隨著金融資訊的發達,投信投顧如雨後春筍般的崛起,投資人有各種投資的管道,當然越來越多人倚賴共同基金投資,共同基金是由一群專業的投資團隊協助操作,交給基金經理人去研究並且選擇標的做投資,國內股票型基金就將近多達300多檔共同基金,因此國內外的評鑑機構去做審核,選出績效報酬穩健、風險控制得宜的得獎基金,本研究針對得獎基金作分析,每年選出的得獎基金是否具參考價值,過去的績效不代表未來的表現,投資人是否該選擇評鑑機構選出的得獎基金?本研究分析該基金績效排名持續性的表現,採用每年度的淨值報酬率做為基金績效排名,分析前後年基金績效排名的持續性;再以「Spearman’s等級相關係數」檢定法加以驗證並分析連續5年(2011-2015)基金績效都排名在前1/4者。 本研究目的歸納以下幾點 一.得獎基金是否會贏過大盤績效表現 二.基金得獎後之績效持續性是否存在 三.得獎基金本身的規模大小是否會影響基金績效的因素
With the development of financial information.Mutual fund has become a fast growing industry.Fund managers provide their expertise in terms of market timing and stock selection for investors. Investors more rely on the mutual fund. Equity Fund has over 300 mutual fund. General investors usually select mutual funds based on their past performance; as a resultmeasuring performance persistence of mutual funds has become an important issue. Investment trust companies in Taiwan often use the records of winning fund awards.The Spearman's rank correlation coefficient test was verified and analyzed for the performance rankes in front one third for continous five years (2011-2015) The result are as follows: 1. The Awarded Funds with Performance Superior to the Market. 2. A Study on the Performance Persistence of Awarded Funds. 3. A Study of size Influencing the Mutual Fund Performance.