Analiza stóp zwrotu i ryzyka polskich funduszy akcji
Analysis of returns and risk of Polish equity mutual funds

Summary/Abstract: This paper analyzes equity mutual fund returns, covering the period from 1999 to 2009. The analysis of these data shows that actively managed equity mutual funds do not outperform comparable benchmark index (WIG). The average equity mutual fund underper¬forms the WIG index. The analysis of linear dependence between risk and rate of returns on equity mutual funds indicates the lack of substantial relationship. Moreover, the study pre¬sents the inconsistency of performance. Past mutual fund returns do not predict future returns.

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