發(fā)布時(shí)間：2018-03-20 11:50

  本文選題：對(duì)沖基金　切入點(diǎn)：投資策略　出處：《首都經(jīng)濟(jì)貿(mào)易大學(xué)》2012年碩士論文　論文類型：學(xué)位論文

【摘要】：伴隨不斷提高的金融市場(chǎng)定價(jià)效率以及投資環(huán)境的變化，，傳統(tǒng)的金融工具已經(jīng)不能滿足投資者的回報(bào)需求。對(duì)沖基金憑借其多樣化的投資策略、專業(yè)的投資技術(shù)和不同的金融投資工具而受到人們的格外關(guān)注，它滿足了個(gè)人投資者和機(jī)構(gòu)投資者的多元化需求。從對(duì)沖基金表現(xiàn)來看，市場(chǎng)上升階段其收益率明顯高于主要市場(chǎng)指數(shù)，當(dāng)市場(chǎng)下跌時(shí)其收益波動(dòng)幅度小于市場(chǎng)指數(shù)，可見對(duì)沖基金能夠有效分散所構(gòu)建投資組合的市場(chǎng)風(fēng)險(xiǎn)。國(guó)外對(duì)沖基金已經(jīng)過幾十年的發(fā)展并且對(duì)于它的研究也比較成熟，而國(guó)內(nèi)的對(duì)沖基金剛剛起步。股指期貨、融資融券等做空機(jī)制的推出為國(guó)內(nèi)本土對(duì)沖基金的發(fā)展和創(chuàng)新提供了更多的條件。 本文運(yùn)用定量、定性方法研究了對(duì)沖基金的主要投資策略在我國(guó)股票市場(chǎng)上運(yùn)用的可行性，從而給國(guó)內(nèi)投資者以借鑒。論文首先介紹了對(duì)沖基金相關(guān)的基本概念、國(guó)內(nèi)外發(fā)展歷程和最新特點(diǎn)；其次從多角度研究了對(duì)沖基金的投資策略分類及操作；然后將國(guó)際對(duì)沖基金的投資策略在中國(guó)股市上的運(yùn)用進(jìn)行案例研究并得出結(jié)論；最終對(duì)整篇文章做出總結(jié)并提出對(duì)沖基金在我國(guó)發(fā)展的局限進(jìn)而提出改善這些局限的對(duì)策建議。
[Abstract]:With the increasing efficiency of financial market pricing and the changing investment environment, traditional financial instruments can no longer meet investors' demand for returns. Professional investment techniques and different financial instruments have attracted special attention. It meets the diversified needs of both individual and institutional investors. From the perspective of hedge fund performance, In the rising stage of the market, the yield is obviously higher than the major market index, and when the market falls, the volatility of the return is smaller than that of the market index. It can be seen that hedge funds can effectively diversify the market risk of their constructed portfolios. Foreign hedge funds have developed for decades and their research on it has been relatively mature, while domestic hedge funds have just started. Stock index futures. The introduction of short-selling mechanism provides more conditions for the development and innovation of domestic hedge funds. This paper uses quantitative and qualitative methods to study the feasibility of applying the main investment strategies of hedge funds in the stock market of China, which can be used for reference by domestic investors. Firstly, the paper introduces the basic concepts of hedge funds. Secondly, the paper studies the classification and operation of hedge fund investment strategy from various angles, and then makes a case study on the application of international hedge fund investment strategy in Chinese stock market and draws a conclusion. Finally, the paper summarizes the limitations of hedge fund development in China and puts forward countermeasures to improve these limitations.
【學(xué)位授予單位】：首都經(jīng)濟(jì)貿(mào)易大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2012
【分類號(hào)】：F832.51

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