A systematic approach to evaluate funds based on fuzzy FWA method

It is important to establish a systematic and effective approach to evaluating funds for both the investors and the managers of funds. However, evaluation of funds involves with significant uncertainty associated with the experts´ judgments. To deal with the problem, fuzzy set theory is employed to model experts´ subjective judgment, based on which a fuzzy FWA method is formulated for the evaluation of funds by considering the risk, the profitability, the consistency and the fund manager´s performance. Empirical results show that the proposed approach is reasonable and effective.