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随着全球一体化格局的形成,中国金融市场发展势头迅猛,特别是资本市场上从无到有,其中私募基金已成为不可或缺的重要组成部分。私募基金虽已历经20余年的发展历程,但相比国外存在起步较晚的客观现实,发展水平也相对较低,仍处于初级阶段。投资者的风险意识、风险承受国相对有限,且投资者的盲目投资行为、基金管理人的违规操作以及监管体系的不健全,更是使私募基金成为了资本市场潜在的不稳定因素和危机,加剧了投资者的投资风险。对私募基金的监管,相比之下发达国家有着较为先进的理论,本文比较研究了一些国家的先进管理制度,在此基础上结合中国的政治经济,提出可借鉴的思路。
With the formation of the global integration pattern, the development of China’s financial market is gaining momentum. Especially in the capital market, private equity funds have become an indispensable part. Although private equity funds have gone through more than 20 years of development, they still have a relatively low level of development as compared to the objective reality of a relatively late start in existence abroad. They are still in their infancy. The risk awareness of investors, the relatively limited risk-bearing countries, and the investors’ blind investment behavior, the irregular operation of fund managers and the imperfect regulatory system make private-equity funds become potential instability factors and crises in the capital market. Exacerbated the investment risk of investors. In contrast, developed countries have more advanced theories on the regulation of private equity funds. This paper comparatively studies the advanced management systems of some countries, and on the basis of this, combines the political economy of China and puts forward some ideas for reference.