An Empirical Analysis On Influence Of Fund Manager Change On Chinese Open-ended Fund Performance

Accompanied with the rapid development of Chinese mutual fund industry, thechange of fund manager becomes more frequent. As the key person in mutual fundinvestment, the change of fund manager will lead to the change of fund performanceand gains of fund. This thesis mainly includes three parts: the first part instructs themutual fund and the choice of fund manager, the second part instructs the condition ofChinese mutual fund development and the fund manager's changes. The third partchooses the Chinese open-ended fund as the study object, exclude the money marketfund and bond fund, selects year 2004 as the event study window and 20 samples,studied the influence of fund manager change on Chinese open-ended fund. Throughthis empirical study, demonstrates that the sample fund's performance is improvedafter the change of fund manager.