Open AccessThe effectiveness of capital management strategies used by the investment funds in Poland
Author(s) -
Paweł Trippner
Publication year - 2014
Publication title -
przedsiębiorczość i zarządzanie
Language(s) - English
Resource type - Journals
eISSN - 2543-8190
pISSN - 1733-2486
DOI - 10.2478/eam-2014-0021
Subject(s) - financial intermediary , investment (military) , business , finance , global assets under management , umbrella fund , fund of funds , intermediary , institutional investor , open ended investment company , capital (architecture) , investment strategy , investment management , financial market , capital market , return on investment , financial system , economics , market liquidity , production (economics) , microeconomics , archaeology , politics , political science , law , history , corporate governance
Collective investors play an extremely important role in the financial system of the state and in the economy. They operate in the financial market as institutions that enable households and businesses to convert savings into investments. Investment funds are the most conventional institutions which are dealing with financial intermediation. The main purpose of the submitted paper is to characterise the essence of investment funds operation in the role as financial intermediaries, to present the investment strategies and to characterise the methodology for measuring the effectiveness of capital management entrusted by the clients. The author has formulated a research hypothesis, according to which, the strategies of capital location policy used by the investment funds have an impact on the level of their performance, while funds holding higher risk portfolios perform better compared to the funds using passive investment strategies