从委托代理角度看证券投资基金从封闭式到开放式的必然趋势

The Necessary Trend from Closed Seeurity Investment Fund to Open Security Investmem Fund:An Commission and Agency Relation Angle

以开放式基金代替封闭式基金是我国证券基金业发展的必然趋势。本文从经济和法律角度 ,结合具体案例分析了封闭式基金由于在设置上难以保证正常、完善的委托—代理法律和经济关系 ,使得其在发挥保障投资者的利益 ,稳定证券市场的作用时受到很大限制 ,而开放式基金由于在设置上能够保障完善的委托—代理关系 ,从而能够弥补封闭式基金的不足 ,发挥良好的作用。在此分析基础上 。

It is an essential trend of stock market development that the closed fund is replaced by the open fund in China.The article considers that closed fund is limited to ensure interests of investors and stabilize stock market because the legal relation of commission and agency can not be guaranettd ty analyzing specific case from economic and legal angle,however,open fund can make up the deficits of closed fund,furthermore,can play a plsitive role because its commission and agency relation can be guaranteed.Finally,the article point out the specific conception of developing open fund on basis of the above analysis.