Research of performance clustering effects of open-end mutual funds in China

摘要

The research of clustering effect of open-end fund in China has important practical significance. In the past, a simple classification and exaggerated names of the open-end fund would mislead the choice of the investors. In this paper, The clustering effect of open-end fund is a kind of classification about the integrated performance of the fund. To study the clustering effect of open-end fund, we have selected the cumulative net value for 5 indicators to describe the consolidated operating capacity of the funds during the period from January 1, 2008 to December 31, 2010 of 100 stocks open-end, by using cluster analysis, we obtain a picture about the funds clustering effect result. Through the picture, we will make a conclusion whether the consolidated operating capacity of the different kinds of funds is good or not during the period of 2008 to 2010 when the stock market in China is declining, thus we can give a better choice for investors to choose funds.