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成熟的海外市场中,股指期货不仅在共同基金、对冲基金和投行等机构投资者中得到广泛的应用,也在各类新型的相关基金产品设计中大显身手。利用股指期货等衍生品和包括做空在内的各种交易策略以对冲风险和获取超额收益将成为证券市场参与者未来的发展方向。本文还介绍了海外对冲基金的各种交易策略及其风险收益、业绩表现和使用衍生工具等情况,并以美国的共同基金为例,分享了股指期贷在海外机构投资者中的应用经验,为国内的公募基金等机构投资者提供参考。
Mature overseas markets, not only in the stock index futures mutual funds, hedge funds and investment banks and other institutional investors have been widely used, but also in all kinds of new fund products related to the design. The use of derivatives such as stock index futures and various trading strategies including shorting to hedge risks and gain excess returns will become the future direction of the participants in securities markets. This article also introduces the various trading strategies of overseas hedge funds and their risk and return, performance performance and the use of derivatives. Taking the mutual funds in the United States as an example, this paper shares the application experience of stock index loan in overseas institutional investors, For domestic public funds and other institutional investors provide a reference.