The Study On Evaluating Chinese Securities Investment Fund Performance

The method of the fund performance evaluation that comes from the west contains a lot of kinds. But, because currently a great deal of difference still exists in the securities market of our country comparing with the foreign mature securities market in many ways, as a result, the investment fund performance evaluation of our country should go with this circumstance. So to attain the purpose of evaluating fund performance scientifically each fund performance evaluation method applied in our country should be analyzed. First the paper compares each evaluation index and model of the fund performance from the theories. And then it applies each evaluation index and model of the fund performance in the practice of our country. Selecting 48 close-end securities investment funds whose operating time is longer as research object, the paper investigates the income level, the risk level of the funds, and the total performance and the ability of selecting stock and time when the funds risk is adjusted by a great deal of positive analysis. In the course of analysis, it compares the result of applying each evaluation index and model in our country. Because these evaluations index and model are built up by choosing the different risk factor from the different point of views, usually the taxis of the evaluation result by using each evaluation index and model is incompletely consistent. So combining the information that each fund performance evaluation index and model reflects in the positive analysis, and using the multianalysis method , the paper designs the fund performance comprehensive evaluation model that is fit to our country. And using the model the paper evaluates the fund performance of our country.