Researches On The Performance Appraisal And Risks Of Domestic Security Investment Funds

With the development of market economy and deepening of opening to the outside world, the funds industry will have a broad and bright future for its development. And researches on the performance appraisal of domestic security investment funds operation, the risks of funds investment and the countermeasures against the risks, are the important issues in the developing process of domestic funds industry.Based on case researches, the dissertation mainly concentrates on the performance appraisal of domestic security investment funds operation, and then discovers the interior questions in the management of funds investment, and probes into the reasons and the countermeasures of the risks.Generally, the appraisal of funds operation performance is mainly from two aspects: the funds investment performance and the investment capabilities of the funds managers. The methods of performance appraisal mainly include investment-return ratio, comprehensive performance appraisal index and Var measurement system, and etc. With those said methods, the dissertation appraises the performance of domestic funds, and compares the virtues and defects of different appraisal methods, and then finds the more excellent appraisal method of funds. The essence of the evaluation of funds managers capabilities is the evaluation of the capabilities of funds managers' making investment decision, which includes: the ability of selecting securities, diversifying the risks and seizing market timing, and etc.The purpose of evaluating domestic funds is to find and settle the questions. Based on case researches, the question of risks is the most outstanding among the questions existed in the process of investment management of domestic security investment funds, and so the dissertation is done further analysis and discussion on the risks of domestic security funds. The researches indicate that, the risks of domestic investment funds are mainly due to the imperfections of security market, the low quality of marketing company and the shortcomings of funds system. In addition, aiming at different reasons of the risks of funds, the dissertation has put forward some proposals on policy.