The Study On The Development Of Money Market Fund Of China

The money market fund (MMF)is the securities investment funds one kind, born in 1971 in US. China appears most early the money market fund—Boshi Cash Income Securities Investment Fund, the Hua'an cash rich advantage fund and zhaoshang cash increment fund in December, 2003. So far China have 32 MMFs, that the property worth scale approximately is 200 billion Yuan.From its appearance, MMF receive investor's favor. It not only has enriched the choice in fund market, but has led the fund market to develop rapidly along with its own enlarged scale. MMF's foundation speeds up the step of money market interior system innovation and the product innovation greatly, pushes financial market to advance fast. MMF absorbs widespread society fund to enter the money market, provides the powerful foundation for each kind of money market tool continuously issued, for the cultivation and development of circulation transaction market, and at the same time, it is also advantageous to format the money market marketability fixed price mechanism fast. Issue of MMF can increase the participation main bodys and capitals, enhances the fluidity of money market; MMF is advantageous to break the division by different sub-market in the money market, to promote marketability of interest rate.The article can be divided into 5 parts:The first part is the characteristics of MMF, which Introduce MMF's implication, classified, characteristic and main differences with other investment funds.The second part is the introduction about MMF's development overseas. First it is concerned with production and present situation of MMF in whole world. Then it introduces emphasisly MMF in US.The third part is MMF's development introduction in China. It introduces the rudiment, production, development and current situation of MMF in China.The fourth part elaborated MMF's operation in China. At first it introduces MMF's investment tool in China, investment profolio management and risk management; Then study MMF's supervising and managing and achievements appraisal.The fifth part is the thoughts of the author. At first it multianalysis influence on economy...