A Study of Strategies on Investments of Idle Funds of locking in profits from the Dollar-Cost Averaging of Mutual Funds
碩士 === 萬能科技大學 === 資訊管理研究所在職專班 === 102 === Locking in profits from mutual funds is a commonly adopted investment strategy; however, what really concerns the general investors is how to reallocate these idle funds to generate more returns. This research has employed the dollar-cost averaging approach...
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ndltd-TW-102VNU013960172016-05-22T04:34:16Z http://ndltd.ncl.edu.tw/handle/15056960686382890676 A Study of Strategies on Investments of Idle Funds of locking in profits from the Dollar-Cost Averaging of Mutual Funds 國內共同基金定期定額投資人停利後閒置資金處置策略與投資績效 Wan-Ju HSU 徐琬茹 碩士 萬能科技大學 資訊管理研究所在職專班 102 Locking in profits from mutual funds is a commonly adopted investment strategy; however, what really concerns the general investors is how to reallocate these idle funds to generate more returns. This research has employed the dollar-cost averaging approach on a monthly basis to study the performance of onshore and offshore mutual funds from December 1997 to January 2014. It not only discussed when to lock in profits, but also calculated the annualized returns when a investor place the idle funds to time deposits or invest in the same target for another 6, 12, 18, 24, 30, or 36 months. To determine the best investment strategy for dollar-cost averaging in mutual funds, the study utilized two-way repeated measure ANOVA to compare the different main effects of what percentage gain to lock in profits as well as how to maximize returns of the idle funds, and to identify whether there is interaction between the two factors. The results have shown that: (1) within the research period, it is advisable to lock in profits at 40% of capital gain; (2) regardless of the capital gain when locking in profits, reinvest the idle funds in the same target for 24 months will achieve the optimal returns; (3) the interaction between when to lock in profits and how to reallocate the idle funds was not significant, and the best investment strategy identified in this research is to lock in profits at a 40% gain and place the funds in the same target for 24 months; (4) reinvest the idle funds using dollar-cost averaging approach after locking in profits can avoid harming the investment performance caused by frequent transactions as indicated in previous studies. Jin-Yinn Wang Yu-Jan Shen 王金印 沈育展 2014 學位論文 ; thesis 92 zh-TW |
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碩士 === 萬能科技大學 === 資訊管理研究所在職專班 === 102 === Locking in profits from mutual funds is a commonly adopted investment strategy; however, what really concerns the general investors is how to reallocate these idle funds to generate more returns. This research has employed the dollar-cost averaging approach on a monthly basis to study the performance of onshore and offshore mutual funds from December 1997 to January 2014. It not only discussed when to lock in profits, but also calculated the annualized returns when a investor place the idle funds to time deposits or invest in the same target for another 6, 12, 18, 24, 30, or 36 months. To determine the best investment strategy for dollar-cost averaging in mutual funds, the study utilized two-way repeated measure ANOVA to compare the different main effects of what percentage gain to lock in profits as well as how to maximize returns of the idle funds, and to identify whether there is interaction between the two factors.
The results have shown that: (1) within the research period, it is advisable to lock in profits at 40% of capital gain; (2) regardless of the capital gain when locking in profits, reinvest the idle funds in the same target for 24 months will achieve the optimal returns; (3) the interaction between when to lock in profits and how to reallocate the idle funds was not significant, and the best investment strategy identified in this research is to lock in profits at a 40% gain and place the funds in the same target for 24 months; (4) reinvest the idle funds using dollar-cost averaging approach after locking in profits can avoid harming the investment performance caused by frequent transactions as indicated in previous studies.
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author2 |
Jin-Yinn Wang |
author_facet |
Jin-Yinn Wang Wan-Ju HSU 徐琬茹 |
author |
Wan-Ju HSU 徐琬茹 |
spellingShingle |
Wan-Ju HSU 徐琬茹 A Study of Strategies on Investments of Idle Funds of locking in profits from the Dollar-Cost Averaging of Mutual Funds |
author_sort |
Wan-Ju HSU |
title |
A Study of Strategies on Investments of Idle Funds of locking in profits from the Dollar-Cost Averaging of Mutual Funds |
title_short |
A Study of Strategies on Investments of Idle Funds of locking in profits from the Dollar-Cost Averaging of Mutual Funds |
title_full |
A Study of Strategies on Investments of Idle Funds of locking in profits from the Dollar-Cost Averaging of Mutual Funds |
title_fullStr |
A Study of Strategies on Investments of Idle Funds of locking in profits from the Dollar-Cost Averaging of Mutual Funds |
title_full_unstemmed |
A Study of Strategies on Investments of Idle Funds of locking in profits from the Dollar-Cost Averaging of Mutual Funds |
title_sort |
study of strategies on investments of idle funds of locking in profits from the dollar-cost averaging of mutual funds |
publishDate |
2014 |
url |
http://ndltd.ncl.edu.tw/handle/15056960686382890676 |
work_keys_str_mv |
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