Title: The performance of equity mutual funds in Poland

Authors: Katerina Lyroudi, Agnieszka Pazgier, Anna Kielbasa

Addresses: University of Macedonia, 156 Egnatia Street, 54006 Thessaloniki, Greece. ' University of Lodz, 3/5 POW Street, 90 255 Lodz, Poland. ' University of Lodz, 3/5 POW Street, 90 255 Lodz, Poland

Abstract: This paper investigates the performance of equity mutual funds in Poland, by determining the indices of Sharpe, Treynor and Jensen|s Alpha for each fund and for the market index WIG for the period 2004-2007. Our results indicated that the funds performed very well in 2005. However during the next two years and especially in 2007, the performance decreased significantly. Probably, the real estate and mortgage crisis in the USA and the European markets, as well as the oil price increase affected all the economies worldwide, including Poland.

Keywords: equity mutual funds; performance measures; Poland.

DOI: 10.1504/IJCSE.2010.030228

International Journal of Computational Science and Engineering, 2010 Vol.5 No.1, pp.35 - 49

Published online: 11 Dec 2009 *

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