Performance evaluation models of securities investment funds have accomplished abroad and new revised and supplemented models are continuously derived. These models can be classified into holistic performance evaluation model and timing and stock - choosing performance evaluation model. Because foreign popular holistic performance evaluation models are ineffective in mutual funds performance evaluation in China and because traditional earning rate index does not consider that risk factors have defects, there are a lot of things to do about selection of a good performance evaluation model. This paper analyzes foreign performance evaluation models of securities investment funds and makes positive research into mutual funds performance evaluation of China.