The Empirical Study Of Securities Investment Fund Performance

With the development of Chinese capital market, securities investment funds gradually come into people’s life and become an important part of national economy. The factors affecting the performance of securities investment fund and fund performance research has become the focus of investors. Based on rich countries, the purpose of this article is to research fullgoal fund and other funds, trying to find out the major factors which have great influence to the fund’s performance, and can therefore puts forward suggestions for fund operation.This paper first reviews the development of securities market and performance theory of funds, and then using brinson decomposition method for performance of fullgoal fund in November. Study has found that most fullgoal funds’ excess returns stem mainly from selectivity from stocks. In addition, the high-tech technology, tianbo, high-end manufacturing, small dish selected funds benefited from industry preference and market style is relatively fit. Thus industry configuration yields contribute significantly. Huitianfu Fund and the South Fund, which had good performance, mainly benefited from stock selection.