Analiza wyników osiąganych przez otwarte fundusze inwestycyjne

TL;DRAbstract

The aim of this paper is the analysis of the degree of stability of mutual funds performance (diversification between the funds' positions in various rankings in terms of the return rates achieved in the years 1998–2007). The attempt of evaluating the changes that have taken place in the analyzed period of time was also made. The authors used the Kendall's and Babington-Smith's ratio and Spearman's rank correlation ratio for this purpose. The survey took up 101 open investment funds and specialized open funds functioning on the Polish capital market in the years 1998–2007. The evaluation indicated that even the most successful funds managers were not able to achieve stable above-average performance and maintain it for a long time. The rankings analysis revealed that none of the Polish investment funds systematically generated results better than those achieved by other professional investors or relevant benchmarks. A significant variability of the return rates was observed in the diffe

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