Fund styles and the risk-adjusted performance evaluation of Mutual Funds in the period of 2009- 2014 in Turkey
Başlık çevirisi mevcut değil.
- Tez No: 724225
- Danışmanlar: DR. LESLEY BUİCK
- Tez Türü: Yüksek Lisans
- Konular: Ekonomi, Maliye, Economics, Finance
- Anahtar Kelimeler: Belirtilmemiş.
- Yıl: 2015
- Dil: İngilizce
- Üniversite: The University of Sheffield
- Enstitü: Yurtdışı Enstitü
- Ana Bilim Dalı: Belirtilmemiş.
- Bilim Dalı: Belirtilmemiş.
- Sayfa Sayısı: 65
Özet
Özet yok.
Özet (Çeviri)
This study atlempts to evalııate performance of Type A and Type B mutual fıınds compaıing its specifia benchmaık starting from January 201 O to Jaııuaıy 2015 in Tuıkey. it was aimed to show _guidance ıo the iııdividual investors aııd bankiııg, iııvestment aııd fiııaııcial institutions as we/1 as portfolio and fuııd managers c/tıe to iııcreasing complexily of investmeııt instrumeııt and ıo provide an explicit understan·ding of lıow perfoımaııce eva/ualioıı can be done and how peıfornıance aııa/ysis can be ulilised before lakiııg a sound iııveslmenl decision or stralegy. Employing differeııt kind of 10 Type A aııd 10 Type 8 mıııual funds, the traditional riskadjusled measures are applied iıı /his study. Risk-adjusted measures can be lined up as Sharpe Ratio, Treyııor measııre, Jensen 's. Alplıa and Sortii1o Ralio in 1/ıis study. Bloonıberg Professioıial are ıılilised to complemenı data colleclioıı process perfectly. Tlıe resu/1 demoııstrates tlıat simi/ar fiııdiııgs are revea/ed betweeıı previous researc/ıes aııd lhis study. The (iııdiııgs of Slıarpe Ralio imply tlıat neither Type A nor Type B funds could generale consistently acceptable retum-reward, a/thouglı few hig/ı S/ıarpe Ratio are encouııtered over (/ıe !ive years period. Based on overa/I Treynor measure results, average both Type A and Type B fund maııagers could ııol eam abııormal returıı except !rom only tlıree Type A tımd in tlıe perİocl 2010 ancı 2014. Therefore, both Types of (und strategy ıııig/ıt be assumed clefensive rather tlıaıı offeıısive agaiııst tlıe market risk. Neillıer Type A ııor Type B funds could oııtperform the market valııe and renıarkab/e iııcoıısistency was ol>seıved resul/ iıı Jeıısen Alp/ıa aparl /rom sııperior peıformaııce of a few Type A fuııd. Type A tvııc/'s Sortiııo resu//s were mııclı more. lıigher aııd more positive 1/ıaıı Type B ftıııcls. Overa/1, tlıe performance of Type A funds betler tlıan Type B fıınds. However, wlıel/ıer peıformance Type A (uııc/s can be supposed sııccessful or not is a discuss/on point and alsa, t/ıe amoıın/ of Type 8 iııvestors wlıiclı was Jıig/ıer thaıı Type A but, its peıioımance stil/ argııab/e poiııt.
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