碩士 / 淡江大學 / 管理科學學系企業經營碩士在職專班 / 101 / Mutual fund investment is one of the most common financial instruments for investors; however, there are various mutual fund categories accompanied with expected returns and risks sold in the markets. Therefore, investors should assesse with care in order to make profits even avoid losses while investing mutual funds. Nowadays, the financial institutions face the bottleneck resulting from the overbanking, which lowers down the spread between the deposits and loans. Thus, the sales of mutual funds are more and more paid attention by these institutions. However, whether the funds suggested by these institutions would be beneficial for asset allocations seem not to reach the consistent conclusion. Therefore, investors had better endeavor to find the funds with the higher rewards and lower risks according to investors’ preference.
In this study, we selects the high-yield bond funds as our samples, The results reveal that investors had better select bond funds as short-term investments instead of long-term investments. In addition, the funds with higher standard deviation might not perform well resulting from unsystematic risks occurred in these bond funds. However, the bond funds with higher betas have the better performance, since these funds with the higher systematic risks might enhance the expected returns of these fund funds. Furthermore, investors might take the funds with higher Morningstar rating and the time lasted in the markets into accounts, since these funds exhibit the superior performance. Thus, market participants might take the evidences revealed in this study into accounts while investing high-yield bond funds.
| Identifer | oai:union.ndltd.org:TW/101TKU05457057 |
| Date | January 2013 |
| Creators | Ying-Che Fang, 方英哲 |
| Contributors | 倪衍森 |
| Source Sets | National Digital Library of Theses and Dissertations in Taiwan |
| Language | zh-TW |
| Detected Language | English |
| Type | 學位論文 ; thesis |
| Format | 51 |
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