An Empirical Study On The Risk Evaluation Of Internet Monetary Funds In My Country

2013 is known as the first year of China’s Internet Finance,in June of 2013 Yu’E Bao was born,as a kind of Monetary Fund connected with the Internet,because of its convenience,high profit and high liquidity to attract a lot of investors,the user can put in the hands of idle funds in the account of appreciation and can pay or withdrawal at any time.Subsequently,many Internet companies like Baidu,Suning,JDcom and T encent followed the practice,pushed out a series of the internet monetary fund which connected with fund company.Thus the internet monetary fund get the unprecedented development in our country.The rapid growth of the internet monetary fund shows that people are looking forward to it,and whether its risk will be magnified but not unknown after integrating the internet risk factors.Therefore,it is necessary to evaluate the risk of the internet monetary fund.Under this background,this paper makes a comprehensive analysis on the research of Internet monetary fund by scholars at home and abroad.It not only analyzes the characteristics and risks of operation management from the theoretical part,but also quantifies the risk of all Internet monetary fund from the empirical aspect.In the theoretical part,the definition of the Internet monetary fund is first defined.In this paper,it is considered that the Internet monetary fund of China refers to a new type of Internet financial management tool,which is based on the third party payment platform based on the fund management company,with the help of the idle funds on the platform,and investment in the money market tools.Then the paper collects and introduces the characteristics and operation mechanism of each fund.The last part introduces the risks of China’s Internet monetary fund,.In the empirical part,the data statistical test and ARCH effect test are carried out in turn.According to the test results,the GARCH(1,1)model is established to fit the return sequence of the sample fund.In order to better fit the fund sequence,the corresponding T-GARCH and E-GARCH model are established on this basis,and then the model is established from the distribution of T and the distribution of GED,which can better fit the related funds.Model and equation.On the basis of establishing related models of various funds,VaR is calculated,and RAROC indicators are selected to evaluate the performance of China’s Internet monetary gold.Finally,a comprehensive analysis of funds,such as fund share,income,risk and RAROC,is carried out.This paper analyzes various indicators of the Internet monetary fund through comparative analysis,so that investors have a comprehensive understanding of the riskand performance of the Internet monetary fund,and can improve the awareness of risk prevention and try to guide investors to invest rationally.