129742939265312500_461Stock index future rises in the 20th century United States markets, in addition to directional trading, stock index futures are also widely used in arbitrage and hedging tools, there are a large number of institutional investors to participate in this.
But in the United States in a mutual fund, stock index futures investment small. Investigation found that the United States market many equity funds and index fundsUsing stock index futures, sinolink securities (600
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This multi-purpose of stock index futures as a hedge or carry very different. Studies have found that when the market changes, equity fundsApplication of stock index futures and index funds on strategy is not the same, is based on the investment objective of the Fund Manager's own and the market's judgement. On the market, how the index fund will hold certain positions in stock index futures, but positions will have some adjustments; and the equity fund is different, all his fund managers may be open to reduce the losses.However, the premise of stock index futures and overseas Fund there is also another great feature, the high degree of participation, but the investment ratio is very low. According to the statistical data before sinolink securities, 2009, United States 13 index fund of the fidelity fund management company only 1 is not used only in stock index futures, but refers to a total market capitalisation of only using 1.63% means a total net value of the Fund during the period. 70 main18 using stock index futures in the Fund. Why United States of index funds and actively Fund by long term means to achieve the purpose of asset allocation and management of liquidity, less active short period means? Because United States mutual funds investing in derivatives is subject to strict regulation, the use of derivatives allows the quotas and limits on leverage requirements and marketsShort sales mechanisms, while United States markets to hedge the risk of more tools, in addition to the stock index futures, there are individual stock futures and options, the bear market funds and hedge funds
runescape items, and so on. According to overseas experience, because fund managers and stock index futures on the market to determine large associations, so if the judgment or not, but severe losses weighed on the income of the Fund,Public placement Fund within few really early adopters are not surprising. However, the high liquidity of the stock index futures can give managers a lot easier, for example, you can avoid a lot of money in and out of huge impact on stock prices, establish the appropriate amount of positions on the futures market to be much faster than on the spot market. Fund managers can make investment decisions in stockEstablishment of positions on futures and other derivatives, and depending on the market whether or not to invest stock market, without having to face the risk of large price changes in the market, stock index futures also improves the efficiency of funding. China's stock index futures and margin financing business after the gate opening, funds can be designed more to use their innovative products, because foreign derivatives are not soldLimited, the stock index futures using less. But since China's derivatives are rare and short selling restrictions more stringent, stock index futures a great place.
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