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投资基金是把广大投资者的资金汇集成一笔基金,由专家进行经营和管理,专业从事投资之称谓。投资基金在国外也称信托基金、共同基金或互惠基金等。 随着我国资本市场和证券市场的崛起与迅速发展,投资基金作为一种新的金融工具和投资形式,其优越性和积极作用日益明显。 一、中国投资基金的发展 投资基金在我国起步于1987年前后,首先是由熟悉海外业务的金融机构在海外组建“中国概念基金”开始的,如招商局中国基金、(China Merchant Di-rect Investments Fund)、中国工业投资基金(CMEC China Industriall Fund)等。随着中国涉外基金业务的迅速发展,国外基金纷纷看好中国市场并积极介入中国的实业投资、证券和基金市场,许多国家和地区成立了“中国投资基金”,其形式除了海外独资管理的基金直接进行投资外,还有与中国的金融机构和企业共同发起成立和管理的海外中国投资基金,海外基金委托中国金融机构管理等。基金的发行方式又分为项目筹措和一般筹措。海外基金的发展,是标志着我国金融业发展的新里程碑,是我国金融、证券和基金参与国际资本市场的重要一步,是我国在国际资本市场筹措资金的另一重要手段和工具,由于基金不同于贷款,它没有固定的利息支出,它回避了使用传统的信贷资金来建设项目的利息风险和
Investment funds is the vast pool of investors funds together into a fund by the experts to operate and manage, specializing in the title of investment. Investment funds in foreign countries, also known as trust funds, mutual funds or mutual funds. With the rise and rapid development of China’s capital market and securities market, investment funds, as a new form of financial instruments and investment, have become increasingly prominent in their advantages and positive effects. I. Development of China’s Investment Funds Investment Funds Started in China before and after 1987 began with the establishment of “China Concept Funds” overseas by financial institutions familiar with overseas businesses. For example, China Merchant Di-rect Investments Fund, China Industrial Investment Fund (CMEC China Industriall Fund) and so on. With the rapid development of China’s foreign-related fund business, foreign funds have been optimistic about the Chinese market and have been actively involved in China’s industrial investment, securities and fund markets. Many countries and regions have set up “China’s investment funds,” in the form of funds directly managed overseas In addition, there are overseas Chinese investment funds jointly established and managed by Chinese financial institutions and enterprises, and overseas funds entrusted by Chinese financial institutions. Fund distribution methods are divided into project financing and general financing. The development of overseas funds is a new milestone marking the development of China’s financial industry. It is also an important step for China’s financial, securities and fund participation in international capital markets. It is another important means and tool for our country to raise funds in international capital markets. Due to the different funds With loans, which have no fixed interest expense, it avoids the risk of using traditional credit funds to build interest in the project and