由于我国证券市场和信托市场建立较晚,相应地投资信托起步也较晚,总体上还处于初步发展阶段。上海市和深圳市分别于1992和1993年颁行投资信托基金管理的规范性文件。1997年10月5日国务院批准颁布《证券投资基金管理暂行办法》,中国证券监督管理委员会颁布了一系列配套性规范文件,使国内投资信托走向更健康、成熟的发展道路。1998年以来,一批规范的基金发行上市,受到市场的欢迎。2001年10月8日《开放式证券投资基金试点办法》发布后,又有若干开放式基金面市。目前我国有证券投资基金管理公司近二十家,管理着五十余个基金、近一千亿的基金资产。但是,近年也出现了私募基金盛行、基金管理公司操作不规范的“基金黑幕”等问题,招致广泛批评。开放式基金先热后冷、基金市场对外开放等发展问题也引人注目。基金盈利不理想。以2002年初为例,五十余家基金中,基金单位净值最高的为1.2418元,最低的仅有0.702元,仅有9家基金单位净值超过1.05元,超过1.08元的 Due to the late establishment of the securities market and trust market in our country, the investment trust started relatively late, and is still in its initial stage of development as a whole. Shanghai and Shenzhen issued regulatory documents for investment trust funds in 1992 and 1993, respectively. On October 5, 1997, the State Council approved the promulgation of the Interim Measures for the Administration of Securities Investment Funds and the CSRC promulgated a series of supporting normative documents to make the domestic investment trusts move towards a healthier and mature development path. Since 1998, a number of standardized fund issuers have been well received by the market. After the release of the “Pilot Measures on Open-ended Securities Investment Funds” on October 8, 2001, a number of open-ended funds were launched. At present, there are nearly 20 securities investment fund management companies in our country, managing more than 50 funds and nearly 100 billion fund assets. However, in recent years, there have also been many problems such as the prevalence of private equity funds and the non-standardization of fund management companies, such as the “shady fund”, which has caused widespread criticism. Open-end funds are hot and cold after the opening up of the fund market and other development issues are also notable. Fund profit is not ideal. To early 2002 as an example, more than 50 funds, the highest net fund unit was 1.2418 yuan, the lowest was only 0.702 yuan, only 9 fund units net worth more than 1.05 yuan, more than 1.08 yuan