Research On Index Funds, A Single Index Model In China

With the application of classical investment securities theory & method and the combination of China security reality with china Fund markets' characteristic, the writer aims at evaluating four funds (Fund Pufeng, Fund Jingfu, Fund Xinghe, Fund Tianyuan) which came into operation since 1999.After estimating the sample model through a fine array data of time and calculating 6 coefficient, this study achieves their single index model and appraises the investment return level of Index Fund.The author acquires that China' s index fund runs well and it is due to the funds' manager choosing the securities excellently, but it can not be proved that the index funds' manager can capture the chance of securities market accurately after making comprehensive appraisal and analvse to the index funds.