Naslov
PERFORMANCE ANALYZES OF CROATIAN OPEN-ENDED INVESTMENT FUNDS WITH PUBLIC OFFERING (UCITS FUNDS)

Autori
Damiš , Ivona ; Đunđek Kokotec , Ivana ; Klačmer Čalopa , Marina

Vrsta, podvrsta i kategorija rada
Radovi u zbornicima skupova, cjeloviti rad (in extenso), znanstveni

Izvornik
Book of Proceedings, 88th International Scientific Conference on Economic and Social Development – "Roadmap to NetZero Economies and Businesses" / Janjusevic , Jelena ; Hopkinson , Paul ; Pandza Bajs , Irena - , 2022, (134)-(144)

Skup
88th International Scientific Conference on Economic and Social Development: Roadmap to NetZero Economies and Businesses

Mjesto i datum
Dubai, Ujedinjeni Arapski Emirati, 19.10.2022. - 20.10.2022

Vrsta sudjelovanja
Predavanje

Vrsta recenzije
Međunarodna recenzija

Ključne riječi
Investment Funds ; Risk ; Jensen's alpha ; Sharper ratio ; Sortino ratio

Sažetak
The subject of this paper is to analyze the performance of Open-Ended Investment Funds with Public Offering (UCITS funds) in the Republic of Croatia from 2014 to 2021 based on monthly returns. UCITS funds were chosen because they represent the dominant type of investment funds in net asset value (NAV). The popularity of this type of investor is reflected in the channeling of the savings of small investors to the capital market through the securitization mechanism. The advantage of investing by small investors through investment funds, especially UCITS funds, is manifested in the reduction of transaction costs based on economies of scale and investment risk by holding a well-diversified portfolio. The research was conducted on a balanced sample of a total of 32 funds that were analyzed as a whole but also separately according to the individual type to which they belong and which operated continuously in the observed period from January 1, 2014. until December 31, 2021 (equity fund- 15, bond fund- 11 and balanced fund - 6). The effect of their portfolio management, and consequently the analysis of business success, were analyzed with static indicators, primarily Absolute risk measures and with the Absolute risk-adjusted measures, Jensen's alpha, Sharper ratio and Sortino ratio.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

POVEZANOST RADA