我国证券投资基金绩效的研究与评价

我国证券投资基金发展迅猛 ,但是我国在基金绩效评价方法和评价机制发展方面则非常滞后 ,已经影响到投资者对基金的投资 ,阻碍了基金的进一步发展。因此建立有效适用的证券投资基金绩效评价体系具有重要的现实意义。本文从收益与风险、风险调整收益、基金经理人的选股择时能力以及基金绩效的持续性四个方面建立指标体系 ,并用主成分统计分析方法对上述四个方面进行综合 ,试图得出一个度量基金绩效的综合指数 ,对各基金进行全面的评价与排序 ,克服了以往单纯使用一种或某几种方法带来的缺陷与不足 ,为今后我国证券投资基金绩效评价体系的构建与完善以及基金的发展提供借鉴。

Research and Evaluation on the Performance of China's Securities Investment Funds

Though there has been a rapid growth in China's securities investment funds, it is still backward and slow in the development of both method and mechanism of evaluation on the performance of China's securities investment funds. Such serious problem in fund evaluation has an influence on the investors in their investment of funds, which adversely affects the further growth of funds. Therefore, it is of vital and realistic significance to establish an effective and applicable system of evaluation on the performance of securities investment funds. With the method of main component statistic analysis, this paper combines the relatively mature international methods of evaluation on the performance of securities investment funds, in an attempt to get a composite index to measure the performance of funds in order to comprehensively evaluate and sequence various funds. It overcomes the limitations and shortcomings from unitary method previously adopted, and it renders reference not only to the future establishment and further improvement of the system of evaluation on the performance of China's securities investment funds but also to the growth of funds.