开放式基金中渠道营销对个人投资者的影响研究

Research on Impact of Channel Marketing upon Individual Investors of Mutual Fund

中文关键词:  开放式基金  个人投资者  渠道营销

英文关键词:mutual fund  individual investor  channel marketing

中文摘要:

      在我国开放式基金的投资者中,个人投资者占主导,其投资决策在某种程度上受基金的购买便利程度以及所能获得的理财建议的影响。文章以我国2005—2014年1026只股票型、债券型、混合型以及货币市场型开放式基金为样本,研究基金的渠道营销对不同的基金资金流动和基金规模的影响。研究结果显示,在控制基金的历史业绩后,渠道营销的努力程度越高,基金的资金净流入越多,基金的规模也越大；将基金类型细分后,又发现渠道营销对不同类型的基金资金流入的影响差异很大。总体来看,渠道营销对基金个人投资者的投资决策有着明显的正向影响,增加渠道营销环节的投入,有助于提高基金的资金净流入。

英文摘要:

      The individual investors have taken a dominant part among China‘s mutual fund investors. For these individual investors, the convenience of purchase channel and the financial advice provided by commission agencies may have an impact on their investment decisions to a certain extent. With 1026 kinds of China‘s equity, bond, hybrid and monetary mutual funds during the years from 2005 to 2014 as a sample,this paper studies the impact of mutual funds‘ channel marketing on capital flow and fund scale. The research shows that after controlling the past performance of mutual fund, the more efforts in channel marketing, the more the net capital inflow into the fund and the more the fund scale. When the fund type is subdivided, it varies greatly as to channel marketing‘s impact on capital flow of different funds. Generally, channel marketing has an obvious positive impact on investment decision of individual investors. Hence, more input in channel marketing will help the net capital inflow of the fund.