The first step is to examine the historical performance of the fund manager, because the historical performance is abnormal, and the ability of the fund manager can be clarified. The key to the historical performance of a fund manager is to consider his long-term, medium-term and short-term performance environment. As an excellent fund manager, his outstanding performance must be stable and sustainable, so as to stand the test of long, medium and short term.
For all fund managers in the market, according to their career management and representative funds, first choose them to plan their long-term, medium-term and short-term performance. This historical performance indicator also adopts the most commonly used indicators in academia and industry, such as Sharp and retracement. These are some commonly used indicators. There is also a multi-factor model to strategy his alpha and beta, which depends on stock index funds to comprehensively evaluate his historical performance.
The second step is to evaluate and screen according to the investment style of fund managers. The discretionary style is mainly based on the early environment, and the representative funds of fund managers are selected for performance evaluation. Divide the market into growth and cost, and then divide it into multiple latitudes under the two latitudes of growth and cost, and then divide it into unsuitable market styles. We will use statistics and regression to return the performance and market style of the fund manager and examine his style.
From the perspective of asset setting and equipment setting, how to do this asset setting and equipment setting still depends on what kind of results we want to bring to investors. On the whole, if we look at the scope of the investment target, there may be worldwide equipment settings, evaluation settings and equipment settings, industry settings and equipment settings. If it is time latitude, there are strategic settings, equipment settings and equipment settings, which will last for a long time, and there are tactical equipment settings and equipment settings, which will be adjusted in the short term.
From the perspective of investment managers and investors, it can be divided into CPPI strategies, including buying and holding. At the same time, there are high requirements for fund managers and investors. It is necessary for us to grasp our macro-economy and industry and rotate among incompatible assets.
At the level of fund selection, there are many foreign countries, including some ETFs. The whole ETF is an index fund to set up assets and equipment, and there is such a combination. There are also funds with full governance, active governance and index funds.