Domestic Structure Of Fund Holders Shen Redemption Behavior An Empirical Analysis

I've pursued the career in fund industry almost in 8 years, the structure of mutual funds holders and regularity of purchase and redemption activity are always the focus of the fund houses even of whole finance industry. based on the analysts of the holder structure nowadays, we can tell the dealing difference between the personal investors and intuitional investors, the results show that the stable and diversified fund holder structure will benefit the improvement of the fund performance; based on the empirical study on purchase and redemption activity under variable market circumstances, we can see the irrational dealing activity among the fund holders in China. The results show that the rational and reasonable buy-sell activity will do good to the healthy development of Chinese fund industry, then we make some suggestion on the development of the fund market system, the investor education ,the brand strategy making.This paper adopts two phases to study the funds holder structure and their activities. In the first phase, it will introduce the international experience, compare the advantage and disadvantage of the competitive subject in Chinese funds market, and review the four stages of the fund developing periods and the changing trends of the fund holders. based on the above analysis, the paper will analyze the influence on the fund performance under the various fund hold structure, then conclude that the stable and diversified fund holder structure will benefit the improvement of the fund performance. Finally it will analyze the differentiation of various style funds performance.In the second phase, this paper will study the different elements which influence the fund performance. According to the features of funds holders in recent market, it selects the fund performance,risk and fluctuate,duration time,AUM,dealing fee,branding as the elements to analyze the fund holders reaction. Based on the theory study, the paper will make further empirical research according to the data from the channel sales results. Then make a multi-elements regression model. Finally the paper will study the diffence and preference between the personal investors and intuitional investors under the various markets.Finally it will suggest to make different products,marketing,funds management strategy according to various market situation, fund holders styles. And make some further suggestions to benefit the real fund house operations.