| 摘要: | 隨著國內金融環境愈來愈國際化及政策開放快速，對於國內金融巿場的參與者—銀行業、證券業、保險業及投信投顧業的從業人員，應該需要了解更多金融知識，以協助客戶了解風險所在並分散投資，才不致與期望報酬相違背。而投信與銀行財富管理的結合，如何藉由基金的長期績效操作優異，銷售機構的促銷推廣，到投資人得到期望報酬，創造投信、銷售機構及客戶三贏的局面，成為實證研究上的課題。 本研究以Ｊ投信為例，篩選旗下成立滿五年且未被合併的四檔基金為實證樣本，採用加權股價指數、基金淨值、每月申購量及促銷活動期四項變數，以探討其對基金規模的變化，以複迴歸及時間序列分析，獲致以下實證結果： 一、 基金績效顯著影響基金規模 二、 基金績效顯著影響促銷活動量 三、 基金績效顯著影響每月申購量 四、 加權股價指數對於基金規模影響不顯著 關鍵詞：基金規模、基金績效、銷售機構、滿意度 With a more international financial environment in domestic market and government’s open attitude toward policy making, financial market participants, such as employees in banking, brokerage, insurance, and asset management industry, should continue to improve their profession of financial knowledge. As a result, clients can be professionally advised to have a better understanding of risk and then to construct more diversified portfolios. With risk awareness, as a result, the rate of return could better conform to their expectations so that they could be well protected from dramatically changing market. The way to creating win-win situation among investors, asset management company, and fund distributors has become a important subject for study. This study is mainly based on the example of “J” Asset Management Corp. Four mutual funds under “J”’ Asset Management Corp are extracted for study. Additionally, four variables are taken into consideration: Weighted Average Index, net asset value of funds, units of fund sold, and promotional activities. Two statistical methods are used to understand the changing size of the funds: Regression and Time Series Analysis. The statistical outcomes are described as following: 1. Fund performance and fund size are significantly correlated. 2. Fund performance is significantly correlated with promotional activities. 3. Fund performance is significantly correlated with units of fund sold. 4. Weighted average index is not significantly correlated with fund size. Key words: Fund size,Fund performance, Distributor, and Level of satisfaction. |
