1. Since the fund is a long-term investment, investors need not pay too much attention to short-term gains and losses. From the analysis of relevant data, the performance of funds in different statistical cycles is completely different. This is because the uncertainty of the securities market determines the difficulty of long-term stability of fund performance. If we simply use the data of 1 year, 6 months or even 1 month to explain the performance of a fund, it is easy to fall into the misunderstanding of investment funds.
The explosive growth of China's fund industry was in the bull market in the past two years. In 2006 and 2007, the average returns of domestic funds (excluding monetary funds) reached 65,438+009.49% and 65,438+020.39% respectively. The performance of doubling for two consecutive years has greatly improved investors' expected return on investment funds, which is actually a special return generated during the special development period of China's capital market. This high return is rare and unsustainable.
2. As far as a single fund is concerned, we find that simply looking at the short-term performance ranking is still limited. For example, if investors bought Dacheng Value Growth Fund in 2006 -2007, its accumulated net value increased by 235.46% in two years, which is obviously different from the figure of 539. 10% with the highest net value in these two years. However, if investors lengthen the statistical cycle, they will find that from the establishment of 1 1 in 2002 to the end of 2007, after three years of bear market baptism, Dacheng value growth still achieved a cumulative increase of 486.28% in five years.