Bosera Fund Vice President Li Quan: China's fund industry still needs to learn advanced overseas ideas

After a century of overseas financial crisis, a concept slowly spread in China's investment industry, this is the "Idol shattered", the implication is that the crisis so that China's fund industry has not been able to learn the object.　　Bosera Li Quan, vice president of the fund company, is unable to agree with this view, he believes that the Overseas fund industry in the system design is still advanced, the Chinese fund industry still need to remain humble, selective and creative absorption of overseas advanced ideas. "No time" is not feasible in China Li Quan said that learning overseas advanced experience does not mean taking the whole idea of overseas. For example, he objected to mechanically copying the "no time" concept of the Overseas fund industry, "the platform is different, the regulatory legal environment is different, the" time of choice "is not necessarily a reference in China. Li Quan Analysis said that from the product richness, China's fund industry has yet to be strengthened. At present the domestic fund product homogeneity degree is high, the subdivision is not enough, this kind of convergence sex also can enlarge the fluctuation of two level market to some extent. Therefore, China still needs to vigorously promote financial innovation.　　In the absence of sufficient financial instruments, the timing of Chinese funds is necessary. In fact, Li Quan that the United States has its own "timing model", that is, the full use of ETF funds.　　The American ETF variety is very diverse, more than 400, and the US market can be short, and when investors choose different investment instruments in different markets, they are actually doing the timing.　　Li Quan said that in 2008, when the global public offering fund appeared net Redemption, the ETF fund still realized net purchase and realized net sales of $187.5 billion, which is the only fund category to achieve net capital inflow. "When institutional investors in China should choose, Chinese individual investors can also make money when they choose." Li Quan said, Bo-time fund has been authorized to launch the Shanghai stock ETF. According to the plan, the Super Market index will be selected on the Shanghai Stock Exchange listed on the large, liquid 20 super market stocks to form a sample unit. In order to enhance the representativeness and investment of the index, the super-market index stipulates that there are no more than 6 samples in one by one industry.　　According to Li Quan, ETFs will be the focus of the fund this year.　　In fact, since the beginning of 2008, the company, which manages more than 200 billion of its assets, completed two successful choices, in time to lighten up at 4000多-point highs in the first half of 2008, and another in November 2008 when the index fell to a low level. 　　Li Quan said that last year, compared to many overseas funds, the domestic qdii net worth decline is relatively small, one reason is that these funds to some extent, the timing of the operation, which also reflects the independent thinking of China's fund industry. Continue to pursue the concept of pluralism the fund said that "diversity" is the philosophy they have always pursued. Bosera's stock investment department draws on the overseas successful idea, divides into the growth group, the value group, the mixed group, the quantity group and so on many groups, each group pursues the idea is not the same, but the goal is to go through the path of diversity with professionalism. The performance of the number group has been more pronounced since this year. "Li Quan said. This is because the quantity group in this year's investment more value liquidity, mainly using behavioral finance, quantitative finance, etc. to make investment, narrowing the fundamental analysis in the investment weight.　　In this round of rebound, credit easing brings ample liquidity, the fundamental improvement is full of uncertainty, a lot of theme concepts, subject stocks rose very well, the number of the results of the group ran in front. Li Quan that this year the market will show the box vibration, overall, the bottom of the box is gradually elevated. He said he had already set the tone as early as the beginning of the year, and that the investment was based on that.