Performance Analysis on the Chinese Open-end Stock Funds’ Investment Style Convergence
- 10.2991/hsmet-18.2018.142How to use a DOI?
- style convergence,fund performance,outlier strategy, personal ability.
This paper quantitatively studies the relationship between investment style convergence and fund performance of open-end stock funds from the empirical point of view, and finds that: the convergence of the actual fund style is serious; in the long run convergence tends to reduce the fund performance, but to a lesser extent; if the fund managers have higher personal ability, outlier will significantly improve fund performance, on the contrary the relationship between convergence and performance is unstable;outlier strategy is effective on the premise that the fund managers have high personal ability.
- © 2018, the Authors. Published by Atlantis Press.
- Open Access
- This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).
Cite this article
TY - CONF AU - Xin Zhao PY - 2018/06 DA - 2018/06 TI - Performance Analysis on the Chinese Open-end Stock Funds’ Investment Style Convergence BT - Proceedings of the 2018 3rd International Conference on Humanities Science, Management and Education Technology (HSMET 2018) PB - Atlantis Press SP - 717 EP - 722 SN - 2352-5398 UR - https://doi.org/10.2991/hsmet-18.2018.142 DO - 10.2991/hsmet-18.2018.142 ID - Zhao2018/06 ER -