China Investment Fund Performance Evaluation System

From 2006 until now,the capital market of our country is extremely flourishing,which provided a good base for the investment fund industry. In this case,more and more investors are paying enough attention to the development of investment fund industry,they need a performance evaluation system of investment fund badly to guide them to invest.in order to satisfy their needs,Many scholars are performing a lot of research,hoping to construct a proper system that can help investors.this text is also to construct a performance evaluation system of investment fund.Guided by the theories about performance evaluation of investment fund.this text described and analysed the existent performance evaluation system of investment fund at home and abroad,and finally constructed a new performance evaluation system of investment fund. This system included quantitative analysis,qualitative analysis and other ingredient analysis. About quantitative analysis, this text chooses the Risk-adjusted performance ,capital scope ,the ability of investment management and liquidity of the investment fund to analyze. at the same time ,the index above is furture decomposed.for example, the Risk-adjusted performance index is measured by sharpe ratio ,IR ratio and RAROC ratio.the capital scope index is measured by the total share index. The qualitative analysis is measured by evaluating the investment fund managers and investment corporations.this text uses basic information and working experience of the investment fund managers in evaluating them. As for evaluating investment fund ,this text introduced strategic plan,core competion,stratigic cooperation partners and the changes of the high level index to measure.for other ingredient analysis,this text uses capital market,policy system,the expenses of fund investment and the degree of satisfying from clients to measure. This text also pointed some limitations about this system. For example,the evaluation index has some kind of hypothesis,so it is different from the facts.the evaluation course is complex and so on.The last part of this text applies the performance evaluation system of investment fund to practice and gives simple explanation.