国内基金

QFII与国内基金A股市场的博弈分析

The Game Analysis of QFII and Domestic Fund in A-Market

QFII与国内基金投资行为比较研究

Comparison Study on Investment Behaviors of QFII and Domestic Fund in China

据中国证券监管机构称，包括渣打银行（StandardChartered）和东亚银行（BankofEastAsia）在内的其他外资银行也已申请获得销售国内基金的牌照。

According to the local securities regulator , other foreign banks including Standard Chartered and Bank of East Asia have also applied for a licence to sell local mutual funds .

接着运用SPSS软件对分析结果进行验证。最后，本文根据模型的分析结果，对国内基金公司的营销提出了一些建议。

Then validate the results of the analysis using SPSS software . Finally , according to the analysis results of the model , Some Suggestions were put forward for the domestic fund companies .

回归分析发现，机构对有某些特征的股票存在明显的偏好，而国内基金和QFII的持股特征存在一定的不同。

The results show that institutional investors obviously prefer to hold stocks that have some certain characters . And the preferences of holding stocks between domestic funds and QFII are very different .

在交易和资金方面，TPG还面临来自中国等市场上数千只国内基金的争夺。在中国，由于银行收紧放贷，私募基金如今已成为主要的融资渠道。

The competition for deals and money also comes from thousands of domestic funds in markets such as China , where private equity is now a primary source of funds in the face of constrained bank lending .

中国国内基金要在海外投资，必须拿到一张令人垂涎的牌照合格境内机构投资者（QDII）资格有时一年只发几张牌照，牌照规定了基金在海外的最高投资额度。

To invest abroad Chinese funds must get a highly coveted license as a Qualified Domestic Institutional Investor-sometimes just a handful of licenses are handed out in a year-and the license comes with a quota for the amount of funds it can invest outside China .

韩国最近修改了规定，允许国内基金开始运营。

South Korea recently changed rules to allow onshore hedge funds for the first time .

本季度迄今为止，成长迅速的国内基金管理行业筹集了180亿美元的资金。

The fledgling domestic fund management industry has raised $ 18bn so far this quarter .

在现有法律框架下，国内基金可以创新的方向将进一步从原来的概念化、大统化向品种细分化、市场细分化的方向发展。

Under the existing legal framework , the Chinese companies should learn to develop more segmented products .

然而，国内基金业目前还没有一个完整有效的基金业绩评价体系。

However , domestic fund industry has never had a comprehensive and effective system to assessing the funds performance .

尤其是随着我国开放式基金的迅速发展，国内基金业正逐渐与国际接轨。

Especially with the fast development of mutual funds , the industry of domestic fund catches with the world gradually .

在这笔交易完成后，国内基金管理公司国联（Guolian）将持有合并后管网5.33%股份。

After the deal , domestic fund management company Guolian will hold 5.33 per cent of the combined pipeline network .

目前中国约有58家国内基金公司（包括24家中外合资公司）正竞相吸引投资者的资产。

Some 58 domestic fund houses – including 24 Sino-foreign joint ventures – are scrambling to attract investors ' assets .

在需要国际投资技能的资产类别中，亚洲地区缺乏能与现有的外国经理竞争的国内基金经理。

The region lacks domestic fund managers able to compete with established foreign managers in asset classes requiring international investment skills .

一位熟悉谈判情况的人士表示：即使与国内基金联手，也不能保证获得监管批准。

However , one person familiar with the discussions said : Even an alliance with a domestic fund cannot guarantee regulatory approval .

在这个日益拥挤的市场，目前有58家国内基金公司（其中包括24家中外合资基金公司），正在争相吸引投资者的注意力。

There are 58 domestic fund houses , including 24 Sino-foreign fund joint ventures , vying for investors ' attention in an increasingly crowded market .

本周一，来自美国财政部的所谓份额数据显示，美国国内基金经理在10月中旬举行的国债拍卖中所认购的份额有所上升。

On Monday , so-called allotment data from the Treasury revealed domestic fund managers had bought a larger share of bond auctions held in mid-October .

而我国金融领域混业经营渐行渐近，银行、保险基金管理公司的加入将强化国内基金市场的竞争局面。

The tendency to diversified business operating on financial industry , and participation of banking , insurance fund management company on fund market will enhance competition .

中国允许证券公司、保险公司和私募证券基金管理机构通过成立资产管理业务部门开展公募证券投资基金管理业务，借此扩大国内基金管理市场。

China is expanding its fund management market by allowing securities firms , insurance companies and private fund managers to launch retail funds via asset management arms .

该报告表示，面对不断扩大的损失，投资者仍能耐心等待的另一个可能原因是，除了国内基金投资，他们缺乏有吸引力其他选择。

Another possible explanation for investor patience in the face of mounting losses , says the report , is a lack of attractive alternatives to domestic fund investment .

迄今为止，这些美国公司一直不愿支付高额代价，进入中国的国内基金市场，因为要进入这个市场，外国投资者就必须买入合资基金公司的少数股权。

They have so far avoided a costly foray into China 's domestic fund market , where foreigners are required to buy minority stakes in fund joint ventures .

考虑到所有债务都是在岸的、并且以人民币计价，最有可能从上述规则改变中受益的应该是那些专营经纪人、以及符合条件的中国国内基金经理，而非国际基金经理。

This rule change is most likely to benefit specialist and qualified domestic managers rather than international managers , given that all liabilities are onshore and denominated in renminbi .

中国国内基金公司仍在扩大投资，人民币基金交易量去年首次超过美元基金交易量。

Domestic Chinese firms continued to expand their investing , with local currency renminbi funds for the first time accounting for more activity during the year than dollar funds .

在相关法律法规健全，时机成熟之时，希望本文的研究可以为国内基金公司向国际市场开拓业务提供思路和参考。

When the laws and regulations are ready and chance comes , the author hopes that the article may provide reference for domestic fund management companies to exploit business internationally .

新兴市场基金的资金流入势头一直颇为强劲，特别是来自美国投资者的资金。这些美国投资者似乎仍然在把钱从国内基金转向国际投资。

The flow of funds into emerging market funds has been strong , particularly from US investors who still appear to be shifting money from domestic funds to invest internationally .

在西方证券市场上已经形成了一套较为成熟的基金评价理论和方法，借鉴和引用这些方法对于促进国内基金评价业的发展作用明显。

There are comparatively mature theories and methods for the fund classification in the western security market , which will promote the development of security investment fund appraisal if referred .

随着国内基金业的不断发展，基金评价体系也应不断做出调整，但体系构建的原则相对而言不变。

With the development of the security investment fund industry , security investment fund appraisal system also should make corresponding adjustment but the principle for constructing the system matrix is comparatively stable .

本文对两地近年基金行业的发展状况展开比较，着重介绍它们在行业基础条件、总体规模、战略定位和政策上的差别以及在产品创新方面的竞争，从中得出对国内基金业发展的若干启示。

The comparison focuses on the infrastructure , fund scale , strategic positioning , policy difference as well as competition in new product development , which is enlightening to the Chinese fund industry .

中国央行表示其计划允许外国银行为国内基金公司代理发行基金。这一举措将为海外银行开拓一个全新的收入来源。

China 's banking authority says it plans to allow foreign banks to distribute products for domestic fund houses , a move that will open up a new source of revenue for overseas lenders .