An Empirical Study on Performance Evaluation of China's Stock Open-end Fund

With the rapid development of securities investment fund,the size and the type of funds increase very fast.The result is that the performance of funds gains more and more concern from the society,and it is important to the performance evaluation of securities investment funds.The author introduces the general index of fund performance evaluation and chooses 30 stock open-end funds as research samples.First,an empirical analysis is made on the return and the risks of China's stock open-end investment funds by using average rate of return,standard deviation and systematic risk.Then a further empirical study is made on the performance of sample funds by using Jensen index,Treynor index and Sharpe index.Finally,by borrowing T-M model and H-M model,security selection ability and timing ability of fund are evaluated.