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文章以2009年至2014年第三季度我国偏股型开放式证券投资基金的数据分析了基金规模对于基金绩效的影响。实证分析的结果显示,基金规模越高,则基金的绩效会随着规模的扩大而出现一个规模不经济的最低点,而后在出现一个随着规模扩大而实现规模经济的阶段。文章又从风险和超额盈利角度对基金绩效进行分析。同时并在此基础上提出政策建议。
Based on the data of China’s partial stock open-ended securities investment funds from the third quarter of 2009 to the third quarter of 2014, the article analyzes the influence of the fund size on the fund performance. The result of empirical analysis shows that the higher the fund size, the more the fund’s performance will appear as a diseconomy lows with the expansion of the scale, and the second is the emergence of a scale economy as the scale expands. The article also analyzes the performance of the fund from the perspective of risk and excess profits. At the same time and based on the proposed policy recommendations.