China's Open-end Fund Performance Evaluation Of Empirical Research

The securities funds of our country came into being with the development of the securities market. Since then the securities funds of our country have become larger and the varieties of them more and more various. They become very important institutional investors and influence our country's finance and economy. The research of fund performance evaluation is important to accelerate the development of funds. It is significant to found a mature system of funds performance evaluation for the investors and funds management companies. For the investors they can avoid losses which are caused by false information and make correct invest choices; For the funds management company they can find the shortcomings of the invest plans and enhance their management. Compared with rapid development of funds market the evaluation about funds performance is greatly lagged.Much research has been done on the performance evaluation of funds, and some experts abroad have set up a mature and systemic theory system through decades of hard work. But related research in China is still very primary because the securities investment funds appear and exit in China for a short time. Much of them focused on the closed funds, because the closed funds appeared longer time than the open-ended funds. This paper examines and studies the open-ended funds performance. The research of the open-ended funds can reflect the real performance without the profits of coming from the distribution of new stocks.The content of each chapter is arranged as follows. In chapter one first it introduces the value of the funds performance evaluation, then it reviews the study on relevant content in our country and foreign countries. Lastly it introduces the methods and instruments of research in this paper. Chapter...