Evaluation And Empirical Analysis On The Performance Of The Open-end Funds

Many foreign scholars have conducted various researches about the subject and proposed massive research models.But this aspect is still in primary stage in our country.Many Chinese scholars used the sutra model of other country to evaluate the investment fund of our country.But with China's fund industry rapidly develop,there is an urgent look forward to a fund for China market status of the Fund more effective performance evaluation system.This article makes use of the data envelope analysis method to evaluate the open-ended funds performance of our country.Such aspects were discussed and studied:Firstly,this article expounds the background and the theoretical,and introduces the research content,the framework and the technical route of this article,Then summarizes the litemtme to the research results of domestic and foreign investment funds achievement appraisal, summarize the current domestic research insufficiency.Secondly, basis of the theory , summary of evaluation methods of fund performance. Establishment of output-oriented CCR model and BCC model analysis of sample data on this article,based on the need to select interval of the research,input indicators and output indicators.Thirdly, Evaluation of performance for 54 open-ended equity fund, in progress analysis of empirical. Efficiency analysis by reference to the collectionanalysis and slack variables analysis.Then useed DEAP V2.1 software with the DEA established to solve the model, for the purpose of relatively ineffective unds and improved way.At last, based on the results of empirical research, this paper puts forwards some suggestions for the development of China's open-end fund performance evaluation.