| Abstrakt: |
Several earlier studies showed that there is a trend to concentration in the funds investment styles, and the categories of actual investment styles deviate from the asserted categories greatly. Based on all of the investment funds from 2006 to 2008 in China, the changes of the categories of those funds and their styles are investigated empirically. It is revealed that the categories of fund styles change annually and, meanwhile, they come up to convergence to a great extent. Viewed in a short time, the overall rate of change of the categories of funds is high, but it becomes low as viewed in a long time. Therefore, as far as the theoretical researchers and policy makers are concerned, the effects of funds should be investigated the way the long-time effect must be differentiated from short-time one with the actual category of any fund concerned, thus drawing a correct and consistant conclusion. [ABSTRACT FROM AUTHOR] |
