从委托—代理角度看私募基金

Observe Private Fund in Terms of Entrusting

私募基金由于仅仅向少数特定对象募集资金,在一定程度上解决了公募基金中存在的利益主体缺位、激励机制不明确的局限性,同时私募基金管理者(代理人)也具有投资者(委托人)的某些效用函数特征,部分化解了委托—代理双方的利益冲突,是一种较为理想的委托—代理关系。针对我国私募基金的现状,公开、合法、规范地发展私募基金应该成为我国资本市场下一步发展的目标。

This thesis is about discussion of private fund.By contrast to open ended fund,it seeks for capital through some certain investors,makes great improvement in incentive and restructive mechanisms in terms of entrusting.Now,the key to develop private fund lies in regulating the capital market.