Demonstration Analysis Of Chinese Closed-end Fund Performance Appraisal System

How to evaluate the Investment Fund Performance is one of the most important actual problems, which is correlative to the healthy development of Chinese capital market. With the fund scale quickly expanding and varieties continuously increasing, the importance of correctly appraising fund's performance is becoming more urgent. According to the reality of Investment Fund Performance Appraisal in the Chinese securities market, this article chooses the Closed-end Fund as the sample to analysis.This article comprises three parts. The first part expatiates on the Fund's meanings, characters, functions and primary sorts. Then this part compares the Fund with other financial tools. The second part expatiates on the general methods of the fund performance appraisal and the general principles about the index settings, from traditional financial index settings and modern models that are used in evaluating the fund performance. The third part brings forward the general principles used in evaluating the fund performance and several influencing factors that should be noticed in the course of evaluating. Then on the foundat ion of summarizing the article designs a domestic fund performance appraisal system and analysis some samples to demonstrate its validity. At the same time the article gives several suggestions to Chinese fund development based on the sample analysis to funds.It is a complicated systemic work that designs and constructs a investment fund performance appraisal system. And the synthetic fund performance appraisal system is the result that I do an academic research for a Long time. The innovation of the synthetic fund performance appraisal system lies in unifying the historic performance, the current activity and the intending development of the fund. The system can avoid the bug that the old ones concentrate on one aspect. So the validity and the applicability of the system are strengthened. The localization of the system is that the system is mostly used in evaluating the fund performance. When the system is used in forecasting the intending activity of the fund, there is a strict condition: it assumes that the fund managers and magnificoes of the fund supervisory company will not change. If there is a change, the veracity of the evaluation will be low.