20世纪 90年代以来 ,证券投资基金盈利能力的持续性是西方证券投资研究领域中人们颇为关注的一个问题。通过运用非参数检验和参数检验两种方法对中国投资基金盈利能力是否具有持续性进行实证研究 ,得出了中国证券投资基金盈利能力在时间上具有一定的正相关性 ,但不显著 ;超额收益率指标对中国证券投资基金盈利能力的解释缺乏有效性 ;业绩分类信息对投资者获得超额收益有一定的解释力 ,但不显著等结论。这些结论表明 ,目前中国证券投资基金盈利能力在时间上不具有显著的持续性。 Since the 90s of the 20th century, the sustainability of the profitability of securities investment funds is one of the most concerned issues in the field of western securities investment research. Through empirical research on the sustainability of China’s investment fund’s profitability by using two methods of non-parametric test and parametric test, it is found that the profitability of China’s securities investment fund has a certain positive correlation in time, but not significant. Excess returns The rate index does not explain the profitability of China’s securities investment funds. The performance classification information has some explanatory power for investors to obtain excess returns, but it is not significant. These conclusions show that the profitability of China’s securities investment funds currently does not have significant continuity in time.