Evaluation And Positive Analysis On Performance Of Closed Investment Fund

Since 1998, China's standard closed investment funds began to operate. Specialized fund managers use the advanced investment method and portfolio, make the funds become important institutional investors in the security market, yield higher returns and offer an important investment channel to small and medium investors too. However, along with the depression of Chinese stock market, it seems that fund has already lost its brilliance of the past. Assessment of fund achievement is the key of this issue. This paper comprehensively evaluates the performance of 54 closed investment funds with factor analysis, reveals the reasons of diversified achievement between funds ^ stock markets and fund management corporations, and makes preliminary decomposition and interpretation of the performance attribution problem. The meaning of this paper lies in: providing a metering method for investor to value securities, hedge investment risk and accurately evaluate fund achievement.