CTH is short for Knies.
Hedge fund
The English name of Hedge Fund is Hedge Fund, which means "risk hedge fund". It originated in America in the early 1950s. At that time, its operation purpose was to use financial derivatives such as futures and options to buy and sell related stocks, and the risk hedging operation skills could avoid and resolve investment risks to a certain extent. 1949 The first Jones hedge fund with limited cooperation in the world was born. Although hedge funds appeared in the 1950s, they did not attract much attention in the next 30 years. Until 1980s, with the development of financial liberalization, hedge funds had broader investment opportunities and entered the stage of rapid development. In 1990s, the threat of global inflation gradually decreased, financial instruments became more mature and diversified, and hedge funds entered a stage of vigorous development. According to the British Economist, from 1990 to 2000, more than 3,000 new hedge funds appeared in the United States and Britain. After 2002, the return rate of hedge funds declined, but the scale of hedge funds is still not small. According to the report of the Financial Times in 20051October 22nd, by 2002, the total assets of global Hui Kai wealth hedge funds had reached 1. 1 trillion dollars.
According to the World Wealth Report 20 1 1 issued by Bank of America, the average investment ratio of alternative investment is 8% in the asset allocation of overseas high-net-worth people (with financial assets reaching $6,543,800+0,000). The proportion of hedge funds in alternative investments was 27% in 2009 and 24% in 20 10. With the continuous introduction of stock options, index options and other financial derivatives, it will become an important force to promote the development of hedge funds in China, and the hedge fund industry will usher in great changes.
Compared with public funds, hedge funds are a relatively new asset class even overseas, and are usually classified as alternative investments together with real estate investment, private equity investment and venture capital. In fact, the world's first hedge fund is believed to have been founded by Alfred Winslow Jones in 1949, only more than 60 years ago. Hedge funds have a shorter history in China, and the golden period can be roughly counted from 20 13.