Empirical Research In Our Country Open-end Equity Funds Performance

With the development of the securities investment funds in China, they have become important institutional investors since1998.By the day of September30th.2011,there were total67Chinese mutual fund management companies and867mutual funds. The fund net asset value reached2131.003billion yuan, and the scale of fund shares grew to2450.683billion. Trough the past thirteen years, Chinese mutual funds has experienced a five-year bear market of2001-2005, then a bull market of2006-2007, but also a sustained shock after the2008market crash. There is no doubt that Chinese mutual funds occupy an important position in capital market.For most inventors, tough the many star recommended or fund rating and ranking systems give the investors suggestions, fast growing and fierce competition of mutual funds, different styles of the mutual funds, as well as the other financial products make them more difficult to select the proper one.Opposite to the growing abundant raised funds, the ability of the Chinese mutual fund management is uneven. So how to make a valid comparison to raised funds’ performance is a concerned problem in business and academia.Based on the open-ended equity fund samples, this article research the ability of selection and market timing, also analyze other factors how to affect the return of the open-ended equity funds, in order to give the investors a investment guide.