“封转开”问题,随基金兴业封闭期渐行渐近,再次牵动市场敏感神经。 QFII增仓封闭式基金,加重”封转开”气氛。美国和我国台湾地区实行”封转开”,结果不尽人意,不仅净值缩水,且总体规模缩小,持有人没有从中获益,其缘由“冲击成本”的影响。为防止类似失血现象发生,封闭式基金需交易制度改革、运行机制、手段创新,增强流动性,减少折价率。 “Closed to open” issue, with the closure of Societe Generale approaching, once again affect the market sensitive nerves. QFII Masukura closed-end funds, increasing “seal turn” atmosphere. The United States and Taiwan in China have implemented “closed-loop reform.” The results were unsatisfactory. Not only the net worth has shrunk, but the overall size has been reduced and the holders have not benefited from the “impact cost”. In order to prevent the occurrence of similar blood loss, the closed-end fund needs the reform of the trading system, operation mechanism, innovation of means, enhancement of liquidity and reduction of the discount rate.