小盘股基金:海外运作经验及其借鉴

Overseas Experience of Managing Small-size Investment Fund

小盘股基金是海外基金行业一支活跃的力量,在追求高收益的竞争中,形成了其独到的运作经验。本文对海外小盘股基金的收益、资产规模、持股集中度、换手率、行业组合、选股特征、信息披露等基金运作的全部过程进行了研究。在我国刚刚推出了中小企业板之际,发展我国的小盘股基金,对促进多层次资本市场的建立和发展具有现实意义。

Small-size investment fund is a vital force in overseasfund industry. Unique experience is developed in seeking for highreturn. This paper is a full-scale study of small-size fund withrespect to its profitability, asset scale, equity concentration,turnover ratio, industry portfolio, stock pick and disclosure. At thetakeoff of the SME Board, cultivation of small-size investmentfund has immediate significance to facilitate construction of amulti-layer capital market.