【作者】 彭聪；

【导师】 李豫湘；

【作者基本信息】 重庆大学 ， 技术经济及管理， 2005， 硕士

【摘要】 投资基金在国外的发展己经有一百多年的历史,以其方便投资、专家管理、分散风险和规模经济的独特优势,成为了当今风靡全球的新兴投资方式,在世界金融市场上扮演一个举足轻重的角色。我国投资基金的发展仅十多年的历史,它作为一种大众投资工具,已受到投资者的青睐,同时为发展和稳定证券市场,起到了不可低估的作用。本文在对国内外有关影响证券投资基金绩效因素研究综述的基础上,重点研究了基金经理对基金业绩的影响。文章从分析我国基金经理市场的状况、个人特性入手,在此基础上找出了影响基金业绩的基金经理个人特性,进行回归分析;另外,本文从另一个角度对基金经理进行了分析:对基金经理的管理能力(包括证券选择能力和市场时机把握能力)进行了评价,从中分析影响基金经理管理基金能力的因素。本文在对基金经理的研究中,运用了定量与定性相结合的方法,充分借鉴国外较成熟的评价模型,对我国的开方式基金的基金经理的管理基金的能力进行了评价。通过对基金经理个人特性的实证研究得出结论:年轻的基金经理、有丰富“实战”投资经验的基金经理管理基金的业绩较好,在同一家基金管理公司做基金经理越长时间的基金经理有较强管理基金的能力;基金经理的证券从业时间,管理基金的基金经理人数均对基金业绩没有显著的影响。对基金经理管理基金的能力的研究得到如下结论:我国开放式基金的基金经理多数具有证券选择能力,几乎不具有市场时机把握能力。本文还对分析过程中所采用的方法以及由此所得出的结论作了简要评析,并对影响基金经理管理基金能力发挥的因素做了简单的分析,提出了相关建议,对我国投资基金管理公司选择优秀的经营者有参考作用。更多还原

【Abstract】 Investment funds development abroad own to have a history of more than 100 years, help investment , expert manage , disperse risk and unique advantage of large-scale production with it, have nowadays become the fashionable new developing investment way in the world, has played a very important role on the world financial market. The development of the investment funds of our country is only history of more than ten years, it is as the investment tool of a kind of masses, already been favored by investor, at the same time in order to develop and stabilize the security market, plays a incomparable role. This text to both at home and abroad about influence security investment fund performance factor study foundation of survey, manager’s impact on achievement of the fund of the key research foundation. The article is from analysing the state of the manager’s market of fund of our country, personal characteristic are started with, have found out the manager’s personal characteristic of fund of influencing the achievement of funds on this basis, analyse; In addition, this text has been analysed to the fund manager in another perspective: Appraise to managerial ability (including securities choose ability and market opportunity to grasp ability ) , fund of manager, analyse from it that influences a fund manager to manage the factor of the ability of funds.This text has used the method that the ration combines together with determining the nature in the study on fund manager, draw lessons from ripe appraisal model abroad fully, to to turn on fund management ability of fund of manager , way of fund appraise our country. We Can work out the conclusion through the real example to manager’s personal characteristic of the fund: Young fund manager , is it enrich " actual combat " fund manager , investment of experience manage achievement of fund better usually to have, make fund manager fund manager for a long time have better ability to manage fund in same fund management company; The fund manager’s time of obtaining employment of securities, the manager’s number of fund of managing fund does not have remarkable influence on the achievement of the fund .Get the following conclusion to the research which the fund manager manages the ability of the fund: Most of managers of fund of the open-ended fund of our country have securities to choose ability , hardly there is a market opportunity that holds ability .This text, also to analysing the method to adopt in the course and conclusion drawn by this have done brief evaluation and analysis, and to influence fund manager manage fund factor that ability give play to make simple analysis, propose relevant suggestions, choose the outstanding operator to have function of consulting to the management company of investment funds of our country.更多还原