股票型基金投資策略之研究

Invetment Strategies of Equity Funds

鍾鴻文(Hung-Wen Chung)

指導教授 ： 王朝仕

國立臺中科技大學/商學院/企業管理系事業經營碩士班/碩士(2014年)

https://doi.org/10.6826/NUTC.2014.00012

摘要

共同基金，又稱為信託基金，是由基金經理的專業金融從業者管理，向社會投資者公開募集資金以投資於證券市場的營利性的公司型證券投資基金。在投資領域中，超越標竿指數績效，甚至追求絕對報酬，一直是眾投資者的目標，因此選股及擇時致關重要。隨著時代的演變，投資環境及投資方法都有些許的改變，藉由不斷地修正過去的投資策略才能使投資績效越來越好。
本研究試圖將過去學者所提出之投資策略加以修正提出新的投資策略，提供投資人做出更好的投資決策。因此將倪衍森、李仁在及李方瑋在2010年的研究中提到4433法則與54321法則加以延伸，加入三個新變數做為挑選基金之指標，分別為投資比率、報酬率變動率及基金公司收取之費用(包含經理費、保管費及銷售費用)。研究結果顯示，加入變數後確實能使投資績效變得更好。

關鍵字

共同基金、投資策略、投資比率、報酬率變動率

並列摘要

Mutual funds are also called trust funds. These funds raise capital in public market and operated by professional fund managers. Chasing the index performance and even the absolute return are always the goal of all investors. Therefore, how to choose the stock and when to make the decision are quite important factors. Along with the change in times, the investment environment and investment strategies have been some slight difference, we can make investment performance better and better by adjusting the past investment strategies.
The research purpose is to providing a new investment strategy for investors to make better decision by adjust the investment strategies proposed by former scholars. We add three new variables in the rules of 4433 and 54321,that were mentioned in the study of Yen-Sen Ni, Ren-Tzai Lee and Fang-Wei Lee in 2010. The three new variables are investment ratio、change rate on returns and the charge from fund company(include Management Fee、CustodianFee and Front-End Load). The research results indicate that it can make investment performance better by adding new variables in investment strategies.

並列關鍵字

Mutual funds、Invetment Strategies、Investment Ratio、ChangeRate on Returns

參考文獻

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