An Evaluation of the Morningstar System of Managed Fund Ratings in Australia and New Zealand

澳大利亚和新西兰管理基金评级晨星系统的评估

• 批准号: ARC : LP0219466
• 负责人: Prof David Allen
• 金额: $ 10.8万
• 依托单位: RMIT University
• 依托单位国家: 澳大利亚
• 项目类别: Linkage Projects
• 财政年份: 2002
• 资助国家: 澳大利亚
• 起止时间: 2002-01-01 至 2005-12-31
• 项目状态: 已结题
• 来源: https://researchdata.edu.au/an-evaluation-morningstar-new-zealand/69089
• 关键词: Evaluation; Morningstar; System; Managed; Fund

An Evaluation of the Morningstar System of Managed Fund Ratings in Australia and New Zealand. This project evaluates the Morningstar system of rating managed funds. Fund ratings considerably influence who manages A$590 billion (June 2000 - AXISS Australia) in investment funds and are thus important to the efficient operation of the Australian capital market. Key project elements are: (1) thorough investigation of the domestic Morningstar ratings methodology, identifying its strengths and weaknesses; (2) comparison of the US and Australasian methodologies; (3) analysis of the predictive ability of ratings; (4) an investigation into the feasibility of rating funds on stock selection and market timing; and (5) an investigation of the impact of Morningstar ratings on fund flows.

对澳大利亚和新西兰晨星管理基金评级体系的评价。本研究旨在评估晨星管理基金的评级系统。基金评级对谁管理5 900亿澳元（2000年6月- AXISS Australia）的投资基金有很大影响，因此对澳大利亚资本市场的有效运作很重要。项目的主要内容是：（1）深入研究本地晨星评级方法，找出其优点及缺点;（2）比较美国及澳洲的评级方法;（3）分析评级的预测能力;（4）研究评级基金在选股及择时方面的可行性;及（5）研究晨星评级对资金流动的影响。