1940 0.45 68 296 1950 2.53 98 939 1960 17.03 16 1 4898 1970 47.62 36 1 10670 / kloc-0/980 134.7 6 564 12088 1990 1065. 19 3079 6 1948 2000 6964.63 8 155 244705 200 1 6974.9 1 8305 24870 1 2002 6390.3 6 8244 25 1 124 2003 74 14.40 8 126 260698 2004 8 106.94 804 / kloc-0/ 269468 2005 8904.82 7975 275479 2006 104 13.62 8 120 289977 2007 12000.54 982 1 290 1 24 2008 87234.52 99 12 300 126 2009 1032 1.62 1032 1 3 12345
European fund market
Britain is the birthplace of modern European investment funds. /kloc-In the middle of the 0/9th century, Britain established its position as a world trade and financial kingdom, the industrial revolution came to an end, and domestic investment opportunities dropped sharply. Due to the high demand for capital overseas, people who pursue profits begin to invest their money overseas. Among them, small and medium-sized investors who have neither knowledge nor investigation ability seek how to avoid risks and enjoy the benefits as much as possible, so investment trusts came into being. 1868, the world's first investment trust "Trust for Foreign and Colonial Governments" was born in Britain. When the fund was established, it raised10 million pounds, and its operation mode is similar to that of modern closed-end contract funds. The relationship between the two parties is bound by the contract, and the agent is entrusted to use and manage the fund assets. 1873, Scottish Robert? Fleming founded the Scottish Inter-American Investment Trust, the first fund established by a professional institution in the world, to invest in the railways in the New World of the United States. 1879 The British Limited Liability Law was promulgated, and since then, investment funds have entered the era of professional management of joint stock limited companies from contractual type. The first fund with the embryonic form of modern open-end fund appeared in 193 1. 1943, the organization "Overseas Government trust deed" was established in Britain. The fund not only stipulates that the fund company should redeem the fund share at the net asset value, but also defines the flexible investment combination method in the trust contract, which marks the beginning of modern securities investment funds in Britain.
By the end of March 2005, there were 65,438+0,884 unit trust funds in the UK, with assets under management exceeding 398.7 billion euros. There are 397 investment trust funds with assets under management of115.3 billion euros. On the whole, the development of European fund industry presents a strong development trend. The development of European mutual funds represented by France and Luxembourg is second only to that of the United States. During the period of 1998-2005, the number and total assets of European mutual funds increased by 49. 5% and 1 19%. By 2005, the total number of European * * * funds had reached 30,053, accounting for 52. 9%, including 7,758 in France and 7,222 in Luxembourg, accounting for nearly 50% of the total funds in Europe. However, compared with the United States, mutual funds in Europe are smaller. In 2005, their net assets were $6,002.2 billion, accounting for 3.3%. 8%, 665,438+0.5% of the United States.
Europe * * * Same Fund Size (Billion Dollars)
However, it is worth mentioning that the overall development level of European countries in transition, represented by Russia, is low. By 2005, there were 6 15 funds in the Czech Republic, Poland, Slovakia, Hungary, Romania and Russia, with a net asset value of $346120,000, accounting for 2% and 0.6% respectively in Europe, with a development rate of 0.6%. The worst is Romania, with only 23 funds with net assets of1090,000 USD respectively.
Table 4: Overview of European Fund Development 1, Source
(1) 1868, the world's first investment trust "Trust for Foreign and Colonial Governments" was born in Britain. (2)1873, Scottish Robert? Fleming founded the Scottish Inter-American Investment Trust, the first fund established by a professional institution in the world, to invest in the railways in the New World of the United States.
2, the beginning
(1) 1879 The British Limited Liability Act was promulgated, and since then, investment funds have entered the era of professional management from contractual type. The first fund with the embryonic form of modern open-end fund appeared in 193 1. (2) 1943, the "Overseas Government trust deed" organization was established in the UK, which not only stipulated that fund companies should redeem their fund shares with their net assets, but also defined the flexible investment portfolio in the trust deed, marking the beginning of modern British securities investment funds.
3. Rapid development
(1) The overall development of European fund industry shows a strong development trend. The development of European mutual fund industry represented by France and Luxembourg is second only to that of the United States. (2) By the end of March 2005, there were 65,438+0,884 unit trust funds in the UK, with assets under management exceeding 398.7 billion euros; There are 397 investment trust funds with assets under management of115.3 billion euros.
4. Stable development period
(After the early 1990s)
(1) Under the background of economic globalization, the international transfer of new technologies and industries is accelerating, and multinational companies
Multinational monopoly groups such as strategic alliances have become an important form of enterprise production organization and management. (2) In view of the global economic hegemony of the United States, American mutual funds have also shown a global investment trend. (3) American mutual funds also have a global investment trend and convenient and effective international investment channels.