Comparative Study Of The Value Of Investment On Grading Fund

Grading securities investment funds are referred to as innovative varieties of fund, also called "structural funds" or "detachable trading fund". The core of design is based on the risk preference of different investors. the ordinary securities investment fund is divided into two parts:the Class A Which is priority and share fixed-income and Class B with a lever share. Grading fund is a mode which can match risk and income through leverage structure adjusting, and match conversion transaction between the ordinary fund and subordinate funds and achieve arbitrage in order to obtain an investment return.In the paper, I use the standard deviation of the rate of return, Treynor index, Sharpe index, and other indicators which is common and easy to grasp and understand. I compare class A with class B, study the market performance of 14 grading fund existing in Chinese securities market respectively and the ability bearing system risk and gaining excess returns in the overall risk, and make the evaluation of performance and the choice of fund investment value through comparison research. Hope to guide the vast number of investors who take part in the grading fund investment.I make an introduction and analysis the grading fund market of the first three quarters in 2011, How to lock the risk and obtain the profit when the class A is discount and B is premium to investors because of the overall financial environment is bad? I propose the investment strategy.