The Structure of Evaluation System and Empirical Analysis of Chinese Hedge Fund

With the enrichment of hedge fund products, building a evaluation system of Chinese hedge funds has become a hot topic. Base on this background, this paper studied and combed the different rating index and methods from domestic and foreign academic papers and professional rating agencies. Combining with the characteristic of hedge funds in our country, we selected suitable index to build the evaluation system of Chinese hedge funds. Then we picked 30 hedge funds as samples to do the empirical test. The results showed that there were some problems in the operation of our hedge funds, such as weak sustainability and bad timing ability. Finally we put forward some countermeasures to the development of Chinese hedge funds accordingly, such as improving the quality of fund managers, strengthening the information disclosure system, and improving the supervision to make the fund operation more specification.