Research On Open-Ended Fund Performance Evaluation Of China

The open-end fund, as a new type of investment instruments, has been widely accepted by investors and proves itself to be very promising in the future. However, we notice that the researching development of the performance appraisal of domestic investment funds lags behind the fast growth of the open-end funds market, and the existing performance appraisal system is not very perfect. So by building an open-ended fund performance assessing index system according with the situation of our country to assessing its performance have a critical theoretic and realism significance.Based on the aggregation of theoretical study and empirical study, as well as the present situation in China's fund market, this paper builds up a comparatively comprehensive and systematic open-ended fund performance rating system in accordance with the fund industry in China, and according to the specialty of china security market and uses the real data of Chinese open-ended funds to carry on empirical analysis.The paper firstly demonstrates the common theory of open-ended funds, and gives a brief analysis to the actuality of it in China. Then introduce several popular methods of how to estimate the achievement of security investment fund in the world, and analyze the feasibility of the assessment of mutual funds achievement in our country. In main body, the paper firstly analyses existing assessment system of open-ended funds in China and points fault, and combining the characteristic of china security market. Based on amelioration of existing indexes, the paper puts forward new index and proves its superiority by demonstration. Finally, appraise the investment performance of the first 15 open-ended funds in China by index system of the paper. Then educe that the performance of the open-ended funds in China exceeded the benchmark numerously, however its action need more criterion. This directs investment of open-ended funds for investors at a certain extent.