Siyaset Ekonomi ve Yönetim Araştırmaları Dergisi

Yazarlar: Fatih Burak GÜMÜŞ, Kerem ÜNGİR

Konular:-

Anahtar Kelimeler:Mutual Funds,Effective Market Theory,Performance Analysis

Özet: The aim of the study is to measure performance of Turkish mutual funds being traded in the Turkish Capital Market by the end of the year 2013. The study begins with creating A type investment portfolio consisting of 13 A type mutual funds, B type investment portfolio consisting of 13 B type mutual funds and variable portfolio consisting of 13 variable mutual funds. The mutual funds are selected among leading and high volume traded mutual funds. There exists many methods to measure performance of mutual funds. While Sortino ratio, Sharpe ratio and T2 indicator are among the methods based on total risk, Treynor ratio, Jensen alpha and M2 indicator are among the methods based on systematic risk. These methods are employed to measure performance of the market and three portfolios above. Research period is the years between 2008 and 2012. Aforementioned methods are employed on three type mutual funds within five years period between years of 2008-2012. As a result of the study, it is found out that there is similarities between performance results of portfolios and the variation course

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