類全委投資型保單績效之影響因素分析

An Analysis of the Influential Facts of Discretionary Investment-oriented PolicyPerformance

陳鴻文(Hung-Wen Chen) ； 林英星(Ying-Shing Lin)

《華人經濟研究》 15卷2期 (2017/09) Pp. 35-46

摘要

近年來類全委保單投資帳戶因為具有配息的特性，在低利率環境下，深受投資人青睞。許多人壽公司紛紛設立類全委投資帳戶來迎合台灣投資人。本研究的目的是在找出影響類全委投資帳戶的變數，利用迴歸模型來分析類全委帳戶報酬歟主要變數之相關性。得到結論是績效和代操機構擇自家基金的支數成正相關，因境外基金可選擇性多，且對自家基金熟悉，加上可免收自家申購手續費，所以選擇越多，績效越好，另費用方面，因早期境內投信發行的手續費較低，但因為後續高手續費以境外投信為主，因為境外投信擁有全球化資源，反而費用高，績效較好，其他像規模，選擇被動型基金ETF的比例，並未明顯顯示和績效的關係。

關鍵字

類全委投資型保單 ； 基金績效 ； 基金費用

並列摘要

In recent years, the policy investment policy of the whole committee has been favored by investors because of the characteristics of interest rate in low interest rate environment. Many life companies have set updiscretionary investment-oriented policy to meet the Taiwan investors. The purpose of this study is to find out the impact of the whole type of investment accounts, the use of regression model to analyze the relationship between the main variables of the Commission. The conclusion is that the performance and generation of institutions to choose their own funds.Because the foreign fund can be more selective, and familiar with their own funds, plus free to buy their own purchase fees, so the more choice, the better performance, the other costs, because the early However, since the follow-up fees are mainly due to overseas investment, because the overseas investment has a global resource, resulting in different from the previous high cost, poor performance argument, but the high cost, better performance, The other like the size, select the passive fund ETF ratio, did not show the relationship between performance and performance.

並列關鍵字

DiscretionaryInvestment-orientedPolicy ； FundPerformance ； Fund Costs