Izvorni znanstveni članak

Performance appraisal of Croatian mandatory pension funds

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

Sažetak

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.

Ključne riječi

pension funds; risk-adjusted return; performance appraisal

Hrčak ID:

156890

URI

https://hrcak.srce.hr/156890

Datum izdavanja:

1.3.2016.

Posjeta: 1.555 *