易方达积极成长混合基金投资策略研究

Research on the Investment Strategy of E Fund’s Active Growth Mixed Fund

2001年9月,我国首支开放式基金——华安创新混合的诞生,实现了我国证券投资基金由封闭式到开放式的跨越,基金已成为金融市场的重要投资工具,基金管理人的投资策略对基金业绩有重要的影响,该文选取易方达积极成长混合基金为研究对象,从行业配置、资产配置、持股集中度方面进行分析,利用TMFF3模型对基金的选股择时能力进行验证,文章最后分别对个人投资者、基金公司以及基金监管部门提出相关建议。

In September,2001,China’s first open—end fund,Hua’an Innovation Mixed,was born,realizing the leap from closed-end to open-end.The fund has become an important investment tool in the financial market,and the fund manager’s investment strategy has an important impact on the fund performance.This paper selects E Fund’s positive growth hybrid fund as the research object,analyzes the industry allocation,asset allocation and shareholding concentration,and uses the TM-FF3 model to verify the ability of the fund to select stocks and timing.Finally,the paper respectively verifies the ability of individual investors The fund company and the fund supervision department put forward relevant suggestions.