China Stock Invest Fund Performance System Research

Investment fund performance measurement is one of the important steps of fund management's evaluation. Nowadays, It is important to make comprehensive analysis to the performance of the fund's industries.The paper makes demonstration research on the Chinese funds in metric ways, including sereral aspect: first, it makes holistic measurement to the fund performance and analyses relativity and applicability of the every guideline using single factor such as Sharpe, Terynor, Jensena which were adjusted by risk. Second, the paper discusses risk constitution and the income decomposing of fund. It decomposes fund system in different period of time and rist constitution that is not systemic respectively. It holds the market and the ability of the stock selection by analysing fund value of β and Jensena analysis fund in different trends by decomposing profit. It then makes attach analysis of the fund performance from time selection and ability of the stock selection. At last, targeting the ability of stock selection and the time selection in the constitution of the profit, it discusses performeance attach using different regression model and the relativity of the ability of stock selection and the time selection. Third, the paper analyses the durative of the fund performance. It analyses rules and characteristics of the durative of the example fund performance. Then, it analyses fluidness of the fund, including connotation and reasons of the coming into being of the fluidness risk, the procreant characteristics of fund fluidness, and it presents the management and defending measures of the fluidness risk of the opening fund. At last, it appraises some of our country's funds using fewer indexs and data in the ways of APH and DEA, the results show that these ways could make reasonable appraising to the investment fund performance.Making objective and scientific appraising to the stock fund performance is very important. It is...