INVESTMENT FUNDSâ€(tm) PERFORMANCE AND ECONOMIC GROWTH
AbstractIn this paper we examine the performance of investment funds during the period 2006-2010, intending to comprise the portfolio performanceâ€(tm)s dynamics before, during and after the present economic and financial crises climax. We categorize investment funds according to their investment strategy and geographical focus and distinguish a number of 11 classes. In order to analyze their returnsâ€(tm) dynamics, we create a fund performance index for each category using principal components method. The instability created in financial system in 2007 had a direct impact on institutional investorsâ€(tm) portfolios regardless of investment strategy, effects that have rapidly propagated on real economy. Analyzing indexâ€(tm)s dynamics correlated with economic growth we conclude that financial and economic environment react in the same direction, but with a certain time delay, to instability factors. We also underline the major impact of boom and bust evolution of financial markets on real economy, cause of the current economic and financial crises.
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Bibliographic InfoArticle provided by University of Oradea, Faculty of Economics in its journal The Journal of the Faculty of Economics - Economic.
Volume (Year): 1 (2012)
Issue (Month): 1 (July)
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Postal: Universitatii str. 1, Office F209, 410087 Oradea, Bihor
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investment funds; portfolio performance; economic growth; crises; investment strategy;
Find related papers by JEL classification:
- G20 - Financial Economics - - Financial Institutions and Services - - - General
- G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
- G29 - Financial Economics - - Financial Institutions and Services - - - Other
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