Study On Competitiveness Of Fund Management Company And Performance Of Fund

Open-end fund is the corresponding definition to closed-end fund in accordance with the different mode of operation to purchase and redemption. And at the same time, in accordance with the different Fund’s investment objectives and scope, open-end funds can be divided into open-end equity funds, open-end hybrid funds and open-end bond funds. The open partial stock funds in this paper is the funds that invest in the stock market mainly, which is publicly issued to non-specific investors. Chinese funds belong to contractual funds, whose investment operations mainly depend on the fund management company, which is not the owner of the funds, but a manager that accepts investors consignation to manage investment.Based on the research of enterprise competitiveness theory and fund management company’s core competence theory, as well as the review on the study of domestic and foreign fund performance factors, the paper focuses on the competitiveness of fund management company and the impact on its fund performance. The paper starts from exploring and defining the competitiveness of fund management companies, and then, build the fund management company’s competitiveness indicators in a qualitative way, which includes three levels, nine indicators:popularity, the average level of education of senior leadership, the average rates of the funds, market shares, the Fund’s average income level, team stability, the fund manager’s tenure, the number of funds and the improvement of the product line. Through the research on domestic and foreign Fund Performance Assessment Model, building the rational model by applying the fund management company’s competitiveness index and fund performance indicators, the paper finds the impact of competitiveness of the fund management company on fund performance and determines the impact of effectiveness, based on OLS regression, and comes more meaningful conclusions:there is no significant correlation between the capital background and the competitiveness of the fund management; the fund management company’s team has better stability, the Fund has worse performance; fund management company’s competitiveness index has a significant effect to its open-end fund’s performance. This paper also briefly Comments on the methods used in OLS regression and the final conclusions, as well as prospecting the research related.