Polish Absolute Return Funds And Stock Funds. Short And Long Term Performance Comparison
In this paper I focus on analyzing whether Polish absolute return funds, which I call quasi-hedge funds, add value to a portfolio of an individual investor by reaching higher returns than Polish stock funds. I use a sample of 25 Polish absolute return investment funds to contrast their short and lon...
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| Format: | Article |
| Language: | English |
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Sciendo
2014-12-01
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| Series: | Folia Oeconomica Stetinensia |
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| Online Access: | https://doi.org/10.1515/foli-2015-0016 |
| _version_ | 1818670368440713216 |
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| author | Perez Katarzyna |
| author_facet | Perez Katarzyna |
| author_sort | Perez Katarzyna |
| collection | DOAJ |
| description | In this paper I focus on analyzing whether Polish absolute return funds, which I call quasi-hedge funds, add value to a portfolio of an individual investor by reaching higher returns than Polish stock funds. I use a sample of 25 Polish absolute return investment funds to contrast their short and long term performance, measured by Sharpe, Sortino and Jensen ratios, to the short and long term performance of 20 biggest Polish stock funds and build rankings based on that performance. Later I build funds of funds (with a different number of stock funds and/or quasi-hedge funds) and check which of them is the most efficient. I find out that in both short and long term Polish quasi-hedge funds have better returns than stock funds and they add much value to the investors’ portfolios. It can be explained by the fact that they are much smaller and younger than traditional funds, so they have much higher potential to grow and reach abnormal returns. |
| first_indexed | 2024-12-17T07:07:00Z |
| format | Article |
| id | doaj.art-8d88ae35a942459b8bfa9dc63a921ad3 |
| institution | Directory Open Access Journal |
| issn | 1898-0198 |
| language | English |
| last_indexed | 2024-12-17T07:07:00Z |
| publishDate | 2014-12-01 |
| publisher | Sciendo |
| record_format | Article |
| series | Folia Oeconomica Stetinensia |
| spelling | doaj.art-8d88ae35a942459b8bfa9dc63a921ad32022-12-21T21:59:08ZengSciendoFolia Oeconomica Stetinensia1898-01982014-12-0114217919710.1515/foli-2015-0016Polish Absolute Return Funds And Stock Funds. Short And Long Term Performance ComparisonPerez Katarzyna0Poznan University of Economics, Theory of Money and Monetary Policy Department, Al. Niepodległości 10, 61-875 Poznań, PolandIn this paper I focus on analyzing whether Polish absolute return funds, which I call quasi-hedge funds, add value to a portfolio of an individual investor by reaching higher returns than Polish stock funds. I use a sample of 25 Polish absolute return investment funds to contrast their short and long term performance, measured by Sharpe, Sortino and Jensen ratios, to the short and long term performance of 20 biggest Polish stock funds and build rankings based on that performance. Later I build funds of funds (with a different number of stock funds and/or quasi-hedge funds) and check which of them is the most efficient. I find out that in both short and long term Polish quasi-hedge funds have better returns than stock funds and they add much value to the investors’ portfolios. It can be explained by the fact that they are much smaller and younger than traditional funds, so they have much higher potential to grow and reach abnormal returns.https://doi.org/10.1515/foli-2015-0016absolute return fundsquasi-hedge fundsfund performanceportfolio efficiencypolandg11g23 |
| spellingShingle | Perez Katarzyna Polish Absolute Return Funds And Stock Funds. Short And Long Term Performance Comparison Folia Oeconomica Stetinensia absolute return funds quasi-hedge funds fund performance portfolio efficiency poland g11 g23 |
| title | Polish Absolute Return Funds And Stock Funds. Short And Long Term Performance Comparison |
| title_full | Polish Absolute Return Funds And Stock Funds. Short And Long Term Performance Comparison |
| title_fullStr | Polish Absolute Return Funds And Stock Funds. Short And Long Term Performance Comparison |
| title_full_unstemmed | Polish Absolute Return Funds And Stock Funds. Short And Long Term Performance Comparison |
| title_short | Polish Absolute Return Funds And Stock Funds. Short And Long Term Performance Comparison |
| title_sort | polish absolute return funds and stock funds short and long term performance comparison |
| topic | absolute return funds quasi-hedge funds fund performance portfolio efficiency poland g11 g23 |
| url | https://doi.org/10.1515/foli-2015-0016 |
| work_keys_str_mv | AT perezkatarzyna polishabsolutereturnfundsandstockfundsshortandlongtermperformancecomparison |