Efektywność inwestycyjna polskich funduszy emerytalnych przy zmianie benchmarku rynkowego
The Investment Effectiveness of Polish Pension Funds During the Changes of Market Benchmark
Author(s): Dorota Żebrowska-Suchodolska, Andrzej KarpioSubject(s): National Economy, Economic policy, Transformation Period (1990 - 2010), Present Times (2010 - today), Financial Markets
Published by: Wydawnictwo Naukowe Uniwersytetu Marii Curie-Sklodowskiej
Keywords: open-end pension fund; investment effectiveness; pension funds’ ranking; persistence;
Summary/Abstract: The paper examines the investment effectiveness of open-end pension funds existing on the Polish capital market. Information Ratio and Sharpe-Israelsen’s indicators are considered to be the basis of assessment. In the paper, the market indicator was defined showing legislation limits put on open-end pension funds’ portfolios. The period 2008–2017 was divided into sub-periods, in each of these the rankings, based on both indicators, were obtained. Next, the stability of the market position of open-end pension funds was calculated in the successive years.
Journal: Annales Universitatis Mariae Curie-Skłodowska, Sectio H Oeconomia
- Issue Year: LI/2017
- Issue No: 5
- Page Range: 149-158
- Page Count: 10
- Language: Polish
