EFEKTYWNOŚĆ INWESTOWANIA W OTWARTYCH FUNDUSZACH INWESTYCYJNYCH W POLSCE W LATACH 2001-2010/THE EFFICIENCY OF INVESTING IN OPEN-END MUTUAL FUNDS IN POLAND IN YEARS 2001-2010

Kinga Jurek-Wasilewska ()
Additional contact information
Kinga Jurek-Wasilewska: Dr, absolwentka Uniwersytetu Łódzkiego, Wydziału Ekonomiczno-Socjologicznego

Journal of Finance and Financial Law, 2014, vol. 1, issue 1, 20-33

Abstract: The article aims to evaluate the efficiency of investing in units of open-end mutual funds in Poland using rate of return and risk-adjusted ratios derived from the Capital Asset Pricing Model. The analysis was based on the statistical verification of the quality of asset management in relation to the market portfolio performance in various market conditions. The survey included open-end mutual funds divided into groups according to their investment policy in years 2001-2010. The results of the evaluation process revealed that in the face of changing market conditions the efficiency of mutual funds performance, regardless of their investment policies, was not significantly different or significantly worse than the results of the passive market portfolio. This phenomenon might be caused by possible lack of knowledge, information and skills of the fund managers or unreliable tools they were using.

Keywords: mutual funds; efficiency; financial market (search for similar items in EconPapers)
JEL-codes: G11 (search for similar items in EconPapers)
Date: 2014
References: View complete reference list from CitEc
Citations:

Downloads: (external link)
http://finanseiprawofinansowe.uni.lodz.pl/Publikacje/1/Jurek_Wasilewska.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ann:jofafl:v:1:y:2014:i:1:p:30-33

Access Statistics for this article

Journal of Finance and Financial Law is currently edited by Iwona Dorota Czechowska

More articles in Journal of Finance and Financial Law from University of Lodz, Faculty of Economics and Sociology, Faculty of Law and Administration Contact information at EDIRC.
Bibliographic data for series maintained by Journal of Finance and Financial Law Editors ().