我国证券投资基金折价交易现象透析

Analysis of the discount of the close end fund in our secondary security market

证券投资基金溢、折价交易反映的是其价值与价格的相互关系。通过对比国外封闭式基金的折价交易情况 ,从供需角度分析了我国证券投资基金的折价交易现象。认为该现象从一定程度上反映了我国基金发展中潜在的问题及困难 ,体现出我国的证券市场仍存在较强的投机性 ,投资基金的帐面资产净值与其真正的投资价值之间差距较大 。

The discount or premium of the close end fund reflects the relationship between its value and the price. Contrasting with the instances of the discount of the overseas close end funds, the article analyses the discount of the close end funds in our stock market in terms of supply and demand. We suppose that to some degree the wilder discount reflects many potential problems in the development of the equity funds. The market is still speculative. There is a great gap between the book net asset value and the real value of the investment funds, and some managers′ operations are abnormal.