A systematic approach to evaluate funds based on fuzzy FWA method

It is important to establish a systematic and effective approach to evaluating funds for both the investors and the managers of funds. However, evaluation of funds involves with significant uncertainty associated with the experts' judgments. To deal with the problem, fuzzy set theory is employed to model experts' subjective judgment, based on which a fuzzy FWA method is formulated for the evaluation of funds by considering the risk, the profitability, the consistency and the fund manager's performance. Empirical results show that the proposed approach is reasonable and effective.