The open-end fund is one of the investment funds. With the pace of the globalization is faster and faster, China is also transferring from labor-intensive industry into a knowledge-based economy. After China became the member of the WTO, the gradual liberalization of financial markets, especially the bull market of securities marketing starting from Year 2006, the open-end funds has been enjoying a explosive growth.Being the key point of the investment fund, the fund manager plays a vital role in the fund operation. However, the increased turnover rate of the fund manager and the "rat trading" are frequently exposed to the public. This causes the public's wondering about of the fund managers, fund management company and open-end fund.This article studies the open-end fund manager as the object base on the theory of human needs, employee turnover and principal-agent theory, also conducted an analysis of the fund management and fund manager in China. The article put forward the rooted-problem of the fund manager's turnover is due to the lack of motivation system, monitoring and balance system and balances are not in the place, and recommends that from the dominant and recessive motivation ways, appropriate governance and regulatory to maintain the stability of the fund manager team, to further safeguard the interests of the holders of the open-end fund, to promote the investment fund industry under a health, stability and sustainable development. |