Fund Management Evaluation System: Theory, Methods, Empirics

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 fund evaluation systems in China and abroad, as well as the special institutional and background factors and complex socio-cultural and market environments that influence the survival and development of fund of funds in China, it proposes the establishment and improvement of a fund of funds evaluation system in China. This system reflects 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 compares them, designing a fund of funds evaluation system tailored to China's unique market conditions. Additionally, it offers its own ideas and suggestions 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 special market and socio-cultural environments in which China's 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 relevant 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 China Securities Regulatory Commission in the development of the fund evaluation industry and the construction of supporting measures for the fund evaluation system.