The Empirical Research In The Performance Evaluation Of Mutual Funds In China

The securities investment fund is an important part of the development of financial market, with hundreds of years history in the developed countries. China launches its fund business in the late 1980s. With the rapid development of china s open-ends mutual fund business, the fund management companies gradually formulated its stable and characterized investment strategy and operations. The performance evaluation of open-end mutual fund attracts more and more eyeballs in China market.This paper firstly introduces fund performance evaluation theories and relevant classic models. It then empirically analyzes China s stock mutual funds using various models, in terms of its overall performance, securities selectivity ability, market timing selectivity ability and the sustainability of fund performance. Based on the empirical analysis result, it analyzes the applicability of various classic models to China s open-ends mutual fund market.