基于投资风格对我国股票型开放式基金的绩效分析

摘要

Selecting the equity open-end funds of 12 quarters from 2009 to 2012, using the empirical methods, the paper evaluates the actual investment style of sample funds, and verifies the influence of different actual investment styles and the style drift on the fund performance. The study finds that there occurs the investment style drift for most of the funds, but the influence of the different in-vestment styles on the funds is not so significant.%本文选取2009-2012年12个季度的股票型开放式基金，运用实证研究方法评估样本基金的实际投资风格，根据实际投资风格验证不同投资风格及风格漂移对基金绩效的影响。研究发现，大多数基金都会发生投资风格的漂移，但不同的投资风格对基金的影响并不显著。