The Research Of Mutual Fund Performance Evaluation And Attribution Analysis

Securities investment fund has developed with the progress of the world economy, especially since the 1980 s. Both in people's financial life, and in the construction and development of the society, it played an important role in the daily life. Since the 90 s, the first securities investment funds appeared in our country. Since then the fund market in our country has also been quickly developed. Especially since 2000, due to the increasingly mature securities market, some Fund Management Company established. The stock market boomed, which led a group of mutual fund companies starting expansion. As the latest data, there were 96 mutual fund Companies in the market, which managed a total of 1,192 mutual funds. Various types of funds appeared in the market that provide much more good choice for the majority of investors.For individual and institutional investors, how to choose a moderate fund is a problem for the investors to face with. It's necessary and valuable to provide an effective performance evaluation method for the individual and institutional investors when screening of investment targets. And it's also essential for the fund market to run healthily for the long run. By this system we can better grasp the present situation of the development of fund industry, and provide valuable advice. Its practical significance is obvious.The fund performance research has been the direction of the professional field for the long time. The academia abroad have been studying the subject much earlier than domestic academia. And for the use of various methods is controversial. Several of funds evaluation agencies also launched their own evaluation methods. This paper will use the most direct methods to evaluate the 10 stock funds. The final results will validate the consistency and feasibility of the theory.The first part of this article introduces the research background and the research methods with framework. The second part is mainly about the domestic and foreign research on fund performance evaluation theory. The third part elaborated research method and data processing. The fourth part is mainly about the results study. The fifth part summarized the results and suggestion to the fund management industry.