Yıl 2018, Cilt 2, Sayı 2, Sayfalar 50 - 73 2018-05-31

Performance Measurement Of Pension Investment Funds in Turkey: Comparing Performance Of Traditional And Islamic Pension Investment Funds

Mustafa UYSAL [1] , Zafer ADALI [2]

13 19

Pension mutual funds are crucial instruments that boost investment activities. In this way they can make a significant contribution to meeting the resources needed by the country economies. In this paper, at the first stage it has been tried to gauge the performance of 26 share based pension funds operating in Turkey during the period between June 2014 and October 2014 and the timing ability of fund managers. Secondly, the performance of Islamic pension mutual funds which are formed in accordance with Shariah Law and traditional pension mutual funds, has been compared. For this purpose, weekly data of funds has been analyzed by Sharpe and M2 based on standard deviation, and Treynor, T2, Jensen based on systemic risk. According to the results, both fund group generally performed very well and fund managers of them succeeded in market timing strategies. It is also seen that Islamic pension funds displayed lower performance than traditional ones.
Pension Mutual Fund, Islamic Investment Fund, Performance Measurement
  • Abdullah, F., Hassan, T. ve Mohammad, S. (2007), “Investigation of Performance of Malaysian Islamic Unit Trust Funds: Comparison With Conventional Unit Trust Funds”, Managerial Finance, 33(2), s.142-153.Aksoy, Emine Ebru (2014), Uluslararası Portföy Yönetimi, 1. Baskı, Detay Yayıncılık, Ankara.Albaity, M. ve Mudor, H. (2012), “Return Performance, Cointegration And Short Run Dynamics of Islamic And Non-Islamic Indices: Evidence from the U.S. and Malaysia During the Subprime
Birincil Dil en
Konular Ekonomi ve İşletme
Yayımlanma Tarihi May
Dergi Bölümü Makaleler
Yazarlar

Yazar: Mustafa UYSAL (Sorumlu Yazar)
E-posta: muysal@artvin.edu.tr
Ülke: Turkey


Yazar: Zafer ADALI
E-posta: zaferadali@artvin.edu.tr
Ülke: Turkey


Bibtex @araştırma makalesi { fsecon388772, journal = {Fiscaoeconomia}, issn = {}, address = {Ahmet Arif EREN}, year = {2018}, volume = {2}, pages = {50 - 73}, doi = {10.25295/fsecon.2018.02.004}, title = {Performance Measurement Of Pension Investment Funds in Turkey: Comparing Performance Of Traditional And Islamic Pension Investment Funds}, key = {cite}, author = {ADALI, Zafer and UYSAL, Mustafa} }
APA UYSAL, M , ADALI, Z . (2018). Performance Measurement Of Pension Investment Funds in Turkey: Comparing Performance Of Traditional And Islamic Pension Investment Funds. Fiscaoeconomia, 2 (2), 50-73. DOI: 10.25295/fsecon.2018.02.004
MLA UYSAL, M , ADALI, Z . "Performance Measurement Of Pension Investment Funds in Turkey: Comparing Performance Of Traditional And Islamic Pension Investment Funds". Fiscaoeconomia 2 (2018): 50-73 <http://dergipark.gov.tr/fsecon/issue/37017/388772>
Chicago UYSAL, M , ADALI, Z . "Performance Measurement Of Pension Investment Funds in Turkey: Comparing Performance Of Traditional And Islamic Pension Investment Funds". Fiscaoeconomia 2 (2018): 50-73
RIS TY - JOUR T1 - Performance Measurement Of Pension Investment Funds in Turkey: Comparing Performance Of Traditional And Islamic Pension Investment Funds AU - Mustafa UYSAL , Zafer ADALI Y1 - 2018 PY - 2018 N1 - doi: 10.25295/fsecon.2018.02.004 DO - 10.25295/fsecon.2018.02.004 T2 - Fiscaoeconomia JF - Journal JO - JOR SP - 50 EP - 73 VL - 2 IS - 2 SN - -2564-7504 M3 - doi: 10.25295/fsecon.2018.02.004 UR - http://dx.doi.org/10.25295/fsecon.2018.02.004 Y2 - 2018 ER -
EndNote %0 Fiscaoeconomia Performance Measurement Of Pension Investment Funds in Turkey: Comparing Performance Of Traditional And Islamic Pension Investment Funds %A Mustafa UYSAL , Zafer ADALI %T Performance Measurement Of Pension Investment Funds in Turkey: Comparing Performance Of Traditional And Islamic Pension Investment Funds %D 2018 %J Fiscaoeconomia %P -2564-7504 %V 2 %N 2 %R doi: 10.25295/fsecon.2018.02.004 %U 10.25295/fsecon.2018.02.004