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Investment Strategies of Fund Time-picking ability and stock-selecting ability

초록/요약

In the stock market, investment funds have become an important market force, therefore, the studies of fund investment strategy has also become important. Among these strategies, stock-selecting and time-picking ability is one of the most popular methods to measure fund managers’ ability of selecting a good fund to make profit. Many studies have conducted to find the rules of fund choosing. This paper focused on the T-M model to test the 17 Chinese open-ended funds from 2004 to 2007, and finally runs the regression to establish the conclusion. The results of this data will determine weather or not these funds have stock-selecting ability and time-picking ability.

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