scholarly journals Investment funds as a form of effective pension protection in an aging society

2020 ◽  
Vol 195 (1) ◽  
pp. 171-182
Author(s):  
Agnieszka Parkitna ◽  
Małgorzata Pol ◽  
Rafał Miśko ◽  
Marzena Pura
Keyword(s):  
Standard Deviation ◽  
Mutual Funds ◽  
Stock Exchange ◽  
Test Sample ◽  
Rate Of Return ◽  
Rates Of Return ◽  
Investment Funds ◽  
Aging Society ◽  
Independent Analysis ◽  
Selection Of

The article aimed to analyze the effectiveness of investment funds and to create a ranking of investment funds with the highest economic efficiency. The scope of selection of the test sample is presented. The effectiveness of investment funds was assessed using various measures of their assessment. Comparing the obtained rates of return and risk, measured with a standard deviation, with the rate of return from the stock exchange, the most profitable funds were selected. As a result, it has been shown that the desire to invest in mutual funds does not have to end with investing in those that seem viable, but independent analysis can be done.

scholarly journals Study of Investors’ Preference for the Selection of an Insurance Product

2021 ◽  
Vol 11 (4) ◽  
Author(s):  
Pradnya Gugale ◽  
Vedashree Mali
Keyword(s):  
Life Insurance ◽  
Test Sample ◽  
Primary Data ◽  
Insurance Policy ◽  
Related Factors ◽  
Statistical Tool ◽  
Investment Funds ◽  
Innovative Products ◽  
Study Zone ◽  
Selection Of

Human Being’s life is the most significant asset and life-insurance is the most significant sort of insurance which gives financial protection to theindividualhimself/herself and to his family at the hour of dubious dangers or harm. Life insurance gives both safety and protection to people and furthermore encourages investment funds among individuals. The present exploratory based investigation was chosen with a target to analyze those factors which impact client’s strategy purchasing choice and furthermore examine the inclinations of clients while making decision about insurance policy investment. Different insurance-related factors have been examined in the paper. Also, the said study has been conducted to know the satisfaction level of the clients and also to know the benefit they have been receiving from the company (if any). The information for the research has been gathered from primary data. The study zone is restricted to Maharashtra state and the test sample is 30 investors. The hypotheses have been based on the basis of demographic and the factors related to the insurance-based preference.factors and tested the same with the help of statistical tool T-test. The analyzed data had been produced in the form of a tables and graphs/charts. Insurance agencies should spread more awareness about life insurance, a decrease in the premium amount, and giving more attention to need-based innovative products are a portion of the recommendations which I would suggest. The paper closes with the segment that factors of the individuals play a significant and essential role in choosing the purchase of insurance policies.

Tingkat Pengembalian (Return), Risiko, dan Koefisien Variasi pada Saham Syariah dan Saham Nonsyariah

2018 ◽  
Vol 1 (2) ◽  
pp. 171
Author(s):  
Sofyan Hadinata
Keyword(s):  
Coefficient Of Variation ◽  
Stock Exchange ◽  
Quantitative Approach ◽  
Rate Of Return ◽  
Purposive Sampling ◽  
Selection Of

The purpose of this study is to analyze the differences in the rate of return, risk, and coefficient of variation between sharia shares and non-sharia shares. This study uses a quantitative approach with the Mann-Whitney U Test. The population of this study is companies listed on the Indonesia Stock Exchange in 2017. Sharia shares refer to companies that listed in the Jakarta Islamic Index (JII) in the period 2017. The selection of samples uses purposive sampling. There are 24 sharia shares issuers, while non-Islamic shares are 8 issuers. The results of the study show that there is no difference in the level of weekly returns between sharia and non-sharia shares. As for the risks and the coefficient of variation statistically there is a difference between sharia shares and non-sharia shares

scholarly journals Dividend Aristocrats – A Comparative Analysis of Polish and American Dividend Companies During the Period of 2009–2017

2020 ◽  
Vol 20 (1) ◽  
pp. 190-205
Author(s):  
Bartłomiej Jabłoński
Keyword(s):  
Growth Rate ◽  
Comparative Analysis ◽  
Standard Deviation ◽  
Stock Exchange ◽  
Rate Of Return ◽  
Average Annual Rate ◽  
Dividend Payments ◽  
Statistical Measures ◽  
Similarities And Differences ◽  
Dividend Growth

AbstractResearch background: This article describes the issue of dividend companies that are components of the WIG index and S&P 500 during the period 2009–2017.Purpose: The aim of the study was to identify similarities and differences in dividend payments by issuers during the period 2009–2017.Research methodology: It describes the assessment of investments in companies on the basis of the continuity and variability of dividends paid (taking into account the rate of dividend growth and the cumulated rate of dividends, statistical measures – median and standard deviation), as well as the comparison of issuers from the Polish and US stock exchange.Results: The results of the study confirm the existence of differences in dividend pay-outs by companies listed on both exchanges.Novelty: First of all, Polish dividend companies are characterised by a higher average annual dividend growth rate and an average annual rate of return. What is more important, the average accumulated dividend (as well as its median) of companies from the WIG index is higher than the same group of companies belonging not only to the S&P 500 index companies, but also to American dividend aristocrats.

scholarly journals ANALISIS PERBANDINGAN RETURN DAN RISK (STUDI PADA SAHAM SYARIAH DAN SAHAM KONVENSIONAL LQ45 PERIODE (2012-2016)

2017 ◽  
Vol 5 (1) ◽  
pp. 33
Author(s):  
Muammar Khaddafi ◽  
Ferdiansyah Ferdiansyah
Keyword(s):  
Mutual Funds ◽  
Stock Exchange ◽  
T Test ◽  
Stock Index ◽  
Rate Of Return ◽  
Purposive Sampling ◽  
Significant Difference

This study aims to analyze the comparison of Return  and Risk study in syariah Stocks and convensional stocks LQ45 Indeks in companies listed on the Indonesia Stock Exchange by using Purposive Sampling by comparing the rate of return and risk of these shares. The method used is the Independent Sample T-test and comparing the performance of mutual funds using the Jensen Test during the period 2012-2016,  the results showed that there was no significant difference between the rate of return and risk of the Syariah Stock and Conventional Stock Index during the 2012-2016 period.

scholarly journals Liquidity and solvency of a company and the rate of return – an analysis of the Warsaw Stock Exchange

2020 ◽  
Vol 6 (53) ◽  
pp. 199-220
Author(s):  
Justyna Zalewska ◽  
Natalia Nehrebecka
Keyword(s):  
Least Squares Method ◽  
Stock Exchange ◽  
Financial Ratios ◽  
Rate Of Return ◽  
Rates Of Return ◽  
Developed Country ◽  
Return On Equity ◽  
Warsaw Stock Exchange ◽  
Capm Model ◽  
The Impact

AbstractThe purpose of the article is to analyse the impact of various financial ratios used to evaluate a company’s liquidity and solvency on the rates of return on the shares of companies listed on the Warsaw Stock Exchange. In the context of developing countries, the relationship between liquidity and solvency on the one hand and the return on equity on the other is still not clear. Poland is the most economically developed country in Central and Eastern Europe. A thorough analysis is necessary to take appropriate action and introduce adequate regulations in the country, as well as to create the foundation for researching other economies in this region. In addition, this article includes new estimators that have not yet been taken into account but that may affect the rates of return, which will contribute to the literature on the subject and to the development of knowledge on the volatility of returns on shares. In the study, we have calculated the time-varying beta coefficients of the capital asset pricing model (CAPM) model and analysed portfolios based on three liquidity ratios and four solvency ratios, which were computed using the CAPM, Fama–French and Carhart models. The empirical study described in the article focuses on companies listed on the Warsaw Stock Exchange in the period from 1 January 1999 to 30 June 2013. Regressions were estimated by the least-squares method and by quantile regression. Based on the results, it was found that listed companies at risk of bankruptcy are able to meet their short-term liabilities. Liquidity and solvency measured by financial ratios significantly affect the sensitivity of the rate of return on shares to the risk factors expressed in the CAPM, Fama––French and Carhart models.

scholarly journals The relation between management fees and the mutual funds` performance in Poland in 2015

2018 ◽  
Vol 9 (2) ◽  
pp. 245-259
Author(s):  
Alicja Fraś
Keyword(s):  
Mutual Funds ◽  
Value Added ◽  
Factor Models ◽  
Rate Of Return ◽  
Rates Of Return ◽  
Independent Variables ◽  
Management Fees ◽  
Time Horizons ◽  
Yearly Period ◽  
Better Than

Research background: The investor`s expectation of better performance in the case of more expensive mutual funds seems natural and fully justified. However, the rise of passive funds and their surprisingly good results, especially when taking into account their low fees, triggered the discussion. Recent years have brought more and more studies, conducted mostly for the American market, discrediting high-charging, aggressive funds. First analyses in Poland also indicate that the level of fees is not always linked with the fund’s performance. Purpose of the article: The purpose of the study is to investigate the relation be-tween the fees imposed by the mutual funds and the funds` performance. The idea is to verify, whether higher management fees are associated with top performance and whether it is rational to pay more for capital management. Methods: In the first step of the study, linearity and direction of the dependency was explored, using scatterplots and correlation analysis. In the second part, the linear regression was created to verify the strength of the relation. One-factor models have been built with the rate of return and standard deviation as independent variables for 1-, 3- and 5-year time horizons. Moreover, two-factor models, including both rate of return and risk has been created, to compare the significance of return and risk factor. Findings & Value added: The results indicated that more expensive Polish mutual funds in 2015 tended to perform worse in all tested time horizons — both in terms of lower rates of return and higher risk. Especially unexpected are the results of rates of return regression analysis — it turns out that within a sample 1% higher fee implied over 0.6% lower rate of return before fees (in yearly period). Nonetheless, the risk turned out to be more important, explaining the charges variability much better than the rate of return. Another interesting finding of the study is that merely two simple factors (return and risk) explain even as much as 60% of the management fee variability.

STRATEGI GERILYA DALAM MENGGUGAH KESADARAN MASYARAKAT ATAS INSTRUMEN INVESTASI PADA PRODUK PASAR MODAL SYARIAH KHUSUSNYA REKSA DANA SYARIAH

2019 ◽  
Vol 2 (2) ◽  
Author(s):  
Sri Anugrah Natalina
Keyword(s):  
Mutual Funds ◽  
Portfolio Management ◽  
Capital Market ◽  
Mutual Fund ◽  
Supervisory Board ◽  
Investment Portfolio ◽  
Investment Funds ◽  
Implementation Evaluation ◽  
Investment Patterns ◽  
Selection Of

Indonesia's financial market is a potential target, because there are still many Indonesian who in their investment patterns do not reflect the diversity and choice of modern investment instruments. This becomes a "homework" to be completed. The maximum absorption of investment funds from Indonesian society that is still conventional can "excite" the capital market again. Shariah mutual funds have a special appeal compared to other types of mutual funds. Shariah mutual funds are currently not limited to Muslims because the general public, who have seen the benefits of investment based on the selection of sector and company with certain criteria, are more promising and minimize risk. Investment portfolio management works based on the framework for investment management which covers the process of planning, implementation, evaluation and adjustment. In mutual funds, investment managers are responsible for investment activities, which include analysis and selection of investment types, and taking necessary actions for the benefit of investors. If there is a problem in the future and the investor wants to change the form of his investment, then he can do the resale of the Shariah mutual fund shares to the mutual fund company where he invests. The Shariah Supervisory Board oversees the transactions of Mutual Fund issuing companies, because the halal returns / funds obtained through mutual funds depend heavily on investment activities carried out by investment managers. The advantage of investing in Shari'ah mutual funds is that it can be done in retail so that the initial investment can be adjusted to financial capability and its value is small. Other benefits include the relatively higher yield of deposits and tax free, as well as the existence of routine audits and supervision by the Shariah Supervisory Board (DPS). Key words: Syariah Mutual Funds, Portfolio Management, Shariah Supervisory Board

scholarly journals Comparing Performance of Equity, Balanced and Debt Mutual Funds – Empirical evidences from India

2019 ◽  
Vol 8 (9) ◽  
pp. 2167-2176
Keyword(s):  
Standard Deviation ◽  
Mutual Funds ◽  
The Other ◽  
Single Factor ◽  
Expected Return ◽  
Risk Appetite ◽  
Equity Funds ◽  
Time Periods ◽  
The Given ◽  
Selection Of

In India, one of the broad categorizations of mutual funds is as - equity, balanced, and debt funds, each catering to specific expected return and risk-appetite of investors. Further, it is generally believed that among the aforesaid three categories of funds, Equity funds provide highest returns, followed by balanced funds and debt funds in the given order. However, the risk involved in equity funds is also the higher as compared balanced and debt funds. This paper attempts to empirically compare the returns and risk involved in the aforesaid three broad categories of mutual funds operating in the India over three, five, and ten years time periods. For this, we select three independent samples (of size 60) in each category, namely, equity, balanced, and debt fund. Selection of funds in each category is as per researcher defined criteria. The data on selected schemes is collected from the databases of ‘Value Research India Private Limited’, and AMFI. Measures like annualized returns, standard deviation of returns, Sharpe ratio, and expense ratio are employed to compare the three categories. Hypotheses tests are performed employing single factor ANOVA and Tukey’s HSD test. Based on the evidence gathered, it is observed that over all the three chosen time durations, equity funds have on an average provided superior returns than balanced and debt funds, however, equity funds were also observed to be much more risky than the balanced and debt funds. Therefore for investors ready to take risks in lieu of higher returns, equity funds should be chosen. On the other hand investors who want to play safe with their investments, either balanced or debt funds should be their investment avenues

scholarly journals Financial performance of investment funds as members of Tehran stock exchange

2015 ◽  
Vol 3 (2) ◽  
pp. 105
Author(s):  
Marzieh Jamdar
Keyword(s):  
Financial Performance ◽  
Mutual Funds ◽  
Significant Relationship ◽  
Stock Exchange ◽  
Portfolio Theory ◽  
Performance Rating ◽  
Investment Funds ◽  
Modern Portfolio Theory ◽  
Asset Value

<p>In this research, the financial performance of investment funds as members of Tehran Stock Exchange was measured based on the Modern Portfolio Theory (MPT) measures including Sharpe's, Jensen's, Treynor's and Modigliani's measures. The performance rating of investments was also compared based on the above measures and the relation of any fund's rank with the related measures was examined. Overall, 32 mutual funds were evaluated during 2011-12. The results showed that the net growth percentage of any in-vestment unit's asset value is directly and strongly related to the growth percentage of Sharpe's, Jensen's and Modigliani's measures, but the net growth percentage of any investment unit's asset value is weakly and inversely related to Treynor's measure. The funds' ranks were not also the same based on the abovementioned measures, but there is only a significant relationship between their ranks.</p>

scholarly journals The relation between management fees and the mutual funds` performance in Poland in 2015

2018 ◽  
Vol 9 (2) ◽  
pp. 245-259
Author(s):  
Alicja Fraś
Keyword(s):  
Mutual Funds ◽  
Value Added ◽  
Factor Models ◽  
Rate Of Return ◽  
Rates Of Return ◽  
Independent Variables ◽  
Management Fees ◽  
Time Horizons ◽  
Yearly Period ◽  
Better Than

Research background: The investor`s expectation of better performance in the case of more expensive mutual funds seems natural and fully justified. However, the rise of passive funds and their surprisingly good results, especially when taking into account their low fees, triggered the discussion. Recent years have brought more and more studies, conducted mostly for the American market, discrediting high-charging, aggressive funds. First analyses in Poland also indicate that the level of fees is not always linked with the fund’s performance. Purpose of the article: The purpose of the study is to investigate the relation be-tween the fees imposed by the mutual funds and the funds` performance. The idea is to verify, whether higher management fees are associated with top performance and whether it is rational to pay more for capital management. Methods: In the first step of the study, linearity and direction of the dependency was explored, using scatterplots and correlation analysis. In the second part, the linear regression was created to verify the strength of the relation. One-factor models have been built with the rate of return and standard deviation as independent variables for 1-, 3- and 5-year time horizons. Moreover, two-factor models, including both rate of return and risk has been created, to compare the significance of return and risk factor. Findings & Value added: The results indicated that more expensive Polish mutual funds in 2015 tended to perform worse in all tested time horizons — both in terms of lower rates of return and higher risk. Especially unexpected are the results of rates of return regression analysis — it turns out that within a sample 1% higher fee implied over 0.6% lower rate of return before fees (in yearly period). Nonetheless, the risk turned out to be more important, explaining the charges variability much better than the rate of return. Another interesting finding of the study is that merely two simple factors (return and risk) explain even as much as 60% of the management fee variability.

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