Empirical Analysis Of Performance Evaluation Of Chinese Security Investment Funds

Of late years, Chinese security investment funds(SIFs) get speedy development. At the same time, we face some problems: how to promote SIFs healthy,normatively,speedy developing? how to effectively hold in and actuate action of managers of SIFs? how to train maturity investment concept of investor? Practices give us proof that scientific and legitimate performance evaluation of SIFs can answer the problems.Security investment fund is a kind of collective mode of security investment. Performance evaluation of SIFs of theorists focus on two aspects: 1.Are SIFs can over come market? 2.Do managers of SIFs have the ability of selecting security and occasion of market? Investors even care for the differences of funds,reasons and results of performance,showing in future of funds. As a matter of fact, evaluating performance of funds has four important senses: 1.in favor of heightening investment maturity. 2. in favor of reinforcing restriction and infusion of the managers of funds. 3. in favor of accelerating stable development of fund market. 4. in favor of promoting operating efficiency of security market.SIFs are derived from United Kingdom. Hitherto, SIFs developed more than 140 years. From 1997, Chinese SIFs fall to speedy development. So far, amount of SIFs is more than 82, value of SIFs is more than 1492 hundred million Yuan.The results of studying show: 1.All example SIFs comparing market have obvious advantage. 2.most SIFs can over come market. 3. general SIFs behave the ability of selecting security. All methodologies of performance evaluation of SIFs have quite relativity. The results of rank of SIFs tell us: 1.there are three five star SIFs. They are xinghua,xingke,xinghe. 2.there are three one star SIFs. They are anxin,jinghong,hanxing. In order to more accelerate development of SIFs, we must energetically develop medium institutions of performance evaluation of SIFs; we must make the information announcing of SIFs normative; we must cultivate investors mature concept; we must accelerate innovating steps of SIFs.