投资阻碍系数对FOF业绩评价的影响

he research of this paper focuses on how to improve the performance evaluation system of funds. For the first time, SE-DEA model and investment barrier coefficient are put into one framework, and the operational structure characteristics of FOF itself are added into the fund evaluation system, and the performance of direct investment in a single fund is compared with that of investment in FOF.This paper first introduces an investment hindrance coefficient, which is induced by the dual fee structure of FOF, then adds the investment hindrance coefficient as a new cost index to the SE-DEA model, and verifies its robustness and effectiveness. Finally, the grey system prediction model is used to backtest this model, and the fund performance in 2020 is predicted, and then compared with the real fund performanceIt is suggested that future fund managers, fund investors or FOF architects should comprehensively consider the advantages and disadvantages of the dual fee structure of FOF when evaluating fund performance. It provides relatively mature investment information for unprofessional investors. Therefore, it is necessary to include the index of investment hindrance coefficient.