Research On The Investment Strateies Of Funds

In the past seven years, There were substantial developments on the fund of our country .But the investment strategy level of fund managers was poor, so that the big area losses of the whole business appeared in recent years.On the basis of modern theories,under the conditions of the efficient market hypothesis,with the notion of conquering the market,from the standpoint of fund managers, This paper discusses the fund investment strategy especially Dynamic Asset Allocation strategy in detail,to find out the proper market situation just applied to different strategies. We draw a conclusion that Buy-and-hold strategy is only fit to bull market, constant-mix strategy is applied to adjustment market with no mega-trend,and that portfolio-insurance strategy is propitious to the market obviously with mega-trend.In the end the paper makes a positive analysis on fund investment stategy from the realastic market condition of our country,compares profits and risks of different investment stategies,and get the optimal investment strategy,hence test market adaptability of different investment strategies.