A Theoretical And Practical Study On Open-ended Fund Performance Evaluation In China

Though open-ended fund market developed rapidly recent years, the development of the research on the performance of the open-ended fund evaluation lags behind relatively in our country. On the basis of combining and digesting the fund performance in ripe market and the assessing theory, this text combines the characteristics of China's securities market and Chinese fund industry as well as develop reality, takes four perspectives like the fund income and risk ability, manager's investment managerial ability of the fund, the source and analysis of the fund performance, and the achievement constant ability, selects authoritative indexes in the world as Jenson index , Sharp index , H-M model , T-M model, the Fama achievements ownership analysis, the regression analysis method and so on, carries on the definition and revision processing to the related computation target simultaneously, establishes a frame of an overall, objective, scientific comprehensive appraisal system of fund performance, which has been applied to Chinese fund market as an real example.In the real diagnosis research, this article selects 16 stocks open-ended fund which carried on three years, transferred 137 weeks data, appraisal system of fund performance has made from the whole to open-ended funds investment performance in our country, carries on the appraisal and the mutual comparison to the single fund performance, and provides certain help for the investor, the fund management company and the supervision authorities...