| With the financial products into people’s lives,the fund began to enter the field of vision.After years of exploration、practice and improvement,China’s fund market has reached maturity.As an important investment tool in the capital market,because of its professional management、variety and collective investment,funds are recognized by more and more investors.On the basis of trust,investors and fund managers form a principal-agent relationship.Fund manager as a fund company staff acting as investors conduct capital operation and product mix in the capital market,although the fund manager only charge a certain fee as their own remuneration but bear the huge responsibility of managing investor funds,they are the key players in the entire fund investment market open equity funds is similar to stock market trends,they need fund managers to obtain excess returns by active observation、analysis、combination and investment.This kind of product’s number and scale accounts for a large proportion in the fund.To a certain extent,income can affect the overall income of the fund products.Many scholars try to use various methods to evaluate fund performance,in order to find the common ground of outstanding performance fund products.Foreign scholars have found a more mature theoretical evaluation methods.On the basis of foreign theories and methods,china’s scholars in different periods、types of fund samples for empirical analysis.These results provide a reference for investors to choose funds to some extent.On the basis of the above theory,this paper selects some open-end equity funds to study the relationship between performance and individual characteristics of fund managers.On the one hand to understand the operation of china’s fund market in recent years,on the other hand,it also explores the relationship between fund manager’s personal characteristics and fund performance.From the perspective of fund managers,this paper considers the factors affecting performance and use portfolio theory、principal-agent theory and expected performance theory to analyze performance by education area、degree、managed funds、sex、science and engineering background、tenure and certificate.This paper analyzes the current situation of china’s fund market by using Stata model to linear regression and through the distinction between personal characteristics and performance.I hope this paper has some reference value for investors. |
