本文關(guān)鍵詞： 陽光私募基金 業(yè)績 評價體系　出處：《上海交通大學》2013年碩士論文　論文類型：學位論文

【摘要】：我國金融市場從改革開放以來，三十余年間迎來了快速發(fā)展。陽光私募基金作為我國資本市場一股重要的力量，也伴隨著我國經(jīng)濟的飛速發(fā)展迎來了自己的急速擴張，，特別是從2007年初的大牛市以來，陽光私募基金不斷壯大。最近幾年，陽光私募基金在我國的高速發(fā)展的同時，其投資業(yè)績回報也獲得了廣大投資者的認可，其不但增加了了投資者在市場上可以投資的方式,強大的生命力也顯示了我國金融市場生生不息的活力。 隨著陽光私募基金品種數(shù)量的增加，其業(yè)績的表現(xiàn)也就成為投資者關(guān)心的問題，如何來評價基金的業(yè)績以及評價體系的建立也變得越發(fā)的重要。在此基礎(chǔ)上，本文希望可以在國內(nèi)外金融理論研究的基礎(chǔ)上，構(gòu)建出我國陽光私募基金業(yè)的研究評價體系，本文從實例出發(fā)，截取國內(nèi)陽光私募基金產(chǎn)品一年期至四年期數(shù)據(jù)，著重使用夏普比率、收益率及下行風險的組合來評價具有穩(wěn)定性及收益性相結(jié)合的陽光私募基金產(chǎn)品。同時使用T-M，H-M，C-L模型來對所挑選出的基金進行相關(guān)驗證，著重評價陽光私募基金經(jīng)理的選股能力指數(shù)與擇時能力指數(shù)。本文數(shù)據(jù)經(jīng)過詳細的搜集與處理，均在評價體系內(nèi)部進行了檢驗，體現(xiàn)了研究思路的完備性與前后研究思路的一致性，在這樣的研究基礎(chǔ)上，進行的業(yè)績評價的適用會更具連貫性與全面性。
[Abstract]:Since the reform and opening up to the outside world, the financial market of our country has experienced rapid development in more than 30 years. As an important force in the capital market of our country, the sunshine private equity fund has ushered in its own rapid expansion along with the rapid development of our country's economy. Especially since the great bull market in early 2007, sunshine private equity funds have been growing steadily. In recent years, while sunshine private equity funds have developed rapidly in our country, their return on investment performance has also been recognized by the majority of investors. It not only increases the way investors can invest in the market, but also shows the vitality of our financial market. With the increase in the number of private equity funds, the performance of their performance has become an issue of concern to investors. How to evaluate the performance of the fund and the establishment of the evaluation system has become more and more important. On this basis, Based on the financial theory research at home and abroad, this paper hopes to construct the research and evaluation system of sunshine private equity fund industry in China. Based on the examples, this paper intercepts the data of domestic sunshine private equity fund products from one year to four years. Emphasis is placed on the combination of Sharp ratio, yield and downside risk to evaluate Sunshine Private Fund products with a combination of stability and profitability. T-MN H-MU C-L model is also used to test the selected funds. Focus on the evaluation of sunshine private equity fund managers' ability index and timing ability index. After detailed collection and processing, the data of this paper are tested in the evaluation system. It reflects the completeness of the research ideas and the consistency of the research ideas before and after, on the basis of such research, the performance evaluation will be more consistent and comprehensive.
【學位授予單位】：上海交通大學
【學位級別】：碩士
【學位授予年份】：2013
【分類號】：F832.51;F224

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本文編號：1507116