【作者】 宛旭明；

【导师】 林元辉；

【作者基本信息】 广西大学 ， 金融学， 2004， 硕士

【摘要】 期货投资基金是期货市场发展的必然产物，从世界范围来看，期货投资基金的出现对于期货市场的稳步发展起到了巨大的推动作用。 就我国而言，经过十多年的不断探索和实践，中国期货市场已经开始进入法制化、规范化发展的新阶段。目前，我国已经具备了设立期货投资基金的基本条件，制约基金发展的约束条件正在或即将被突破，设立期货投资基金已是我国期货市场发展的必然选择。鉴于此，笔者总结借鉴国外期货基金和国内证券基金的运作与监管经验，并结合我国期货市场现状和相关法律法规要求，深入探讨和构建了我国期货投资基金的运作与监管模式。 运作模式方面，以对比分析、定性分析和定量分析为基础，从“应该怎样做，为什么这样做”的角度出发，对包括基金类型的确定、基金的设立与募集、基金管理公司的组织结构与内控制度、基金的投资运作、估值与收益分配、托管与信息披露等六部分内容进行了详细的阐述。 监管模式方面，在总结美国监管经验的基础上，结合我国证券投资基金监管的实践，详细探讨了我国期货投资基金监管的法律依据、监管的主体架构和监管的主要内容。 最后，笔者对与期货投资基金运作和监管相关的两个理论问题作了阐述，一是基金的投资与投机问题，二是基金的立法与管理问题，指出要正确对待并适度控制期货基金的投机，基金的设立应该规范起步，在规范中发展，并在发展中进一步规范。更多还原

【Abstract】 Future investment fund is a natural result of futures market development and it is a great improvement to the stabilization of futures market.As to the circumstances of China, futures market have moved to a new phase of legalization and standardization. At present, China has all the necessities for future investment fund operation, and it is a must for its appearance in China’s market.With regard to this, the author discusses and tries to construct a mode for the operation and supervision of future investment funds.On the basis of contrast & comparison, together with qualitative and quantitative analysis, the paper expatiates on six parts: kinds of funds instauration & collection of funds organization structure of fund management company and control system inside the organization investment operation of funds appraisal & profit allotment trusteeship and public information, all of above are concerned with modes of operation.As to the matter of supervision mode, the paper shed lights on the legal gist main structure and most important contents of future investment funds in China by theory and practice.At the end of the paper, the author narrates two theoretical problems concerning future investment fund operation and supervision: one is investment and speculation of funds, the other is the legislation and management of fund. And the author holds that a correct attitude towards speculation is needed, and at the same time should be within appropriate control. The establishment of fund should be in a standardized form, and it should also be developed in a standardized manner.更多还原