Performance Evaluation And Analysis Of Influencing Factors Of Hybrid Funds In China

With the continuous development of China's financial market,fund products have gradually become an important means of financial management for investors.When choosing a fund,investors will not only focus on the return index of the fund,but also consider the risk and the ability index of the fund manager.The income of mixed fund is generally higher than that of bond fund,and the risk is usually lower than that of stock fund.Hope that through study samples mixed type fund performance,this paper constructed a comprehensive mixed type fund performance evaluation system,to help investors choose to more suitable for your market returns and risk preference of fund products,as well as fund investment strategy for fund managers and government to establish scientific and effective fund evaluation mechanism to provide the reference.First,this paper applies the traditional performance evaluation indicators,the comparison of hybrid funds slant,partial debt,flexible configuration and balanced fund performance,then introduces the tracking error,ratio of information,such as rich performance evaluation indexes,finally through the principal component factor analysis,the method of data envelopment analysis(DEA)and multiple panel regression method to establish the fund performance evaluation system of comprehensive.In the traditional index analysis,partial stock and partial debt funds have different performances.In DEA model,the performance of bond-based fund is better.Under different measurement standards,the fund performance appraisal conclusion will also have the difference.Finally,this article selects a number of macro indicators and fund size to conduct a panel regression analysis of the overall and classification of the performance of hybrid funds,and finds that these factors have different degrees of influence on the performance of hybrid funds and their classification,which is helpful for the analysis and prediction of fund performance,the influence of different level have certain help for analysis and prediction fund performance.Finally,through the empirical conclusion to investors,fund managers and fund market regulators put forward some targeted recommendations.