DocumentCode :
2767096
Title :
Empirical analysis on performance evaluation of stocks open-end funds in China
Author :
Wang Peng ; Liu Yucan
Author_Institution :
Sch. of Econ. & Manage., Nanjing Univ. of Sci. & Technol., Nanjing, China
fYear :
2012
fDate :
2-4 July 2012
Firstpage :
371
Lastpage :
375
Abstract :
China´s equity investment fund market is developing forward at a rapid speed in recent years. As an investment tool of profit sharing and risk diversification, stock open-end funds are playing a more and more important role in stabling security market and optimizing resource allocation. Getting a knowledge about scientific and reasonable measurement methods, investors can make best decisions in selecting funds according to their investment style. Using new, survivorship bias-free data, we examine the performance of 40 active domestic equity institutional products. Using the CAPM model with the Treynor index, the Sharpe index, the Jensen index and the T-M model, we carry out an empirical analysis and draw a conclusion, on basis of sample funds´ historical data from Jan 1st 2009 to Dec 31st 2010.
Keywords :
decision making; investment; risk management; stock markets; CAPM model; China equity investment fund market; Jensen index; Sharpe index; T-M model; Treynor index; active domestic equity institutional products; decision making; empirical analysis; performance evaluation; profit sharing; reasonable measurement methods; resource allocation optimization; risk diversification; scientific measurement methods; security market; stocks open-end funds; survivorship bias-free data; Benchmark testing; Indexes; Investments; Mutual funds; Portfolios; Security; Timing; empirical analysis; open-end fund; performance evaluation;
fLanguage :
English
Publisher :
ieee
Conference_Titel :
Service Systems and Service Management (ICSSSM), 2012 9th International Conference on
Conference_Location :
Shanghai
Print_ISBN :
978-1-4577-2024-6
Type :
conf
DOI :
10.1109/ICSSSM.2012.6252257
Filename :
6252257
Link To Document :
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