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ABSTRACT
Nowadays, open-ended fund has become the mainstream in foreign mature market. Although it only 10 years from the existence of first open-ended fund in Chinese fund market, the open-ended fund plays an increasing important role in China’s financial market.

From the end of last year to May this year, I have working in Southern wholesale center of UBS SDIC fund management Co., Ltd as an assistant. Through the internship, I find there are still lots of mistaken recognitions in open-end fund marketing. Open-end fund marketing has faced with predicament as the bear stock market since 2008, how to improve marketing is an urgent problem of every fund management company.

This thesis is aiming to examine the factors which have an impact on open-end marketing of China and make a corresponding strategy for fund companies in China as reference. By using “PEST” analysis, “Porter’s five forces” analysis and “4P” theory, the relation between these factors and fund marketing will be clearly analyzed. As the study of existing problems on marketing, the article points out: to make effective fund marketing, Fund Company should make accurate product positioning, expand and cultivate distribution channels, as well as set up flexible and multiple price strategy. Furthermore, brand building and investors education shall be paid more attention.

Keywords: open-end fund, marketing strategy, China, Fund Management Company

Introduction
General background
Financial industry is a fast developing and changing industry, the expansion and prosperity of finance has achieved unprecedented levels with the advent of the 21st century. In modern financial market, securities investment fund has played a significant role. Generically “Investment funds” may be found worldwide, with varying structures and with a variety of names.

Although the standardization development of Chinese investment fund industry is just ten years, it has made marked achievements with the rapid growth of assets under management scale and the number of investors. At the present time, investment fund is the largest investor within Chinese A share market. After years of development, open-end investment fund has become the principal part of Chinese investment fund industry. Since the open-end investment fund was found in 2001, fund management companies were facing the challenges of fund marketing due to open-ended fund’s specificity of purchase and redemption. With the rise and decline of Chinese stock market, the investment will of fund investors is changing, influencing on the developing trend of the whole fund industry.

The fund market expanded rapidly from 2006 and reached its climax in 2007, however in 2008, the scale of Chinese investment fund assets declined for the first time, from 3.28 trillion Yuan of 2007 fell to1.89 trillion Yuan of 2008. In addition, as the increasing number of new open-end funds and great intensity in competition, fund-raising becomes more and more difficult. Because the development of fund marketing in China is not mature, many problems have emerged in the process of fund marketing, fund marketing has become the bottleneck of the development of Chinese fund industry.

Need for the study

Advantages and Disadvantages
Advantages:
Professional Management — Professional money managers research, select, and monitor the performance of the securities the fund purchases.
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