Based On Factor Analysis Of Securities Investment Fund Performance Evaluation

Securities investment funds in the development of our country, although only ten years development, but very quickly,nowdays, the size of the fund is equivalent to fund established 40 million times, along with our country economy and social development, continuous to fund the financing needs has also increased, so the securities investment funds in the capital market gradually showing its importance and enthusiasm. Yet it is hard to see, securities investment fund performance each are not identical, even the same fund management company's performance also differences, so what is the reason of the influence of different, how to fund performance comprehensive evaluation, this will be the research purpose and direction.Based on the various methods of assessing fund performance comparison results show that, compared with other methods of factor analysis method can overcome the comprehensive, the single factor's faults, comprehensive evaluation, and factor analysis fund performance can be very good reflects the influence factors on the contribution of fund performance. According to the fund performance factors, this paper selects the risk of the fund income and expenses, risks adjustment income fund, the fees of fund, the fund size, the fund manager ability, the fund asset allocation, a fund investment style and growth, and using the factor analysis method, eight indexes of 20 fund in 2009, this year's performance, and make comprehensive evaluation of the 20 samples funds in 2009, the results indicate that the return of the fund and the fund manager of the choice have the largest contribution of fund performance. Finally, this paper will sample the comprehensive evaluation results and the fund of the morning star rating company evaluation result.