指数基金的运作特点及其启示

Operating Characteristics and Implication of the Index Fund

指数基金是 2 0世纪 70年代产生并逐渐发展起来的一种新的投资基金和金融衍生工具 ;从国外的实践看 ,指数基金具有规避投资风险、投资费用低廉、投资监控简明、平均收益水平较高和延迟纳税等优点 ,我国应总结证券市场的发展经验 ,积极创造条件 ,早日推出和推广指数基金 ,促进我国证券市场的完善和发展。

Index funds is a new type of investment fund and a derivative financial tool born in 1970s.Judging from its performance in western counries,index funds have such advantages as reducing investment risks,lowering investment expenses,easy to monitor,having a comparatively higher level of profit margins and postponing tax payments.Therefore,by learning from its past experiences in developing the stock market,China should create more favorable conditions for establishing the index funds so as to develop and perfect China's stock market.