Performance appraisal of Croatian mandatory pension funds

Pierre Matek (), Marko Lukaè () and Vedrana Repac ()
Additional contact information
Pierre Matek: Croatian Financial Services Supervisory Agency
Marko Lukaè: University College EFFECTUS – College for Finance and Law, http://effectus-uciliste.eu/
Vedrana Repac: University College EFFECTUS – College for Finance and Law, http://effectus-uciliste.eu/

FIP - Journal of Finance and Law, 2015, vol. 4, issue 1, 7-30

Abstract: The goal of this paper is to determine whether managers of Croatian mandatory pension funds have displayed investment skill on a risk-adjusted basis during the 2005-2014 period. We have calculated various risk-adjusted investment performance measures and have then used a number of statistical tools to test the significance of the results. Evidence from our analysis suggests that Croatian mandatory pension funds have reached their investment targets in terms of risk-free rates or benchmarks. Evidence of investment skill was found in some of the funds analysed.

Keywords: pension funds; risk-adjusted return; performance appraisal (search for similar items in EconPapers)
JEL-codes: G11 G18 G19 G23 (search for similar items in EconPapers)
Date: 2015
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://effectus-uciliste.hr/images/fip_v4i1/1_Performance_appraisal.pdf
no

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:eff:journl:v:4:y:2015:i:1:p:7-30

Ordering information: This journal article can be ordered from
10000

Access Statistics for this article

FIP - Journal of Finance and Law is currently edited by Mira Lenardic

More articles in FIP - Journal of Finance and Law from Effectus - University College for Law and Finance 10000. Contact information at EDIRC.
Bibliographic data for series maintained by Neven Vidakovic ( this e-mail address is bad, please contact ).