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本文使用2010年到2016年银河三年评级和相应的基金特征数据,探究了基金评级和基金资金流动关系与基金评级与基金未来回报关系这两个问题。分析结果显示,基金评级与基金资本流动之间存在显著的正相关关系,即投资者倾向于选择高评级的基金公司进行投资;基金评级与基金未来回报没有显著的关系,即高评级的基金公司不一定具有高的未来回报,当投资者根据基金评级进行投资时并不总是获利。
This article uses the 2010 Galaxy Galaxy three years rating and the corresponding fund characteristics of data to explore the relationship between fund rating and fund liquidity and the relationship between the fund rating and the future return of these two issues. The analysis shows that there is a significant positive correlation between fund ratings and fund capital flows, that is, investors tend to choose high-rated fund companies to invest. There is no significant relationship between fund ratings and fund future returns, ie high-rated fund companies Not necessarily with high future returns, investors do not always make money when investing in fund ratings.