An examination of Turkish equity pension funds for selectivity and market timing performance
by Ali Osman Gurbuz; Yusuf Ayturk
International Journal of Financial Services Management (IJFSM), Vol. 5, No. 4, 2012

Abstract: This paper investigates market timing and selectivity performance of equity pension funds in Turkey over the period of March 2006-February 2011. Single index model is used to test the ability of selecting financial assets correctly and Quadratic Treynor-Mazuy (TM) and Henriksson-Merton (HM) models are used to test the market timing ability of equity pension fund managers. The results of this paper prove that Turkish equity pension fund managers do not have consistent and superior market timing and selectivity abilities over the period of March 2006-February 2011. The results of this study should be of interest to individual investors seeking to maximise value of their pension plans.

Online publication date: Fri, 31-Aug-2012

The full text of this article is only available to individual subscribers or to users at subscribing institutions.

 
Existing subscribers:
Go to Inderscience Online Journals to access the Full Text of this article.

Pay per view:
If you are not a subscriber and you just want to read the full contents of this article, buy online access here.

Complimentary Subscribers, Editors or Members of the Editorial Board of the International Journal of Financial Services Management (IJFSM):
Login with your Inderscience username and password:

    Username:        Password:         

Forgotten your password?


Want to subscribe?
A subscription gives you complete access to all articles in the current issue, as well as to all articles in the previous three years (where applicable). See our Orders page to subscribe.

If you still need assistance, please email subs@inderscience.com