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FIP - journal of finance and law, Vol. 4 No. 1, 2016.

Original scientific paper

Performance appraisal of Croatian mandatory pension funds

Matek Petar Pierre orcid id orcid.org/0000-0003-0152-6920
Marko Lukač orcid id orcid.org/0000-0002-2155-5422 ; University College EFFECTUS - College for Finance and Law
Vedrana Repač ; University College EFFECTUS - College for Finance and Law

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Abstract

The goal of this paper is to determine whether managers of Croatian
mandatory pension funds have displayed investment skill on a risk-adjusted basis during
the 2005-2014 period. We have calculated various risk-adjusted investment performance
measures and have then used a number of statistical tools to test the significance of the
results. Evidence from our analysis suggests that Croatian mandatory pension funds have
reached their investment targets in terms of risk-free rates or benchmarks. Evidence of
investment skill was found in some of the funds analysed.

Keywords

pension funds; risk-adjusted return; performance appraisal

Hrčak ID:

156890

URI

https://hrcak.srce.hr/156890

Publication date:

1.3.2016.

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