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本文从三个方面对 2 0 0 0年基金年报信息进行剖析。第一 ,从多角度对 3 3只证券投资基金进行分类的结果表明 ,最能体现基金业绩与投资风格差异度的分类方法不是基金的投资目标而是基金管理公司。基金管理公司内部的资源共享是造成这一现象的原因。第二 ,指数型基金在 2 0 0 0年的表现尚不尽人意 ,投资理念亦不清晰。第三 ,保险公司选择基金的标准相当理性 ,注重基金的分红市价比、夏普指数、资产净值收益率几项指标 ,其选择的正确性亦得到 2 0 0 0年基金业绩的证实。
This article analyzes the annual report of the fund from 2000 to 2003. First, the result of classifying 33 securities investment funds from multiple perspectives shows that the classification method that best reflects the differences in fund performance and investment style is not the fund’s investment objective but the fund management company. Resource sharing within the fund management company is responsible for this phenomenon. Second, the performance of index funds in 2000 is not satisfactory, and the investment philosophy is not clear. Thirdly, the criteria of insurance companies choosing funds are quite rational. They pay attention to the indexes of the fund’s dividend-to-market ratio, sharp index and net asset value return. The correctness of the selection has also been confirmed by the fund’s performance in 2000.