| Summary: | 碩士 === 臺灣大學 === 財務金融組 === 98 === This dissectation is focusing on the investment research of mutual funds in different installments and types. The main benchmark for the judgment is based on the TW Index and Indicator of TW economy. The purpose of the Report is that the mutual funds has been one of the main investment implements in the recent years.No matter in the investment amounts, number of investors or age groups, it has broadened increasingly.
The Economy Indicator is a forecast of stock markets. It is also a signal of an economy. Usually investors will stop their investments activities when the index of the Economy Indicator is at its low scope while investors will expand the activities when it is at the other extreme. This analysis is based on the trend of TW Index in the past and the size of onshore mutual funds, referring to the past ten years average of TW Index and Economy Indicator to decide the timing and the amount for investment by TW equity mutual fund, and also if redemption or not, in order to compare the return by IRR. It could be found when the investors put their cash in the mutual fund at the time ,the index and the indicator are above the average, the return would be bad than the other hand. And we also find if investors redeem their funds when the index and the indicator are above the average, the investment return would be specially better. Consequently, investors should care more about the long-term trend of economy variety for investment, given to the mutual fund is more diversified than stock.
Finally, this report offers a simple and definate application software based on the average weight of TW Index and Economy Indicator to assist investors for deciding the timing and the amount for investment. Meanwhile, according to the trend of investing offshore mutual funds by domestic investors, this report also apply the research result to offshore funds, it shows the same well performance as TW Equity funds. I appreciate this research result can provide a long –term and consistent methodology for the loyal mutual fund investors to gain the more wealth.
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