The Research On The Performance Measure Of Investment Funds In China

With the fast development of investmet funds in china ,the ability to accurately measure the performance of funds becomes vital.First.the author retrospects all the achievement about the performance appraisal of funds all over the world , Then she uses single-index analysis and factor analysis to study the performance of the closed-end funds in china.Second, the author use spearman's rho test and kendall taub test to study the consistency of the nine variables, the result indicates that all the other variables have consistency except the variation coefficient (vc) and the beta coefficient(beta). The author also studies the short-time durative of the performance and draws the conclusion that only a few funds have no short-time durative.Third ,the author see about the market-selecting and time-selecting ability with T-M model and H-M model .The result indicates that most of the close-end funds have the ability of market-selcting .while they have no ability of time-selecting.Last ,the author discuss the lack of the performance appraisal method for the open-ended fund,and bring forward her own opinion.