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本文针对我国开放式股票基金的盈利能力,风险调控能力以及基金经理的择时择股能力,基金业绩持续性等方面进行实证研究,通过选取50只开放式股票基金,利用詹森指数、特雷诺指数、夏普指数三大指标对风险调整收益能力进行评估,通过TM模型、HM模型分析我国基金经理的择时择股能力,得出关于我国开放式基金在盈利能力,风险调控能力以及基金经理的择时择股能力等方面的结论。
This paper conducts an empirical research on the profitability and risk control ability of China’s open-ended equity funds, as well as the fund manager’s ability to choose the right stocks and the performance of the fund. Through selecting 50 open-end equity funds, using Jensen index, Index, Sharp index three indicators to assess the risk-adjusted returns ability, through the TM model, HM model analysis of China’s fund managers’ ability to choose the right time, come to the conclusion of China’s open-end funds in profitability, risk control ability and fund managers The timing of the stock options and other aspects of the conclusions.