基金收益率排名与计算的比较研究

目前各种财经媒体推出的基金收益率排名存在较大差异,向前复权或向后复权均不能反映基金的实际收益情况。基于定点复权的思想,本文提出新的实际收益率计算方法,重点关注分红对基金收益的影响,并构建分析模板分别对开放式基金和封闭式基金进行研究。针对封闭式基金实际收益率构建的三因子模型,发现封基的实际收益率除了和其自身盈利能力有关之外,对折价率变动、分红再投资收益等因素更加敏感。

Distinction between the Fund Yields

There were great differences in the rankings of fund yields launched by different financial media.The forward or backward restoration of rights can't reflect the fund's actual earnings.Based on the concept of sentinel restoration of rights,this paper presents a newmethod to calculate the real rate of return,focusing on the impact of dividend income,and constructs templates to do research on open-end funds and closed-end funds respectively.According to the three factor model,we find that factors influencing ...