The Empirical Study Of The Performance Evaluation Of Our Equity Open-end Fund

In1998, the first two strict enclosed securities investment funds-Funds Jin Tai and Funds Kai Yuan were established. China’s fund industry has experienced rapid development in the next ten years, asset size has grown, fund species constantly enrich, and innovative products continue to emerge. Become the main institutional investors in the capital market and play the role of mainstay; On the other hand, collective investment securities investment funds, dispersed risk, financial experts and other unique advantage won the recognition of the vast number of investors, and become a regular choice of the daily life of residents in finance and investment, and including open-end fund has gradually become the mainstream in the fund market.In this context, the evaluation of the performance of the Fund has a very important practical significance. An objective, scientific, fair and practical establishment of the fund performance evaluation system, which is very important to the continued development of China’s securities investment funds, is necessary.In this context, I have chosen to study the operation of open-end funds of China’s stock performance, which this paper the main contribution of the following:(1) This article from the Fund’s ability to balance the benefits and risks, management ability and performance of three persistent, I use a dozen indicators and the systematic and comprehensive evaluation method for sample operational performance of the Fund in the period investigated(2) To evaluate the risk-adjusted income indicators and fund management capabilities, I not only do fund performance against the indicators reflect the evaluation and analysis of the correlation between the various indicators or estimated coefficient, and try to explore the consistency of the evaluation results between different evaluation indicators and evaluation methods(3)1used more novel transfer matrix method and performance indicators continued analysis, and try to explore the impact of the fund managers change of Fund Performance Persistence(4) I used the latest data, so I can provide a more comprehensive examination of the performance of the equity open-end funds operate in different market environments.Finally, based on the results of the thesis, I have come to the results on the performance evaluation of the fund, and fund market development and fund investment recommendations...