2006•Science-technology and ManagementRequires access

Empirical analysis of the performance for Chinese investment fund

Hongli Liang

Abstract

This paper discusses the performance of 25 Shanghai Stock Exchange listed closed-end mutual funds' investment from 2003.1.8～2005.10.14 through the Sharpe index and Treynor index which are the most widely used measures.The empirical study finds that as a whole,the sample funds'investment performance exceeds the benchmark's,but they still bore much unsystematic risk.

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Available abstract

Key concepts: Treynor ratio, Sharpe ratio, Index (typography), Investment (military), Economics, Closed-end fund, Investment strategy, Stock exchange