Research On Risk Management Optimization Of Structured Fund In D Securities Company

Structured fund has great significance to the development and improvement of China’s financial market.After 10 years’ development,the progressive share,one part of the structured fund,has showed its leverage characteristic,also demonstrated various effects.In the bull market,it has brought in rich investment returns and attracted numbers of investors to invest.In a short time,the progressive share became the most popular fund products for investment in the securities market;however,with the end of the bull market,the securities market has continued to slump,and the leverage characteristics have caused investors to suffer double losses.Under extreme conditions,irregular conversions occurred,resulting in extremely heavy investment losses for investors.The transaction volume and transaction value of have decreased significantly,and the liquidity risk and discount risk have exposed.The development period of China’s fund market is short,the experience of risk management is limited,and there are some immature and unreasonable aspects in the risk assessment system.Therefore,it is very important for securities companies to understand the operation mechanism of progressive fund share,clarify the leverage trading mechanism,conversion mechanism,discount and premium mechanism,and quantitatively study the risk management of structured fund.This paper introduces the general situation of D Securities Company and the development of its structured fund business,expounds the current situation of its structured fund risk management,briefly describes its risk management organization structure and working mechanism,and sorts out the risk categories in the structured fund risk management of D Securities Company,according to the structured fund management guidelines of Shanghai and Shenzhen Stock Exchange and the risk management classification standards of securities companies;analyze and study the problems faced in the risk management process of the company’s structured fund business;by using the risk management theory and relevant models,combined with the specific operation mechanism of the structured fund,this paper discusses the optimization of the risk management of the structured fund business from the perspective of product risk,compliance risk,operational risk and liquidity risk,and put forward suggestions on risk management of structured fund business of securities companies.