The paper, using portrait analysis by time sequence, studies 48 sample investment funds listed in the Shanghai and Shenzhen security markets. To understand the relative growing capacity of fund markets in each time section, authors divide the period from June 6,1998 to June 6, 2002 into 8 time sections. Based on the objective analysis of China's investment funds market, authors believe that China's investment funds market remains in its early growing days, expecting a great development perspective.