Style Analysis Of Private Offering Sunshine Fund

Private offering sunshine fund is raised by Trust through the issuance of a specific investor trust scheme, Bank is responsible for the safekeeping of funds, Professional investment management organization acts as investment adviser; the funds invest in the stock market. The thesis is to study from the perspective of trust, with the use of empirical data, quantitative analysis of specific test.investment style will be divided into operating style and stock selection style in the thesis, extracting subsisting30private equity fund data, And using Fama-French three-factor model for empirical analysis, Index earnings and book value are respectively use to instead of valuation factor for multi-angle inspection of investment style. The results show that three-factor model can effectively on private fund investment style’s classification. This study shows that, in the weak market, the fund showed a defensive style, Stock selection tends to higher book value and small cap stocks; Different investment styles sunshine private equity funds actually received quite different absolute return, and most fund products have style drift. This paper argues that the fund’s performance evaluation should not be generalized; performance evaluation should be classified under the premise of style.This paper put forward three proposals to the Trust, The first point is to develop differentiated risk control measures to better control business risks, The second point is classified by style to match customer needs, to get a more appropriate marketing and promotion. The last suggestion is, classifying all the different styles of fund, to help TOT products find preferred investment targets.