证券投资基金的业绩评价是一个在理论和实践中都十分有意义的课题.传统的回归型评价方法对评价基准有较强的依赖性,而基于持股数据的方法则因利用了较多的信息而对基金的择股能力有较强的识别力.利用基于持股数据的方法对中国54个封闭式基金的择股能力进行实证分析,结果显示它们有明显的择股能力. The performance evaluation of securities investment fund is a very meaningful subject both in theory and in practice.Traditional regression-based evaluation methods have strong dependence on the evaluation criteria, but the method based on the data-holding method is due to the use of more Information and the ability to choose the stock has a strong ability to identify the use of the method based on the holding data of China’s 54 closed-end funds empirical analysis of stock options, the results show that they have obvious stock options.