Application Of Mean-Variance Model To The Open-End Fund Portfolio

In this thesis, the classical mean-variance model is used to analyze the open-end fund portfolio. One of the major characteristics of open-ended fund is the flexibility of redemption, the thesis establishes the fund in the general invest portfolio model and fric-tion model in the market.After the behavior of the investment fund analysied, we discuss several market factors which contribute to the redemption, and offer the corresponding models to different funding managers.