Study On The Influence Factors Of The Open - End Securities Investment Funds Raised In China

Open-ended fund is one of the main forms in western capital market. At the end of year 1999; the open-ended fund replaced commercial banks as the biggest financial intermediary. It only takes several years for open-ended fund to become one of the most important forms in China capital market since the first open-ended fund introduced to China in 2001. However, problems and challenges are ahead of us to further grow the size of the fund. The analysis and research of the fund size have practical meanings to the fund marketing.From the macro and micro angles, the paper analyzed the factors affecting and deciding the scale of open-ended funds. To Macro-factors, the level of economic development, the degree of mature in capital market and the degree of legislation in fund industry have prominent effects on the gross scale of funds. To Micro-factors, the trustee of funds, the deputy of funds, the handlers of funds and the holders of funds have decisive effect on the sole scale of fund.Moreover, the analysis of the factors that effect the size of the fund proved factors like historical performance, fund style, number of dividends payout and market characters have impacts to the fund size. In conclusion, feasible suggestions and actions that could help to grow the fund size. We hope those suggestions can bring more trains of thoughts to the marketing of open-ended fund and be helpful to the development of open-ended fund in China.