Research on the Connection relationship between Private Offering Fund and Share Price Index Futures

Abstract

With the deepening of the reform of China's financial system, private offering funds have been becoming an important part of China's financial system, but there is little research on the index of private offering funds. This paper constructs an index, which covers 86.87% of the private funds for futures strategy, can better reflect the performance of those kinds of funds. Through Granger causality test, the IFLX1(a kind of share price index futures) is a factor that affects the performance of private offering funds in the short term, and in long term they are both factors to each other. The establishment of private offering fund performance index, is conducive to investors and regulatory authorities to further understand the status and history of the private sector. A scientifical private offering fund performance index does not exist at present, so this paper introduced the performance index of private offering funds to improve the financial indicators system.it has a strong theoretical and practical significance.