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rities fund management research component , from the characteristics of securities fund management companies , securities companies and securities funds management model centralized fund management company launched three perspectives discussed ; fourth chapter is a securities fund management section discusses the historical development of securities companies and securities fund management company funds management status and direction of development ; fifth chapter is the case analysis, for example with China Merchants securities Co., Ltd. , China Merchants securities Co., Ltd. in the study of the current status and problems of financial management based on the current money management to discuss solutions to the problem .

与西方较为成熟的资本市场相比，中国资本市场的特点是典型的系统性风险过大，但没有相应的对冲工具。的基本性质的存在，带来的直接后果是：投资机构无法合理量化的投资风险，并有效设置止损点。此外，资金的操作量或较大的资产管理业务，其经营的有效性和整个市场的相关性较高。在这种情况下，没有足够的生活空间，专业的投资理念和投资策略。虽然国际资本市场成熟，有丰富的金融衍生产品，如金融期货，期权和掉期合约的价格发现和套期保值功能的金融对冲工具。

And the West compared to the more mature capital market , China's capital market is characterized by typical : systemic risk is too large, but no corresponding hedging instruments . The presence of the basic nature of the direct consequence is this: investment institutions could not reasonably quantify the investment risks , and effectively set the stop point . Moreover, the amount of funding the operation or the larger asset management business , the effectiveness of its operations and the relevance of the entire market higher . In this case, the specialized investment philosophy and investment strategies without adequate living space. While the international capital markets mature have a wealth of financial derivative products such as financial futures , options and swaps with price discovery and hedging functions of financial hedging instruments . From ten years of China's capital market development, has constituted a relatively complete transactions and regulatory system, with a certain scale of investment groups , gradually introduce some financial derivatives
Health products such as stock index futures , interest rate futures and currency futures, etc. , already have a certain amount of feasibility . This innovative performance in the analysis of models and methods of money management , funds management and securities companies combine operations , out of mathematical finance research predicament , and establish a new theoretical framework for securities fund management companies , securities companies so that the value of money maximization play its due role . The downside is that because of the profound financial management theory , practical strong, some of the information is made more difficult, there is urgent need to further deepen the research question .

With the further liberalization of the financial markets , China's securities companies for the management and control of funds concern and attention , has been very popular, people outside the industry to explore and think about all this . As to promote the healthy development of China's financial industry , the securities company as an important link in the current stock market stability and economic development impact is self-evident , and even lead to immediate practical impact . So, to ensure that securities company in charge of the safety and effectiveness of funds type of social funds the majority of investors primary concern . Therefore, China's securities companies to manage