Research on Public Fund Performance and Rating

DOI

10.2991/978-94-6463-770-0_65How to use a DOI?

Keywords

Fund Performance; Fund Rating; Stock-Picking Ability; Market-Timing Ability

Abstract

With the continuous growth in the scale of public fund management and the number of products, fund selection and evaluation have become key components of investment decision-making. Individual investors typically rely on intuitive indicators such as performance and star ratings, while institutional investors place greater emphasis on a comprehensive analysis of fund performance and fund manager capabilities. Back testing results show that high-rated funds still perform well in the short term, confirming the reference value of ratings. Currently, institutional evaluations of fund managers mainly focus on their stock-picking ability, market-timing ability, and risk management skills, with stock-picking ability being particularly crucial. Through a systematic literature review and analysis, this study summarizes relevant evaluation models and empirical findings, revealing that stock-picking and market-timing abilities are generally negatively correlated, and that excellence in both is essential for achieving superior performance. On this basis, the paper proposes integrating subjective analysis strategies with quantitative approaches to synergistically enhance fund managers’ stock-picking and market-timing capabilities, thereby offering a feasible path for the development of actively managed funds.

Copyright

© 2025 The Author(s)

Open Access

Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Download article (PDF)

TY  - CONF
AU  - Yaling Liu
PY  - 2025
DA  - 2025/06/26
TI  - Research on Public Fund Performance and Rating
BT  - Proceedings of the 2025 3rd International Conference on Digital Economy and Management Science (CDEMS 2025)
PB  - Atlantis Press
SP  - 578
EP  - 584
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-770-0_65
DO  - 10.2991/978-94-6463-770-0_65
ID  - Liu2025
ER  -