Abstract
Stock fund is an important species in China’s mutual fund market. This paper takes stock fund investors as research object, through sample survey, works out the main influential factors of stock fund performance by principal component analysis (PCA). The result shows that International macro-environmental, stock fund management efficiency and investment strategies, policies and regulations regulatory, monetary policy, investors characteristics, scale cost are six major factors for the performance of investors’ stock fund. In the end, we propose some suggestions to improve the performance. DOI: 10.5901/ajis.2013.v2n11p81
Highlights
Stock fund is one of the most important mutual funds in China, holding a leading role in China’s mutual fund market as well as the capital market
To study the influential factors for stock fund performance is important in the following ways[5][6]: Firstly, for medium and small investors with a limited possession of professional knowledge and ability to get and analyze information, it would provide a full-range of the performance, so they can make choices according to their different needs for riskrevenue liquidity and market characteristics in order to avoid the loss caused by blind follow
Our study adopted face-to-face interview and Questionnaire Star online survey as two main methods. In the former one, we interviewed over twenty fund investors to get brief grasp of their ability to undertake risks, their knowledge about stock funds and the proportion of funds in domestic equity, the profitability of stock funds and their investment strategy
Summary
Stock fund is one of the most important mutual funds in China, holding a leading role in China’s mutual fund market as well as the capital market. Investors’ stock fund performance refers to the real revenue investors get from stock fund[2] It can be affected by macroenvironment, the ability of fund management companies and investors’ own choices. To study the influential factors for stock fund performance is important in the following ways[5][6]: Firstly, for medium and small investors with a limited possession of professional knowledge and ability to get and analyze information, it would provide a full-range of the performance, so they can make choices according to their different needs for riskrevenue liquidity and market characteristics in order to avoid the loss caused by blind follow. From capital market regulators’ prospective, through assessing the performance of different type and style of stock fund, they can have a better knowledge of the fund’s features and improve their efficiency when examine and approve new funds, so as to secure a balanced development of fund market
Sign-in/Register to view highlights & summary Sign-in/Register to access full text options 
Free) 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a call
