Research On Investment Strategy Of Star Rock Investment Management Company

China’s private equity investment fund industry is still in a growing period.Most private equity investment fund managers focus on the expansion of the company’s scale and neglect the research and optimization of their own investment strategies,resulting in many problems in their management,such as confusion of investment decisions,weak risk awareness,etc.,which greatly limits their own development To some extent,it affects the stability of China’s securities market.Under the background of the rapid development of China’s private equity investment funds,it is of great theoretical and practical significance to study the investment strategies of private equity investment fund managers.This paper is a case study,taking Star rock investment,a representative private equity investment fund manager in private equity investment fund industry,as the research object,and using a combination of qualitative and quantitative methods to study its investment strategy.This paper makes an in-depth analysis on the investment strategy of Star rock investment from two aspects of stock selection and timing.First,it makes a complete discussion on the stock selection strategy and timing strategy of Star rock investment,then analyzes the actual effect of the stock selection strategy and timing strategy,and uses TM-FF3 model to sum the data of 24 representative private equity investment funds of Star rock investment in the whole cycle The empirical test among different regions analyzes the stock selection and timing ability of Star rock investment.Through the comparative analysis of the effects of stock selection and timing strategies under different market conditions,it is found that Star rock investment has strong stock selection and timing ability in the whole cycle;under different market conditions,the stock selection and timing ability of Star rock investment is quite different,during the bull market and the turbulent market The ability of stock selection is better,but it is worse in bear market;the ability of timing is better in bull market,and it is worse in shock market and bear market.The income of Star rock investment in small-scale companies is greater than that of large-scale companies,and it pays more attention to investment in growth enterprises.Finally,by using some conventional indicators and risk adjusted income indicators to analyze the overall performance of Star rock investment strategy,it is found that Star rock investment pursues long-term performance,better achieves its own investment objectives,and the effectiveness of investment strategy is high.This paper is the first attempt to study the investment strategy of private equity investment fund managers.Based on this study,it can help Star rock investment find out the shortcomings of its own investment strategy,improve its own investment strategy,and provide experience for the development of other private equity investment fund managers and individual investors in China to form their own investment ideas.At the same time,it can provide reference for China’s private equity investment The healthy development of investment industry also plays a positive role.