风格投资

我们对证券基金的指数化投资、资产配置、风格投资和动量投资了比较。

We compare index investing , asset allocation , style investing and momentum investing of funds between two countries and find some similarities and difference .

风格投资是指投资管理者将股票投资组合限制在与某一市场异常对应的子市场中的一种新生投资哲学与方法。

Style investing is a new philosophy and method of investment which is limited to the stock portfolio with one market anomaly that corresponds to the sub-market by the investment managers .

风格投资在中国越来越受到重视。

Style investment is becoming more and more important in China .

风格投资是组合投资理论研究中的一个重要分支。

Style investment is an important branch of portfolio investment .

但由于中国股市特殊的股权结构，近年来在国内规模效应研究和风格投资指标中应用了多种未统一的小市值组合界定方法。

Because of the stock structure in China , the definition of small firms in China is not clear .

随着风格投资大行其道，基金投资风格的概念在投资领域已被广大的基金市场参与者所接受。

With the popularity of style investment , investment style has been more and more widely accepted by the fund investors .

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 .

研究结果说明，以股票总市值排序后的最小20%家上市公司构建组合，具有最显著的规模效应特征，是最具有风格投资导向价值的划分标准。

The result shows that , in China , the portfolio including the smallest 20 % listed companies in term of total market value has the most notable characteristic of size effect .

介绍了生活风格投资战略的基本形式，通过模拟考察了生活风格投资战略在不同市场环境下的投资绩效，并分析了投资转换时间对投资绩效的影响。

Based on the former theoretic study the dissertation simulated 7 market scenarios to explore the performance of so called Life-style Strategy for occupational pension funds and it 's sensibility to switch moment .

在新兴加转轨的沪深股票市场，传统坐庄模式的失灵，以基金为主的机构投资者正在积极探索新的投资模式，风格投资在国内沪深股市是否适用以及如何应用将是本论文研究的重点。

This paper focuses on investigating whether style investment is applicable , if yes , how to apply , in the emergent and transforming Shanghai and Shenzhen Stock Market where traditional insider trading becomes ineffective and institutional investors with mutual funds are actively looking for new investment methods .

证券投资基金风格、投资行为与股票市场波动

Investment Styles of Fund Managers and Market Volatility

客观的基金评价能为投资者提供准确的投资信息参考，引导其正确识别基金的投资风格和投资价值；

Objective appraisal can provide valid investment reference to investors , guides them distinguish the fund 's investment style and investment value ;

尽管法律结构基本相同，但是私募股权基金依据投资风格和投资目标的不同可以分为许多不同的类型。

Although the legal structure might be the same more or less , there are many classifications within the equity fund due to the difference of investment style and the investment target .

但是，在实际投资过程中，开放式基金并不能完全按照其事先声称的风格进行投资，而是会随市场行情的变化不断转变其风格，基金投资风格漂移现象随之产生。

However , in the actual investment process , open mode fund and cannot complete according to its prior claim , but the style of investment with changing market changes its style , and fund investment style drift phenomena emerges .

在证券市场上，投资者的投资模式、投资风格、投资理念影响其投资方法，并在某种程度上决定其投资收益和投资回报，因此采取合理的、适合的证券投资模式是十分必要的。

On the securities market , the mode style and theory of investor investment influence the investment methods and determine the investment return to a certain extent . So adopting rational and suitable securities investment mode , style and theory is very essential .

结果表明，认知风格对于投资决策的结果的主效应达到了边缘显著。认知风格不同的被试的短视损失厌恶的表现存在一定的差异。实验结果基本上支持了以往有关短视损失厌恶的理论。

The results of the study indicated that cognitive style has the marginal significant effect on the risk preference in investment decision-making and subjects with different cognitive styles have different MLA performance . Basically , the experiments results correspond with previous Myopic Loss Aversion Theories .

但中国公司慢条斯理的风格和长期投资亚洲的偏好，会让美国各地失望。

But Chinese companies'go-slow approach and a longstanding preference for investing in Asia may leave governments disappointed .

当然，所有的投资都得考虑风险与收益，在本文的第三章，分别分析了基于投资风格与基于投资策略的证券投资基金的风险与收益。

Of course , we had better think of risk and benefit , so we analyze the risk and benefit of bond investing bund base on invest style and invest tactic in the third chapter .

投资者参与和证券投资基金风格业绩的评估投资基金风格分析体系之构建研究

Investor Participation and Its Meaning for the Fund Rating Construction on System of Portfolio-based Style Analysis

不同的投资管理人由于投资风格不同，对投资组合的资产配置也会不同。

Due to the different investment styles of portfolio , different investment managers make the asset allocation differently too .

从而透彻地了解基金的投资风格，确定其投资类型，便于投资者结合自己的收益与风险偏好进行合理的选择。

First , it is self-evident that the final goal of style analysis is to help the investors to make a rational investment decision .

它在接下来的十年却失去了自己的风格，当大投资的戏剧像“死亡树木”和“罗马”并没有获得好评时。

It lost its way around the middle of the last decade , when ambitious dramas like " Deadwood " and " Rome " failed to stick .

不管是绩优的基金还是绩差的基金，实证的投资风格和约定的投资风格均不存在始终一致的关系。

Whatever the blue-chip fund or funds of low performances , there is the evidence to agree that the investment style and the agreed investment style are not always the same . 5 .

基金投资风格源于其投资理念和投资策略，一方面引导着基金在证券市场上进行操作，另一方面也影响基金的经营业绩和市场交易价格。

It origins from the investor 's investing idea and strategy . Since it leads to the funds operation on the securities market and also affects the managing results and dealing price of the funds , it affects the securities market itself .

最后得出以下结论：一、我国股票型基金存在大规模的风格漂移现象，基金经理因业绩压力存在改变风格投资策略的动机。

The conclusions are as follows : Firstly , there is a large-scale style drift in Chinese stock funds ; Fund managers have the motivation to change the style investment strategy because of performance pressure .

本文的研究给投资风格理论的推广提供了一系列的实证支持，但是仅仅有理论上的支持还不足以全面推广风格投资。

However , with only the support on the theory it is not enough to spread investment style all-roundly .