Research On Performance Evaluation Of Internet Money Market Fund In China

In May,2013,Alipay cooperated with the Fund company Tianhong launched its first Internet money market fund----Yuebao,which attracted more than 10 billion of funds in a short month and the yield was over 7%.The advantages of Yuebao,such us easy operation,low threshold,high liquidity,etc.made it become very popular among many institutional investor.Yuebao has also opened the cooperation model between money market fund and Internet platform and made the year 2013 become the first year of China's Internet money market fund.With the lead of Yuebao,many of this new kind of money market fund has launched at different Internet platform.Just a few years,the Internet enterprise increased a lot and the Internet money market market fund has also developed quickly,but behind this alive scenes,fierce competition has always going on.For those non institutional investors,they usually lack comprehensive knowledge of benefits,risk,security and liquidity of the product,so most of them only pay attention on its benefit,which is obviously unwise.Thus,understanding the differences between traditional money market fund and Internet money market fund,the risk and performance of money market after it combined with internet and having an effective evaluation of Internet money market can not only help China's Internet money market fund develop healthily,but also can help investors get a better understanding of Internet money market fund.This paper firstly introduces the research background,the research status at home and abroad,the contend and method,and also introduces the current development status,the advantages and disadvantages of the Internet money market fund in China,and the differences between traditional money market fund and Internet money market fund.Then theoretically explains the method of fund performance evaluation,including traditional yield and risk index,the three classic index method and DEA model method.This paper chooses 5 representative Internet money market fund as research objects,and selects 40 relatively similar traditional money market fund products as comparative group.Comparing the performance of this two kind of objects during January 1st,2015 to December 31 th,2016 from the above three aspects and finally draws a conclusion: during the study period,comparing with traditional money market fund,China's Internet Money Market Fund shows an obvious advantage.