我国开放式基金投资风格评价方法研究

Study of Evaluation on Investing Style of Open Funds in Chian

基金业绩评价与其投资风格是密切相关的,投资者通过对基金投资风格的研究分类,可以选择适合于自己投资偏好的基金进行投资。本文在对开放式基金进行分类研究的基础上,抓住不同类型基金之间的主要差别,提出了两种新的基金风格评价指标。同时在我国现有的开放式基金中,选取15支样本进行了实证分析和检验,实证结果表明,我国开放式基金的投资风格趋于相同,投资者对于基金宣称的择时能力不可轻信,应该结合投资风格分析进行决策。

Achievement evaluation of a fund has close relations with its investing style. Investors may choose their favorite and suitable funds for investment according to the classification of funds＇ investing style. The paper proposed two new indexes for style evaluation on basis of classified study on open funds, which focus on main differences between different funds. And among existing open funds in our country, 15 of them have been selected as samples to undertake real - case analysis and test. And the results showed investing style of open funds in our country tend to similar. Investors shouldn＇t rely rashly on funds＇ assertion about their time - choosing ability but consider their investing style before making any decisions.