| dc.description.abstract | The futures fund, mainly appearing in futures transactions, covers the global financial markets, currencies and commodity futures. In recent years, it has developed very rapidly, largely due to the development and the opening-up of global futures markets and derivative commodity markets. On the other hand, the futures fund differs from traditional fund, with a low correlation between the managed futures strategies and the market, adding futures fund to traditional investment portfolio can not only scatter the risks in investment portfolio, but also can increase the investment portfolio performance. Therefore, in recent years, the futures fund has not only become investors’ major investment tool, but also become institutional investors’ important investment part in their investment portfolio.
Since the Financial Supervisory Commission opened the futures trust enterprises in 2008, two kinds of futures fund have been established by far, which are the Cathay Man AHL futures trust fund of funds issued by Cathay Securities Investment Trust Co., Ltd and the Polaris commodity index futures trust fund issued by Polaris International Securities Investment Trust Co., Ltd.
This paper analyzes in depth foreign managed futures fund development systems, learns other countries’ experiences, and comparatively analyzes the norms and systems among the USA, England and Singapore on the futures fund and our country’s current situation of futures trust fund through analyzing the general situations and systems of the advanced countries in Europe and America. Finally, based on our government’s current system frameworks, this paper suggests the futures trust funds applicable to our country’s futures trust enterprises in fund-raising, and makes the following suggestions on our country to develop futures trust funds： further develop and improve the futures fund markets, expand investment scope and open foreign futures funds and strengthen risk management. At the time when our country’s futures trust markets are ready to take off, if we succeed in borrowing overseas development experiences, we will definitely further prosper domestic futures markets.
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