| Summary: | 碩士 === 國立中山大學 === 財務管理學系研究所 === 106 === In recent years, mutual funds have become one of the important financial instruments for investors. Mutual funds have advantages such as risk spreading as well as investments with small portions. However, it becomes a dilemma for investors to choose suitable funds to gain decent profits with a minor risk. In addition, with the improvement of medical science, the situation of aging society in Taiwan is more severe than other countries. Also the nominal wage increasing rate cannot withstand the increasing of inflation. Therefore, financial management for retirement seems to be an issue for investors. In order to maintain the quality of retirement, investors are more careful in choosing financial instruments. Mutual funds seem to be the first choice for investors in financial management for retirement because factors such as retirement age and risk preference are considered and adjusted in mutual funds, so portfolios in mutual funds are considered to be conservative.
Global funds are one of the funds with lower risks due to the separated investment areas and not affecting by single country. Therefore, the characteristics qualify investors whose needs are saving for retirement. This research discuss advantages and disadvantages of global funds in financial management for retirement as well as for investors as a guide.
This research discusses the differences in returns and risks of funds via rate of return and Sharpe Ratio, and uses multiple regression analysis to find what macroeconomic factors will be affect. The conclusion of this research is global emerging market bond fund can be represented as a higher return with lower risk fund and suitable for financial management for retirement.
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