基金评级

文章还同时分析并讨论如何通过发挥托管人、基金评级机构、基金销售人等外部机构的作用。

The article also analyzes and discusses how to simultaneously play a custodian , fund rating agencies , fund sales , etc. The role of external agencies .

在美国，基金评级已与债券评级、股票评级共同构成了资本市场信用评级的三大支柱。

In the United States , the fund rating with bond rating , the rating of common shares constitute a credit rating of the three pillars in the capital market .

其次利用随机森林建立基金评级模型；

Secondly we construct evaluation model based on random forest .

基金评级是信用评级的一个重要支柱，基金评级是客观公正地对基金业绩的评定，并以简单明了的符号形式向社会表达评级结果。

Fund-rating is an important part of credit rating . It evaluates the fund objectively and then publishes the results to the public briefly by symbols .

我国在基金评级方法和评级机制发展方面则非常滞后，基金评级业发展严重滞后问题已经影响到投资者对基金的投资，不利于基金的进一步发展。

The development of china fund rating method and mechanism falls behind the international rating industry , which affects the fund investment of investors and is unfavourable to funds ' developing .

由于受基金评级、业绩压力等束缚，鲜有能始终坚守其所宣称的既定风格投资方式的开放式基金，广大投资者应根据基金的实际风格而非名义风格配置资产。

Investors should base on the actual style rather than nominal style in their assets allocation for fund managers do not adhere to investment style which they stated in prospectus usually .

无论是对于金融市场发达的欧美还是金融市场刚刚起步的发展中国家来说，基金评级对于基金业都是非常重要的。

The fund rating is significant for the development of the fund sector in both the developed countries with mature financial markets and the developing counties like China where the market is just in the building .

在分析结果上与著名第三方评级机构晨星基金评级有较高一致性，无论是风格、策略与星级排名都相符合，一定程度上说明四因素模型对我国证券市场具有足够适用性。

The analysis results have higher consistency with the famous third-party morningstar fund rating , both in style , strategies , and star ratings , partly show that four factors model of securities market in our country has enough applicability .

美国晨星公司是目前世界上最具权威性和影响力的基金评级机构，其服务于投资者及注重定量分析的运作理念深受国际经济界推崇。

American Morning Star Company is the most authoritative and influential funds rating institution in the world at present . It is recommended by international business field for its good services to investors and its business operating method of paying attention to quantitative analysis .

倘若欧元区能够接受其纾困基金的评级为AA级，将移除在为受困国家融资方面的自我约束。

If the eurozone accepted a double A rating for its rescue fund , it would lift a self-imposed constraint on the funding it can raise for troubled states .

本文将主要研究如何将支持向量机方法应用于证券投资基金的评级。

This paper will study how to use the SVM applied to the Research of Investing Fund Evaluation .

众多的评级机构在为投资者提供评级信息的时候对同一只基金的评级可能并不相同，投资者选择哪种评级成为他们更关心的问题。

The ratings of exactly the same fund by distinctive fund-rating institutes may be different , thus investors concern that which one is more valuable .

不过，中国支持的举措大多是能够增强西方国家监管的措施，如对对冲基金和评级机构的监控。

However , China has mostly supported measures that would boost regulation in western countries , such as controls on hedge funds and ratings agencies .

本文从单因素指标、业绩的归属分析、业绩的持续性、投资风格及基金业绩评级等五个方面介绍、评析了证券投资基金业绩评价中的重要研究成果及目前的国内外研究动态。

By discussing five aspects of funds , such as single factor indicator , performance belonging analysis , performance continuity , investment style and funds rating , this article reviews some of the research results and current research activities in several important areas in the security investment fund performance evaluation .

这些做法的意义在于，多数央行和一些主权财富基金不能持有评级低于AA级的证券。多数只做长线的资产管理公司也有此类规定。

The significance of their actions lies in the fact that most central banks , and some sovereign wealth funds , cannot hold securities rated below double A. Most long-only asset managers have such restrictions too .

使用三业绩指数，对我国的基金进行业绩评级。

According to the three-achievement index , I grade some funds of our country .

在去年的一项研究中，国际货币基金组织称评级是评价一个主权国家是否存在违约风险的一个相当好的指标。

In a study last year , the International Monetary Fund concluded that ratings were a reasonably good indicator of sovereign-default risk .

从共同基金到信用评级机构在内的各类机构都由证交会监督，但近年来，它的预算却在减少或没有变化。

The agency oversees everything from mutual funds to credit rating agencies but has seen its budget decline or stay flat in recent years .

不错，国际货币基金组织和信贷评级机构一直密切注视本港的财政状况和我们管理公共财政的方法。

Yes , the IMF and international credit agencies are watching closely our fiscal position and how we manage public finances .

一些专家认为，这两只基金也在低评级的次级抵押上下注，通过逆向操作来对冲风险。

Some experts say the funds also made lower-rated subprime bets that were designed to hedge risk by moving in the opposite direction .

由于欧洲金融稳定基金本身的信用评级部分与法国相关，法国评级下降就可能会在让救援基金的评级在人们最需要它的时候受损。

Since the EFSF depends partly on France for its own credit rating , a French downgrade could undermine the rescue fund just when it is most needed .

最后本文得出了结论和并提出一些政策建议：加强对证券投资基金的监管；规范基金评级与排名；引导基金投资者转变投资理念。

Finally , the author draws conclusions and makes policy recommendations as to strengthen the supervision of securities investment funds , standardize fund rating and ranking and guide fund investors to shift their investment philosophy .

如建立客观、高效、合理的基金评价体系，建立独立的基金评级机构，提高证券市场成熟度等。

We should establish an objective , efficient and reasonable fund evaluation system and independent fund rating agencies .

认为多层次基金评估体系应该由三个层次构成：基金评级、基金分析和基金跟踪。

It shall be composed of three levels , i.e. , fund ranking , fund analysis and fund follow-up .

近几年我国开放式股票型基金飞速发展，对于基金投资风格的评估是基金评级中重要的一个环节。

Recently , the development of open-stock fund is very fast . Investment style assessment is an important aspect of the fund rating .

首先，分别从基金家族和基金个体层面分析了资金流与基金评级的关系，验证了明星基金的明星效应与溢出效应的存在性。

Firstly , We analyzes the relationship between the cash flow and fund rating from the fund family and fund individual level respectively , proving the existence of the star effect and spillover effect for star funds .

在基金的评价分析中，无论是普通基金投资者还是专业的基金评级机构，都是通过对基金过去的业绩进行分析比较，并以此为依据来预期基金的未来收益。

Both the investors and the professional fund rating agencies analyze funds performance on the basis of the former performance .

随着基金数量的增多，基金规模的壮大，投资者越来越依赖于第三方评级机构的基金评级。

With the development of funds , investors turn to depend on the third party rating agencies .

换言之，这只基金不是在简单地跟踪次级抵押市场：它做的更好，想必是因为该基金购买的是评级较高的证券。

In other words , the fund was not simply tracking the subprime markets : it was doing better , presumably because it was buying highly rated securities .

从我国开放式基金的运作特点及现实证券市场的制度环境看，现阶段我国推出的开放式基金应做以下三方面的制度创新：融资制度创新、金融衍生品创新和基金评级体系的创新。

Considering of the characteristic of open-up funds and the realistic condition of China security business , this paper talks about the risk for China to develop open-up funds , proposes that there should be three system innovations : financing innovation , financing tools innovation and fund evaluation innovation .