开放式基金的收益和风险以及择时选股能力作为基金绩效评价的重要内容,一直以来都是国内外学者关注的一个话题,对其择时选股能力的研究不仅关系到基金管理公司等相关主体的决策行为,也关系到投资者自身的切身利益。本文在收集近两年数据的基础上,结合国外成熟的基金评价模型,对我国开放式股票型基金进行了实证研究,得出我国基金经理缺乏选股能力,择时能力一般的结论。 As the important content of fund performance appraisal, the returns and risks of open-end funds and the ability of timing stock selection have always been a topic of concern to scholars at home and abroad. The research on their ability to choose stocks at different times not only has something to do with fund management companies, The main decision-making behavior, but also related to the vital interests of investors themselves. Based on the data collected in the past two years and based on the mature foreign fund evaluation model, this paper conducts empirical research on China’s open-ended equity funds and concludes that our country’s fund managers lack the ability of stock selection and general selection.