Evaluation System of Mutual Fund - Theory, Methods, Empirical

Author: Tang Yuojing
Publisher:
Publish Date: 2006-11-01
Features: This book systematically reviews and summarizes the theories and methods of evaluating fund of funds. Through a comparative study of domestic and international fund evaluation systems, as well as the unique institutional and contextual factors surrounding the survival and development of Chinese fund of funds, along with the complex socio-cultural and market environments, it proposes the establishment and improvement of a fund of funds evaluation system in China. This system aims to reflect the overall performance level of funds from multiple levels and perspectives. While introducing major domestic and international research findings and literature, the book also summarizes, synthesizes, and contrasts them, designing a fund of funds evaluation system tailored to China's specific market conditions. Additionally, it offers suggestions and recommendations for selecting key evaluation indicators. Compared to previous studies, this book has the following characteristics: (1) It is the first to incorporate the evaluation of fund management companies into the fund of funds evaluation system. (2) It analyzes the profound institutional background and unique market and socio-cultural environments in which Chinese fund of funds operate, emphasizing that the establishment of a fund of funds evaluation system in China should focus more on the deep-seated factors influencing fund performance, thereby reflecting the sustainability and stability of fund performance. (3) The book also points out that the construction of a fund of funds evaluation system is a complex systematic project, requiring corresponding supporting measures and institutional environments. Therefore, the author proposes policy recommendations from several aspects, including the establishment of fund evaluation entities, the exploration of profit models, the development of standardized fund evaluation practices, and the support for the fund evaluation industry. It clearly identifies the roles and responsibilities of securities regulatory authorities and the fund industry association in the development of the fund evaluation industry and the construction of supporting measures for the fund evaluation system.