Analiza polityki inwestycyjnej otwartych funduszy emerytalnych w Polsce w latach 2001–2009. Ocena stylu zarządzania przy braku zewnętrznych benchmarków

• Authors: Grzegorz Prosowicz

Title variants

EN

ANALYSIS OF PENSION FUNDS INVESTMENT POLICY IN POLAND FROM 2001 TO 2009. AN ASSESSMENT OF INVESTMENT STYLE IN THE ABSENCE OF EXTERNAL BENCHMARKS

• Languages of publication: PL

Abstracts

EN

This study attempts to explain the essence of active management and highlights trends in the investment policy of open pension funds from 2001 to 2009 in Poland. An analysis of pension fund investments leads to the conclusion that the pension fund industry is moving towards a passive management model. The results of the study produced no evidence that any of the funds could significantly beat the market average or the main stock index, nor did analysis of result repeatability bear out the existence of extraordinary skill among pension fund managers.

Keywords

EN

ASSET ALLOCATION; PORTFOLIO MANAGEMENT; ACTIVE MANAGEMENT; PERFORMANCE MEASUREMENT; INVESTMENT STYLE

• Publisher: Wydawnictwo Uniwersytetu Ekonomicznego w Krakowie
• Journal: Zeszyty Naukowe Uniwersytetu Ekonomicznego w Krakowie
• Year: 2011
• Issue: 875
• Pages: 115-130

Contributors

author

Grzegorz Prosowicz

• Comarch SA, al. Jana Pawła II 39A, 31-864 Kraków, Poland