我国基金经理特征与基金业绩相关性的实证分析

Empirical Analysis on the Relationship between the Personal Characteristics of Fund Managers and the Fund Performance

基金经理的个人特征以不同方式影响基金经理的投资倾向,进而影响基金业绩。基金可分为股票型与混合型基金、债券型基金和货币市场型基金三类,选取基金经理任职年限、是否兼任其他基金、历年任职的基金公司数、年龄、性别、团队人数等10种要素进行统计,计算不同类型基金的超越基准算术平均年收益,结论显示:股票型与混合型基金业绩与任职年限、是否兼任其他基金和历年任职基金公司数这三个因素显著相关、债券型基金业绩与年龄和性别这两个因素显著相关、货币市场型基金与团队人数这一因素显著相关。

the personal characteristics of fund managers affect his invest propensity by many ways, thereby affecting the performance of fund. Funds can be divided into stock and mixed type, bond type and monetary type. According to 10 kinds of statistical factors such as the working years, whether working at other funds, the number of fund companies over the years worked, age, gender, number of teams, we can calculate the arithmetic average annual profit rates. It shows that the achievements of stock and mixed type have a significant correlation with such three factors, the work ages, whether working at other funds, the number of fund companies over the years worked. The achievements of bond type were affected by the work ages and gender, and the achievements of monetary type were affected by the numbers of the team.