Pregled bibliografske jedinice broj: 897493
Is active management of mandatory pension funds in Croatia creating value for second pillar fund members?
Is active management of mandatory pension funds in Croatia creating value for second pillar fund members? // Financijska teorija i praksa, 39 (2015), 3; 245-278 doi:10.3326/fintp.39.3.1 (međunarodna recenzija, članak, znanstveni)
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Naslov
Is active management of mandatory pension funds in Croatia creating value for second pillar fund members?
Autori
Matek, Petar-Pierre ; Radaković, Maša
Izvornik
Financijska teorija i praksa (1332-3970) 39
(2015), 3;
245-278
Vrsta, podvrsta i kategorija rada
Radovi u časopisima, članak, znanstveni
Ključne riječi
pension funds, performance attribution, policy return, active return,
Sažetak
This paper analyses Croatian mandatory pension funds’ investment returns during the 2005-2014 period using performance attribution methodology. Results from active investment management are compared to a long-term policy return. Such analysis is essential to shed light on the contribution of active portfolio management in the second pillar pension scheme. Evidence suggests that in the period analyzed portfolio managers have added value through active management decisions. In addition, we determined the sources of portfolio return by breaking down active return into policy, tactical asset allocation and security selection effect.
Izvorni jezik
Engleski
Znanstvena područja
Ekonomija
Citiraj ovu publikaciju:
Časopis indeksira:
- EconLit
