The Open-End Funds' Optimal Portfolio

In this thesis,we use the classic reward-risk model of Harry Markowitz to analyze theportfolio of the open-end funds.we give three different methods to deal with the risk of therandom.Those method involve three models,in which we take,respectively the expectationof the return rate of the asset,the expectation of the return rate of the net asset and theexpectation of the asset extending.We discuss some properties of of the method and obtainsome explicit formulas of the solution.We also consider the condition of no short sale andthe multi-factor models as our tools.