Research On Chinese Hedge Fund Manager's Science And Engineering Background And Stock Fund Performance

To date,China's hedge fund industry has developed into an important participant in China's financial market.As for hedge fund products,the fund manager,as the maker of investment strategy and the executor of investment behavior,has an important impact on the performance of the fund's product investment.This paper takes the science and engineering background as the research perspective,and selects the Chinese stock type hedge fund products as the research object in the period of April 16,2010 and December 31,2017,and examines the influence of the science and engineering background of the hedge fund manager on the performance of stock fund products,and provides the micro evidence for the performance of hedge fund managers' individual characteristics.The empirical study finds that,although the background of science and engineering can reduce the risk level of fund products,it has no effect on fund performance.In the sample of three-seed strategic fund products,science and engineering background can reduce the risk level of stock multi-head strategy and stock multi-short strategy fund products,but the effect on fund product performance is different.In market-neutral strategy,science and engineering background has no significant influence on fund product performance and risk level.This paper aims at studying the impact of the technical background on the performance of the fund products,and provides the microscopic evidence of the influence of the Chinese financial market data on the influence of the individual characteristics of the fund manager on the performance of the fund products.The conclusion of this paper also extends the empirical literature in this field.