开放式是投资基金的一种先进形式

The Open-End Pattern Is an Advanced Pattern of Investment Funds

投资基金的封闭式与开放式的认购、赎回机制的不同，不仅直接导致其运作机理的不同，更造成其在实践中发展的大相径庭，国际上以开放式基金为主导的基金发展模式与我国以封闭式基金为主导的基金发展模式应该引起我们足够的重视与思考。从深层次的原因看，我国投资基金的风险是其所采取的基金类型引发的，封闭式基金的固有缺陷无论在运作机制上还是在实践中都暴露出来了，我们必须正视封闭式基金的制度性缺陷，应考虑适时进行开放式基金的实践，并积极利用商业银行拓展基金业务走向大众。

The close-end pattern and the open-end pattern of investment funds are different from eachother in the mechanisms of subscription, buying --back and operation, thus leading to a sharpcontrast in practical results. In the world, the open--end pattern of funds are currently a dominantdevelopment pattern of funds, while China practises the close--end pattern of funds, whose inherentdefects and risks both in operation mechanism and in practice haye been exposed Therefore, weshould acknowledge the institutional defects of close--gnd investment funds, and consider practisingopen--end investment funds at an appropriate time, and vigorollsly use commercial banks to developbusiness operations of investment funds.