one of the most important financial industry.20 century 80s Chinese introduced the securities investment fund system and has a rapid development, has become an important part of the financial market. Chinese to broaden the investment channels for small and medium investors, optimize financial structure, promote stable and healthy the development of the securities market, improve the financial and social security system has played an important positive role. Since its establishment in 1998 first fund management company, The fund industry asset size increased by almost an annual rate of 50%. By the end of 2012, the net assets of all funds 2 trillion and 866 billion 100 million yuan, the total share of 3 trillion and 170 billion 895 million copies, and in December 31, 2011 the size of the net value of 2 trillion and 191 billion 855 million yuan and the size of the share of 26510.37 compared to net assets increased by 674 billion 245 million yuan, the size of the share increase of 519 billion 858 million copies.
In recent years, the rapid development of China's securities investment fund industry, has become an important investment products for investors to choose. In the rapid development, the number of illegal problems ensued, affecting the development of the fund industry healthy and stable. This is because of the securities investment fund in China's development time is not long, experience is not rich enough, the supporting laws and regulations are not very perfect. Learn from the development experience of the fund industry in developed countries and regions, has the vital significance to the stability and development of the fund industry in our country. Hongkong is the most important of the Asian fund management center, which is characterized by large scale, high degree of internationalization, relevant laws and regulations and regulatory framework more perfect. Through the study of the two securities investment fund regulatory framework and the relevant legal system, has an important significance for the development of China's fund industry.
In this paper, the mainland and Hongkong securities investment fund system, compared with funds from the definition, types, operation mode, the information disclosure system to the supervision system, which focuses on the comparison of the legal supervision system of securities investment fund, analyzes the role which promote the development of different different modes of supervision of the fund industry, finally the development of Hongkong securities investment funds related to the legal system of the mainland fund industry reference.

【学位授予单位】：上海交通大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：D922.287;F832.51

【参考文献】