Maintaining stability means maintaining social stability, but maintaining stability fund is a measure to maintain social stability and sustained economic development in China on the basis of China's national conditions. Not only are many departments responsible for maintaining stability, but there are still many problems in the whereabouts of funds for maintaining stability. In particular, there is no specific detailed account, which cannot completely cover the expenditures directly or indirectly used to maintain social stability.
For example, the expenditures of departments involved in public safety are not only the public security departments and national security departments, but also the armed police, including 6 10, foreign affairs, education, science and technology, social security and employment, and housing security expenditures. Political and legal committees at all levels, national and local petition departments also bear a lot of responsibilities, but their budgets are all included in the scope of general public services, and there is no detailed account.
In addition, there is another kind of fund called stabilization fund, which refers to the fund established by the government in a legal way through specific institutions. Such funds can operate the securities market in reverse, such as buying when the stock market is irrational and the value of stock investment is prominent; When the stock market bubble is rampant and the speculative atmosphere in the market is crazy, the selling method can smooth out the irrational fluctuation of the stock market and achieve the purpose of stabilizing the securities market.
The source of the stabilization fund has legal channels or its basic composition is mandatory, such as national financial allocation and collection from relevant units participating in the securities market. , and does not rule out the placement of shares to investors who voluntarily purchase. Broadly speaking, the stabilization fund usually refers to the fund established by the government in a legal way through a specific institution, which reduces the irrational fluctuation of the market through the reverse operation of a specific market, thus achieving the purpose of stabilizing the market.
Extended data:
It is still uncertain which is the earliest hedge fund. During the great bull market in the United States in the 1920s, there were countless such investment tools specifically for the rich. One of the most famous is the Graham-Newman Partnership Fund founded by Benjamin Graham and Jerry Newman.
In 2006, Warren Buffett declared in a letter to the American Museum of Finance that the Graham-Newman Partnership Fund in the 1920s was the earliest known hedge fund, but other funds may appear earlier.
In the economic recession of 1969- 1970 and the stock market crash of 1973- 1974, many early funds suffered heavy losses and closed down one after another. In 1970s, hedge funds usually focused on one strategy, and most fund managers adopted the long-short stock model. During the economic recession in 1970s, hedge funds were once ignored. It was not until the late 1980s that several successful funds were reported in the media before they returned to people's sight.
The big bull market in the 1990s created a batch of new wealth, and hedge funds blossomed everywhere. Because hedge funds emphasize the income distribution mode with consistent interests and the investment mode of "outperforming the market", traders and investors pay more attention to hedge funds In the next decade, the investment strategies of hedge funds will emerge one after another, including credit arbitrage, junk bonds, fixed-income securities, quantitative investment, multi-strategy investment and so on.
In the first decade of 2 1 century, hedge funds swept the world again. In 2008, the total assets held by global hedge funds reached 1.93 trillion US dollars. However, the credit crisis in 2008 hit hedge funds hard, and their value shrank. In addition, the liquidity of some markets has been blocked, and many hedge funds have begun to restrict investors' redemption.
References:
Baidu Encyclopedia-Fund Form