A Design For The Mutual Fund Portfolio Manage System

As an important part of institutional Investors, the viewpoint and way of Securities investment funds get widespread attention. For the fund manager, the choice of investment portfolio is significant to disperse risk as well as improve returns. A rational investment portfolio should take investment size as well as macro-economy and industry analysis into consideration. In this paper we will make a general analysis of investment portfolio management of fund.In view that the closed-end funds in China do not have broad representation, we only consider the behavior of open-end funds. On the basis of open-end funds holding stocks data, we use component analysis method to study the components when fund managers choose stocks. The conclusion is that book value per share, systematic risk of the individual stock, the age, earning per share and the other five components are the most representative guidelines. With these components, we design a model to describe the characteristics of open-funds in choosing investment portfolio and make a regression, which give specific meanings of these components. In order to validate the model, we estimate a series investment portfolio and compare them with the market portfolio and holding-stock portfolio. The results reveal that our model has practical meanings.