KR20210158151A - Apparatus and method for evaluating bond funds - Google Patents

Abstract

The present invention provides a method and an apparatus for evaluating bond funds which can quantitatively compare a plurality of bond funds and select a fund suitable for a market situation. According to one embodiment of the present invention, the method for evaluating bond funds is performed by a computing device and comprises: a step of classifying a bond fund as an active fund or a passive fund based on an active risk of the bond fund by a processor; a step of classifying a fund type of the bond fund based on a shift risk, a twist risk, and a credit risk if the bond fund is an active fund; a step of evaluating market suitability of the bond fund based on the active risk; a step of evaluating managing suitability of the bond fund based on results based on the fund type; and a step of evaluating style consistency of the bond fund based on whether the fund type changes.

Description

Bond Fund Valuation Method and Apparatus {APPARATUS AND METHOD FOR EVALUATING BOND FUNDS}

The present disclosure relates to a method and apparatus for evaluating a bond fund, and more particularly, to evaluate by varying evaluation criteria according to the type of bond fund, in particular, analyzing a fund based on a multi-factor model Then, it relates to a method and apparatus for evaluating a fund using the risk and performance of each factor.

Among conventional investment products, not only stock funds but also bond funds exist. In bond funds, risks and expected returns of each bond fund may be different depending on the fund's management strategy and types of bonds purchased in the fund.

In addition, the expected return of a bond fund may change depending on market conditions, and bond funds evaluated to be suitable for each market situation may differ from each other according to market conditions.

Therefore, for rapidly changing market conditions and various types of bond funds, investors may face high risks depending on the choice of bond fund, and there is a difficulty in selecting a suitable bond fund.

Existing fund analysis mainly evaluates the fund's past returns and volatility of returns, or based on the management policy (philosophy) input from the fund proposal provided by the fund manager, the active risk (active risk) for each fund of each fund manager. Risk), style exposure rate, risk contribution, and PSR (Portfolio Strategy & Risk) analysis, such as changes in stocks, based on the PSR analysis result, based on whether the fund is being managed according to its management policy this exists

However, there is a problem in that it is difficult to quantitatively compare a plurality of funds and select a fund suitable for the relevant market when a market in which a specific strategy is expected to perform well has arrived due to a change in the bond market situation.

Prior Art 1: Korean Patent Publication No. 10-1004375 (Registered on Dec. 21, 2010) Prior art 2: Korean Patent Publication No. 10-1139626 (Registered on April 17, 2012)

An embodiment of the present disclosure provides a method and apparatus for evaluating a bond fund capable of quantitatively comparing a plurality of bond funds and selecting a fund suitable for market conditions.

Another embodiment of the present disclosure provides a bond fund evaluation method and apparatus capable of quantitatively classifying the types of bond funds.

Another embodiment of the present disclosure provides a bond fund evaluation method and apparatus capable of evaluating a bond fund based on analysis results of various factors using a multi-factor model of the bond fund.

An embodiment of the present disclosure includes a processor and a memory electrically connected to the processor and storing at least one code executed by the processor, wherein the memory is executed by the processor when the processor is Classify the bond fund as an active fund or a passive fund based on the active risk of the bond fund, and when the bond fund is an active fund, shift risk, twist risk (twist risk) and credit risk (credit risk) to further classify the fund type of the bond fund, evaluate the market suitability of the bond fund based on the active risk, and based on the performance based on the fund type Provided is a computing device storing codes for evaluating the suitability of the bond fund for management and evaluating the style consistency of the bond fund based on whether the type of the fund has changed.

Another embodiment of the present disclosure is a method performed by a computing device, wherein, by the processor, the bond fund is converted into an active fund or a passive fund based on an active risk of the bond fund. classifying, by the processor, when the bond fund is an active fund, classifying the fund type of the bond fund based on shift risk, twist risk and credit risk evaluating, by the processor, the market suitability of the bond fund based on the active risk; evaluating, by the processor, the operational suitability of the bond fund based on performance based on the fund type; and the It provides, by a processor, a bond fund evaluation method of a computing device comprising the step of evaluating the style consistency of the bond fund based on whether the type of the fund has changed.

The bond fund evaluation method and apparatus according to an embodiment of the present disclosure may help select a bond fund suitable for market conditions through quantitative evaluation and comparison of a plurality of bond funds.

The bond fund evaluation method and apparatus according to an embodiment of the present disclosure may help investors to achieve excess performance by enabling the selection of a fund suitable for changes in market conditions.

1 is a view showing an environment for performing a bond evaluation method or driving a bond evaluation apparatus according to an embodiment of the present disclosure.
2 is a block diagram illustrating the configuration of a bond fund evaluation apparatus according to an embodiment of the present disclosure.
3 is a flowchart illustrating a bond evaluation method according to an embodiment of the present disclosure.
4 is a flowchart illustrating a method of classifying types of bond funds according to an embodiment of the present disclosure.
5 is a view for explaining a method of classifying types of bond funds according to an embodiment of the present disclosure.

Hereinafter, the embodiments disclosed in the present specification will be described in detail with reference to the accompanying drawings, but the same or similar components are assigned the same reference numbers regardless of reference numerals, and redundant description thereof will be omitted. The suffixes "module" and "part" for components used in the following description are given or mixed in consideration of only the ease of writing the specification, and do not have distinct meanings or roles by themselves. In addition, in describing the embodiments disclosed in the present specification, if it is determined that detailed descriptions of related known technologies may obscure the gist of the embodiments disclosed in this specification, the detailed description thereof will be omitted. In addition, the accompanying drawings are only for easy understanding of the embodiments disclosed in the present specification, and the technical idea disclosed herein is not limited by the accompanying drawings, and all changes included in the spirit and scope of the present invention , should be understood to include equivalents or substitutes.

Terms including an ordinal number such as 1st, 2nd, etc. may be used to describe various elements, but the elements are not limited by the terms. The above terms are used only for the purpose of distinguishing one component from another.

When an element is referred to as being “connected” or “connected” to another element, it is understood that it may be directly connected or connected to the other element, but other elements may exist in between. it should be On the other hand, when it is said that a certain element is "directly connected" or "directly connected" to another element, it should be understood that the other element does not exist in the middle.

An environment for driving the bond fund evaluation apparatus according to an embodiment of the present disclosure will be described with reference to FIG. 1 .

The environment for performing the bond fund evaluation method or driving the bond fund evaluation device according to an embodiment of the present disclosure includes the bond fund evaluation device 100 and the information providing device 200 for selectively providing information on the bond fund. can The bond fund evaluation device 100 or the information providing device 200 may be a server device of a securities company or a server device of an asset manager, and the operating entity is not particularly limited. In addition, the bond fund evaluation apparatus 100 or the information providing apparatus 200 may be a computing device such as a laptop computer, a mobile device, a personal computer, etc. including a processor, a storage unit such as a memory, etc. do not limit

The information providing device 200 provides the bond fund information for the bond fund analysis to the bond fund evaluation device 100 through the network 300 to cause the bond fund evaluation device 100 to analyze the bond fund, or A result of performing the fund analysis may be provided to the bond fund evaluation apparatus 100 .

When the information providing device 200 or the bond fund evaluation device 100 analyzes the bond fund using a multi-factor model, the information providing device 200 or the bond fund evaluation device 100 provides data A Portfolio Strategy and Risk (PSR) model can be created through the processes of collection and modification, descriptor selection and testing (univariate), risk index creation, risk index return prediction, covariance matrix calculation, unique risk prediction, and model adjustment.

In this case, the information providing device 200 or the bond fund evaluation device 100 uses the generated PSR model, that is, a multi-factor model (Multi Factor Model) to separate the source of the rate of return and risk for each factor. A PSR analysis can be performed to analyze, and the PSR analysis can be performed on common factors (eg, duration, sector, etc.) and unique factors (eg, individual characteristics of bonds, etc.) of each bond belonging to a bond fund. ) can be decomposed into the bond yield.

The multi-factor model is a model that decomposes the yield of a bond using various factors, and it is possible to analyze the contribution of each factor to the rate of return and use this to evaluate performance and manage risk for each bond issue.

In addition, the information providing device 200 or the bond fund evaluation device 100 calculates the risk of the bond fund portfolio by reflecting the factor risk after calculating the factor exposure of the current bond fund portfolio (risk analysis), or the exposure level for each factor By combining (weight) and factor performance, portfolio performance can be decomposed into performance by factor (performance analysis).

A multi-factor model for bonds can be as follows.

는 i 종목의 자본수익률(이자 수익률 제외),

는 i종목의 k요인에 대한 노출도(factor exposure),

는 k요인의 수익률에 대한 기여도(factor return),

는 i종목의 고유 요인에 의한 수익률을 의미한다.here,

is the return on capital (excluding interest rate) of stock i,

is the factor exposure of i stock to factor k,

is the contribution of factor k to the return (factor return),

denotes the rate of return due to the intrinsic factor of stock i.

The bond fund evaluation apparatus 100 classifies the bond fund into an active fund or a passive fund based on the analysis result using the multi-factor model for the portfolio of the bond fund, and the bond fund is active In the case of a fund, the fund type of the bond fund may be classified based on shift risk, twist risk, and credit risk.

Also, the bond fund evaluation apparatus 100 may evaluate market suitability, operational suitability, and style consistency of the bond fund based on the analysis result using the multi-factor model.

A method for the bond fund evaluation apparatus 100 to classify and evaluate bond funds will be described in detail below with reference to FIGS. 3 to 5 .

The configuration of the bond fund evaluation apparatus 100 according to an embodiment of the present disclosure will be described with reference to FIG. 2 .

The bond fund evaluation device 100 classifies the type of bond fund based on the portfolio analysis result of the bond fund and evaluates at least one or more evaluation indicators of the bond fund processor 130, information providing device 200, or other external Communication unit 110 that transmits/receives information of the device and bond fund or transmits analysis and evaluation results, intermediate data of operation to perform the evaluation method of bond funds, information of bond funds (eg, constituent stocks, each It may include a memory 120 for storing the results of analysis of stocks and bonds) or bond funds.

The communication unit 110 may include a wireless communication unit or a wired communication unit.

The wireless communication unit may include at least one of a mobile communication module, a wireless Internet module, a short-range communication module, and a location information module.

The mobile communication module includes technical standards or communication methods for mobile communication (eg, GSM (Global System for Mobile communication), CDMA (Code Division Multi Access), CDMA2000 (Code Division Multi Access 2000)), EV-DO ( Enhanced Voice-Data Optimized or Enhanced Voice-Data Only), Wideband CDMA (WCDMA), High Speed Downlink Packet Access (HSDPA), High Speed Uplink Packet Access (HSUPA), Long Term Evolution (LTE), Long Term (LTE-A) Evolution-Advanced), etc.), transmits and receives radio signals to and from at least one of a base station, an external terminal, and a server on a mobile communication network.

The wireless Internet module refers to a module for wireless Internet access, and may be built-in or external to the bond fund evaluation apparatus 100 . The wireless Internet module is configured to transmit and receive wireless signals in a communication network according to wireless Internet technologies.

As wireless Internet technology, for example, WLAN (Wireless LAN), Wi-Fi (Wireless-Fidelity), Wi-Fi (Wireless Fidelity) Direct, DLNA (Digital Living Network Alliance), WiBro (Wireless Broadband), WiMAX (World Interoperability for Microwave Access), High Speed Downlink Packet Access (HSDPA), High Speed Uplink Packet Access (HSUPA), Long Term Evolution (LTE), Long Term Evolution-Advanced (LTE-A), and the like.

The short-range communication module is for short-range communication, and includes Bluetooth™, Radio Frequency Identification (RFID), Infrared Data Association (IrDA), Ultra Wideband (UWB), ZigBee, and Near Field (NFC). Communication), Wi-Fi (Wireless-Fidelity), Wi-Fi Direct, and Wireless USB (Wireless Universal Serial Bus) technology may be used to support short-distance communication.

The location information module is a module for obtaining the location (or current location) of the bond fund evaluation device 100, and a representative example thereof is a GPS (Global Positioning System) module or a WiFi (Wireless Fidelity) module. For example, if the terminal utilizes the GPS module, it may acquire the position of the bond fund evaluation apparatus 100 using a signal transmitted from a GPS satellite.

In an embodiment, the bond fund evaluation apparatus 100 may include an input unit (not shown) for a user's input.

The input unit may include a microphone for receiving an audio signal and a user input unit for receiving information from a user.

The user input unit may include a mechanical input means (or a mechanical key, a button, a dome switch, a jog wheel, a jog switch, etc.) and a touch input means. As an example, the touch input means consists of a virtual key, a soft key, or a visual key displayed on the touch screen through software processing, or a part other than the touch screen. It may be made of a touch key (touch key) disposed on the.

In an embodiment, the bond fund evaluation apparatus 100 may include an interface unit (not shown) that serves as a passage with various types of external devices connected to the bond fund evaluation apparatus 100 . The interface unit includes a wired/wireless data port, a memory card port, a port for connecting a device equipped with an identification module, an audio I/O (Input/Output) port, a video I It may include at least one of an /O (Input/Output) port and an earphone port.

In addition, the bond fund evaluation apparatus 100 applies external power and internal power under the control of the database 140 that classifies and stores the information of the bond fund or the analysis result of the bond fund by each factor, and the processor 130 . It may include a power supply unit 150 for supplying power to each component included in the bond fund evaluation apparatus 100 to receive. The power supply unit 150 includes a converter or a battery that converts the supplied AC power into DC power, and the battery may be a built-in battery or a replaceable battery.

In one embodiment, the memory 120 of the bond fund evaluation apparatus 100 may include a machine learning (Machine Learning)-based learning model, the machine learning-based learning model is CNN or R-CNN (Region based CNN) ), C-RNN (Convolutional Recursive Neural Network), Fast R-CNN, Faster R-CNN, R-FCN (Region based Fully Convolutional Network), YOLO (You Only Look Once) or SSD (Single Shot Multibox Detector) structure It may include a neural network.

The learning model may be implemented in hardware, software, or a combination of hardware and software, and when a part or all of the learning model is implemented in software, one or more instructions constituting the learning model may be stored in the memory 120 . The learning model may be a learning model trained to classify types of bond funds using training data having a fund type for portfolio analysis factors of a bond fund as a label. The bond fund evaluation apparatus 100 may determine the bond fund type based on a learning model trained with training data having, as a label, the fund type for portfolio analysis factors of the bond fund.

A bond fund evaluation method of the bond fund evaluation apparatus 100 according to an embodiment of the present disclosure will be described with reference to FIG. 3 .

The processor 130 of the bond fund evaluation device 100 analyzes the bond fund using a multi-factor model based on information of the bond fund received from the information providing device 200 or an external device or input from a user, or information A bond fund may be classified into an active fund or a passive fund based on the multi-factor model-based analysis result of the bond fund received from the providing device 200 or an external device or input from a user ( S110). The bond fund evaluation apparatus 100 or the information providing apparatus 200 may provide active risk, style exposure, sector exposure, risk contribution, change in stocks, etc. as a result of multi-factor model-based analysis for bond funds.

Active risk is the risk that can measure the difference in performance against a benchmark against which a fund or managed portfolio is compared. to provide.

The bond fund evaluation apparatus 100 or the information providing apparatus 200 may observe active risks by comparing various risk characteristics. Three of the risk metrics for comparing active risk include beta, standard deviation or volatility, and the Sharpe Ration. Beta represents the fund's risk relative to the benchmark, with a fund beta greater than 1 indicating high risk and a fund beta lower than 1 indicating low risk. Standard deviation, or volatility, collectively represents the volatility of the underlying security. A measure of fund volatility above the benchmark is risky, and a fund volatility measure below the benchmark is low risk. The Sharpe ratio provides a metric for understanding excess return as a function of risk. A higher Sharpe ratio means that the fund invests more efficiently by generating a higher return per unit of risk. The method of calculating active risk may be by subtracting the benchmark return from the investment return, taking the investment difference over time and the standard deviation of the benchmark return, or other methods.

In addition, style exposure indicates the difference between the style factor of the fund and the style factor of the benchmark. The closer to 0, the more similar it is to the benchmark. The sector exposure is the sector factor of the fund and the sector factor of the benchmark. It indicates the difference between , and the closer it is to 0, the more similar it is to the benchmark.

In addition, risk contribution represents the composition ratio of common factor risk, style risk, industry risk, covariance risk, and stock selection risk, which are components of active risk. , indicates what percentage of stock selection risk is contributing. Even within style risk and industry risk, the risk contribution can be calculated for each detailed factor.

Since the method for the bond fund evaluation apparatus 100 to perform multi-factor analysis on the portfolio of bond funds is known to those skilled in the art, further detailed description thereof will be omitted herein.

The processor 130 of the bond fund evaluation apparatus 100 may classify the bond fund into an active fund or a passive fund based on an active risk that is one of the analysis results of the bond fund.

In an embodiment, the processor of the bond fund evaluation apparatus 100 classifies the bond fund as a passive fund when the active risk of the bond fund is less than a preset first active risk reference value, and when the active risk is equal to or greater than the first active risk reference value, the bond fund It may further include the step of classifying as an active fund. In this case, the first active risk reference value may be preset based on the management fee of the bond fund, and the bond fund evaluation apparatus 100 performs a specific period (a certain portion of the total period for evaluating the bond fund) even in the same bond fund. period), a bond fund can be classified as either an active fund or a passive fund. A specific section may be a month, quarter, or semi-annual period, and the length of the section is not particularly limited.

For example, an analysis result based on a multi-factor model of a bond fund having an AA fund code may be as shown in FIG. 5 .

If the management fee of the bond fund is 10bp (basis point, 10bp is 0.1%), the first active risk reference value is the first active risk reference value so that the active risk is 0.1 or more compared to the benchmark in order to expect performance above the management fee This can be set. Alternatively, the first active risk reference value may be preset to be greater than or equal to a certain percentage or a certain value of the management fee. For example, the first active risk reference value may be set to always have a value of 10% or more than the management fee, or the first active risk reference value may be set to have a value of 1 bp or more than the management fee. Accordingly, the bond fund evaluation apparatus 100 may classify a bond fund that can expect a higher profit than the management fee of the bond fund as an active fund implementing an active strategy.

5 as an example, when the first active risk reference value is set so that the active risk is 0.1 or more, the bond fund evaluation apparatus 100 checks the active risk 510 of each section of the bond fund having the AA fund code, , since the active risk is 0.085 in section 1, a bond fund with the AA fund code is classified as a passive fund. In sections 3 to 6, since the active risk is 0.1 or more, the bond fund evaluation apparatus 100 may classify the bond fund having the AA fund code as an active fund.

When the bond fund is an active fund (S112), the processor 130 of the bond fund evaluation apparatus 100 determines the bond fund's value based on a shift risk, a twist risk, and a credit risk. A first type, which is a detailed fund type, may be determined (S120). In this case, the bond fund evaluation apparatus 100 may determine the first type of the bond fund for each section, respectively.

Referring to FIG. 4 as an example, a method in which the bond fund evaluation apparatus 100 determines the first type and the second type of bond funds classified as active funds will be described in detail.

In one embodiment, the bond fund evaluation apparatus 100 includes a shift factor, a twist factor, and a credit factor among the multi-factor model-based analysis results for a bond fund classified as an active fund. Each risk can be checked (S210).

The bond fund evaluation apparatus 100 may determine the first type of the bond fund as a fund type associated with the highest risk factor among risks of the shift factor, the twist factor, and the credit factor ( S220 ).

Taking Figure 5 as an example, a bond fund having an AA fund code has twist factor, shift factor, and credit factor risks of 0.0964, 0.0334, and 0.0507, respectively, in 3 sections, and among them, the risk of the twist factor is the largest, so bond fund evaluation device (100) may determine (520) the twist, the first type of 3 sections of the bond fund with the AA fund code. Similarly, since the credit risk is the greatest in sections 4 to 6, a bond fund having an AA fund code may be determined as a credit in sections 4 to 6 as the first type (520).

Thereafter, the bond fund evaluation apparatus 100 may identify a first factor that is any one of a shift factor, a twist factor, or a credit factor of the bond fund based on the first type of the bond fund ( S230 ). For example, if the first type of the bond fund is determined to be twisted, the twist factor of the bond fund may be checked.

Taking FIG. 5 as an example, since the bond fund evaluation apparatus 100 determines 520 the first type of the 3 section of the bond fund having the AA fund code to be twisted, the twist factor is checked and the exposure degree (exposure value) of the twist factor of the 3 sections ) is 0.2974.

In one embodiment, the bond fund evaluation apparatus 100 is the first factor exposure average of at least two or more funds classified into the same type as the first type of bond funds or the average of the first factor exposure of all bond funds and bonds The first factor exposure of the funds may be compared (S240), and a second type of the bond fund may be determined based on the comparison result (S250).

5 as an example, in the bond fund evaluation apparatus 100, the bond fund having the AA fund code is determined 520 to be the first type of the 3 period twist, and 0.2974, which is the exposure (exposure value) of the twist factor of the 3 period, is If the twist factor exposure of the funds classified as twisted (or all bond funds) is also higher than the average ( 532 ), the second type of the bond fund having the AA fund code may be determined as +twist ( 530 ).

Similarly, the bond fund evaluation apparatus 100 determines the exposure of the credit factor in sections 4 to 6 of the bond fund having the AA fund code, respectively, the credit factor of the funds (or all bond funds) in which the first type is classified as credit. Compared with the exposure average (534), the second type of the corresponding section of the bond fund having the AA fund code may be determined (530) as -credit, +credit, and +credit, respectively.

Referring back to FIG. 3 , the bond fund evaluation device 100 evaluates the market suitability of the bond fund based on active risk (S130), evaluates the operational suitability of the bond fund based on the performance based on the fund type, and (S140), it is possible to evaluate the style consistency of the bond fund based on whether the type of fund has changed (S150).

In an embodiment, the bond fund evaluation apparatus 100 may evaluate market suitability based on a change in active risk for a preset period.

For example, the bond fund evaluation apparatus 100 compares the active risk value of each section of the bond fund with the first active risk reference value, and gives a preset score when the active risk in each section is the first active risk reference value market suitability can be evaluated by dividing the summed value by the total number of sections.

5 as an example, the bond fund evaluation device 100 gives 1 point for each section in which the active risk in each section of sections 1 to 6 of the bond fund having the AA fund code is 10 bp or more, which is the first active risk reference value, and adds up The market suitability can be evaluated as 0.67 (540) by dividing one value (4) by 6, which is the total number of sections.

In one embodiment, the bond fund evaluation apparatus 100 is a first type of bond fund for a preset period and a performance average according to the first type of at least two or more funds classified into the same type as the first type of bond fund Operation suitability can be evaluated based on the result of comparison of performance according to

For example, the bond fund evaluation apparatus 100 compares the performance of the shift factor of the bond fund when the bond fund is shifted to the shift factor performance average of bond funds whose first type is shift to a preset criterion according to the comparison result. Accordingly, a score is given to each section, and the suitability of the bond fund can be evaluated with the average of the scores.

In addition, when the bond fund is a passive fund, the average of the sum of the shift performance, twist performance and credit performance of at least two funds classified as passive funds for the second preset period and the shift performance, twist performance and credit performance of the bond fund Operation suitability can be evaluated based on the comparison result of the consensus of

5 as an example, in the bond fund evaluation apparatus 100, the bond fund having the AA fund code is classified as a passive fund in the first section, and the shift performance, twist performance and credit performance of the bond fund having the AA fund code in the first section Based on the result that the sum of 0.096 is smaller than 0.173, which is the average of the sum of shift performance, twist performance, and credit performance of bond funds classified as passive funds, by 0.08, it is possible to give the management suitability interval score for section 1 as 0.3.

At this time, if the strategic performance falls within the same preset range compared to the average performance of the bond fund of the same type, a basic score of 0.5 points is given, and 0.2 points can be added or subtracted from the basic score for every 5 bp difference, and the basic score , the scores to be added or subtracted, and the difference in units to be added or subtracted can be determined by comparing the performance of multiple funds in the evaluation period.

In an embodiment, the bond fund evaluation apparatus 100 may evaluate style consistency based on a change in the first type of bond fund for a preset period.

For example, the bond fund evaluation apparatus 100 divides the preset period into a plurality of sections, determines whether the first type of bond fund evaluated in each section is consistently maintained or does not keep consistency for each section and changes and maintains Each time is given a score, and the average value can be used to evaluate style consistency. That is, if the bond fund maintains the same first type in the next interval following the first type in the previous interval, a score may be awarded, and if the first type is changed (different), a score may not be awarded. In this case, since the passive type is not an active strategy, points may not be awarded.

5 as an example, the bond fund evaluation apparatus 100 classifies the bond funds having the AA fund code into passive, passive, twisted, credit, credit, and credit in order of each first type in sections 1 to 6, Since type 1 maintained the same credit type in sections 4 to 6, 1 point was given for each section in sections 5 and 6 and added up (2 points in total) divided by the number of evaluations (5 times with total number of sections -1) (0.4) (560) evaluates style consistency.

In one embodiment, the bond fund evaluation apparatus 100 may evaluate the bond fund by reflecting the evaluation results (market suitability, operational suitability, and style consistency) of the bond fund at a preset ratio, respectively ( S160).

In this case, the bond fund evaluation apparatus 100 may evaluate the bond fund by giving weight to a specific evaluation index from a result of evaluating each evaluation index.

For example, if the bond fund evaluation device 100 has a preset ratio of 1:2:1 for each of market suitability, operational suitability, and style consistency, the result of evaluating the operational suitability is 2 than the result of evaluating other evaluation indicators. It can be combined by reflecting the ship.

In an embodiment, the bond fund evaluation apparatus 100 may evaluate the bond fund by adding up a value obtained by multiplying a result of evaluating the evaluation indicators (market suitability, operational suitability, and style consistency) by a preset ratio and averaging them. .

Taking FIG. 5 as an example, the bond fund evaluation apparatus 100 reflects the result of evaluating each evaluation index of the bond fund having the AA fund code, which is a preset ratio of 1:2:1, and the summation score (0.67+0.8+) 0.4 = 1.87), 0.62) can be determined as the overall valuation of a bond fund with the AA fund code.

In an embodiment, the bond fund evaluation apparatus 100 may determine a specific bond fund as a bond fund suitable for a particular market situation based on the first type and comprehensive evaluation of each bond fund with respect to the plurality of bond funds.

For example, when the bond fund evaluation apparatus 100 evaluates the market situation that the twist strategy will perform well (or receives input from the operator that the twist strategy is good in the market situation), the first type is the twist A bond fund evaluation may be performed on a plurality of bond funds, and the bond fund with the best overall evaluation may be determined as a bond fund suitable for the relevant market conditions.

The present disclosure described above can be implemented as computer-readable code on a medium in which a program is recorded. The computer-readable medium includes all types of recording devices in which data readable by a computer system is stored. Examples of computer-readable media include Hard Disk Drive (HDD), Solid State Disk (SSD), Silicon Disk Drive (SDD), ROM, RAM, CD-ROM, magnetic tape, floppy disk, optical data storage device, etc. There is this. In addition, the computer may include a processor of the bond fund evaluation apparatus 100 .

Meanwhile, the program may be specially designed and configured for the present disclosure, or may be known and used by those skilled in the art of computer software. Examples of the program may include not only machine code generated by a compiler, but also high-level language code that can be executed by a computer using an interpreter or the like.

In the specification of the present disclosure (especially in the claims), the use of the term “above” and similar referential terms may be used in both the singular and the plural. In addition, when a range is described in the present disclosure, each individual value constituting the range is described in the detailed description of the invention as including the invention to which individual values within the range are applied (unless there is a description to the contrary). same as

The steps constituting the method according to the present disclosure may be performed in an appropriate order unless the order is explicitly stated or there is no description to the contrary. The present disclosure is not necessarily limited to the order in which the steps are described. The use of all examples or exemplary terms (eg, etc.) in the present disclosure is merely for the purpose of describing the present disclosure in detail, and the scope of the present disclosure is not limited by the examples or exemplary terms unless limited by the claims. It is not limited. In addition, those skilled in the art will appreciate that various modifications, combinations and changes can be made according to design conditions and factors within the scope of the appended claims or their equivalents.

Accordingly, the spirit of the present disclosure should not be limited to the above-described embodiments, and the scope of the spirit of the present disclosure as well as the claims to be described later are equivalent to or equivalently changed therefrom. will be said to belong to

100: bond fund valuation device 200: information providing device

Claims (11)

A method performed by a computing device, comprising:
classifying, by the processor, the bond fund into an active fund or a passive fund based on an active risk of the bond fund;
classifying, by the processor, a fund type of the bond fund based on a shift risk, a twist risk, and a credit risk, when the bond fund is an active fund;
evaluating, by the processor, the market suitability of the bond fund based on the active risk;
evaluating, by the processor, the suitability of the bond fund based on the performance based on the type of the fund; and
Comprising, by the processor, evaluating the style consistency of the bond fund based on whether the fund type has changed,
A method of evaluating a bond fund on a computing device.
The method of claim 1,
Classifying the bond fund as an active fund or a passive fund comprises:
By the processor, when the active risk of the bond fund is less than a preset first active risk reference value, the bond fund is classified as a passive fund, and when the active risk is greater than or equal to the first active risk reference value, the bond fund further comprising the step of classifying as an active fund;
The first active risk reference value is preset based on the management fee of the bond fund,
A method of evaluating a bond fund on a computing device.
3. The method of claim 2,
Classifying the fund type of the bond fund comprises:
checking, by the processor, the shift risk, the twist risk, and the credit risk calculated by analyzing the bond fund based on a multi-factor model; and
Further comprising, by the processor, determining, by the processor, the first type of the bond fund as a fund type related to a risk having a highest value among the shift risk, the twist risk, and the credit risk,
A method of evaluating a bond fund on a computing device.
4. The method of claim 3,
Identifying, by the processor, a first factor that is any one of a shift factor, a twist factor, or a credit factor of the bond fund based on the first type of the bond fund step; and
By the processor, the first factor exposure average of at least two or more funds classified into the same type as the first type of the bond fund or the first factor exposure average of all bond funds and the first factor exposure of the bond fund Further comprising the step of determining the second type of the bond fund based on a result of comparing the figures,
A method of evaluating a bond fund on a computing device.
4. The method of claim 3,
The step of evaluating the suitability of the bond fund for management,
In the first type of the bond fund for a second preset period and a performance average according to the first type of at least two or more funds classified into the same type as the first type of the bond fund by the processor Further comprising the step of evaluating the operational suitability based on the comparison result of the performance,
A method of evaluating a bond fund on a computing device.
4. The method of claim 3,
Evaluating the style consistency of the bond fund comprises:
further comprising, by the processor, evaluating, by the processor, the style consistency based on a change in the first type of the bond fund over a third preset period;
A method of evaluating a bond fund on a computing device.
7. The method of claim 6,
Evaluating the style consistency based on the change in the first type of the bond fund comprises:
If the first type of the bond fund of the previous period and the first type of the bond fund of the subsequent period among the consecutive segments for the third period are the same, the previous period of the consecutive segments for the third period is the same. Further comprising the step of valuing the style consistency higher than when the first type of the bond fund and the first type of the bond fund in subsequent sections are different,
A method of evaluating a bond fund on a computing device.
The method of claim 1,
Evaluating the market suitability of the bond fund comprises:
further comprising, by the processor, evaluating the market suitability based on a change in the active risk for a first preset period;
A method of evaluating a bond fund on a computing device.
The method of claim 1,
The step of evaluating the suitability of the bond fund for management,
By the processor, when the bond fund is a passive fund, the average of the sum of the shift performance, the twist performance and the credit performance of at least two funds classified as a passive fund for a preset second period and the shift performance of the bond fund; Further comprising the step of evaluating the operational suitability based on a comparison result of the agreement of the twist performance and the credit performance,
A method of evaluating a bond fund on a computing device.
The method of claim 1,
By the processor, the result of evaluating the market suitability of the bond fund, the result of evaluating the operational suitability and the evaluation of the style consistency are reflected in a preset ratio, respectively, and synthesized to determine the comprehensive evaluation of the bond fund further comprising the step of
A method of evaluating a bond fund on a computing device.
processor; and
It is electrically connected to the processor and comprises a memory in which at least one code (code) executed by the processor is stored,
The memory is
When executed through the processor, the processor classifies the bond fund into an active fund or a passive fund based on an active risk of the bond fund, and the bond fund is an active fund. further classify the fund type of the bond fund based on shift risk, twist risk and credit risk, and evaluate the market suitability of the bond fund based on the active risk; , storing codes causing to evaluate the suitability for management of the bond fund based on the performance based on the fund type, and evaluate the style consistency of the bond fund based on whether the fund type has changed,
computing device.

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