Αξιολόγηση των επιδόσεων των ελληνικών Α.Ε.Δ.Α.Κ.

Ασημακόπουλος, Παναγιώτης Ι.

Performance evaluation of the management of greek mutual funds

Master Thesis

Author

Ασημακόπουλος, Παναγιώτης Ι.

Date

2013-12-16

Abstract

The mutual funds managers try to form (and offer to investors) a vast variety of portfolios which are well diversified and, consequently, they optimize the risk-return relationship. However, numerous empirical studies have questioned their effectiveness, arguing that their performance is relatively poor, compared even to a simple buy-and-hold strategy. Within the framework of the present study, the performance of the mutual funds managers was evaluated by utilizing the relevant data of the Greek “mutual funds management companies”. After the application of the criteria of Sharpe, Treynor and Jensen, we reached the following conclusions: The managers of mutual funds that are classified in the first position based on the these benchmarks achieved in most cases higher performance than the market without being able to be a secure choice for investors in times of recession because of the correlation they have with the market.