PERFORMANCE EVALUATION OF THE MUTUAL FUNDS IN TURKEY BASED ON THE RETURNS
TÜRKİYE’DE YATIRIM FONLARININ GETİRİYE DAYALI PERFORMANS DEĞERLEMESİ

Author : Ufuk ALKAN -- Bülent KUŞAKSIZOĞLU
Number of pages : 297-320

Abstract

Mutual funds are the financial instruments which play an important role during the growth of capital and which helps decreasing of the risks by giving priority to the diversity of the portfolios. As it is in today’s world economy, the mutual funds market within Turkey has been exhibiting a significant development during the recent period and therefore, gains an importance for the financial markets, as well. With the development of the mutual funds which are having a significant share within the Turkish economy, the numbers of the investors and the size of portfolios have also been increased with a great speed and the numbers of the funds were also increased. Consequently, it becomes a necessity to evaluate the performance of the mutual funds due to the said increase on the funds, investor numbers and portfolio sizes. The purpose of this study is to review the development process of the mutual funds within the Turkish capital market and to measure their performance values. In this context, the performance measurement techniques such as Sharpe Treynor and Sortino were used and the top 10 mutual funds in terms of their portfolio sizes within Turkey during the years of 2013-2016 were evaluated. As a result, it is set forth that YAS and AYA named mutual funds had more market returns, when compared with other mutual funds.

Keywords

Mutual Fund, Performance Evaluation, Capital Markets, Portfolio Management

Read: 908

Download: 248