Study On Performance Of Open - End Fund In China

Although the first Open-ended Fund had been founded for only four years, it has been rapidly developed not only in its size but also in its categories.Up to May,2004, the number of the Open-ended Fund has been eighty and the dimensions has been RMB188,426,000.Also the size of single Open-ended Fund has been developed so rapidly that the super ones(exceeding RMB100,000,000) present themselves.By and by ,more and more influence of Open-ended Fund has been shown in the stock market.All these has shown that the Open-ended Fund has been one of the important institutions.Of cource, as our capital market theories are thin,the rapid developping of Open-ended Fund call for our settlement.Facing so many choices, it is difficult for ordinary investor to choose one fit him/her. So the Open-ended Funds'performance needs lucubrate and it is necessary and urgent to construct an objective Open-ended Funds'performance evaluation system.First this paper defines Open-ended Funds'performance. Surrounding its five aspects, we have selected relevant finance models and constructed evaluation system. By this system we study seventeen Chinese open-ended funds. The conclusion is shown as following: Compared with other investing methods, the Open-ended Fund is excellent.But it is obviously that the performance of foreign funds is better than ours. It is the reason that the foundation to support the development of our open-ended funds is absent. So only by improving the foundations can we accelerate the performance of our Open-ended Fund.