【作者】 胡畏；

【Author】 HU Wei (School of Management,Fudan University,Shanghai 200433,China)

【机构】 复旦大学管理学院；

【摘要】 准确地度量投资基金的积极管理程度,是研究基金的积极管理能否取得超常业绩的基础。本文利用国内基金的实际持股数据,探讨了反映积极管理的不同指标的性质和差异,并明确其中一些指标的计算基础。通过与两个简单的业绩评价指标的相关性检验,发现用不同的积极管理指标和不同的业绩评价指标可能会得出不同的结果。更多还原

【Abstract】 Measuring the activeness of management properly provides a foundation for studying on whether the actively managed funds can achieve high performance.Based on the shareholding data of Chinese security funds,we discuss the characteristics and differences of various activeness measures,and make it more clearly on how to calculate some of the measures.From the correlation test with two simple performance indexes,we find that using different measures of activeness and different performance indexes may have different results.更多还原