Taking partial stock fund for example，this paper investigates the herding behavior of China’s openend fund by adopting LSV model.Empirical results show that herding behavior exists widely within openend fund, buy herding behavior is more significant than sell herding behavior, and herding behavior is negatively correlated with stock size and the number of fund participating in trading.Moreover, openend funds show significant sell herding behavior when stock market falls and significant buy herding behavior when stock market rises.In the end, this paper briefly analyzes the forming reasons of herding behavior and puts forward suggestions.