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FIP - journal of finance and law, Vol.4 No.1 March 2016. -

The goal of this paper is to determine whether managers of Croatian

mandatory pension funds have displayed investment skill on a risk-adjusted basis during

the 2005-2014 period. We have calculated various risk-adjusted investment performance

measures and have then used a number of statistical tools to test the significance of the

results. Evidence from our analysis suggests that Croatian mandatory pension funds have

reached their investment targets in terms of risk-free rates or benchmarks. Evidence of

investment skill was found in some of the funds analysed.

pension funds; risk-adjusted return; performance appraisal



Autor: Matek Petar Pierre - orcid.org-0000-0003-0152-6920 Marko Lukač - orcid.org-0000-0002-2155-5422 ; University College EFFECTUS - C

Fuente: http://hrcak.srce.hr/



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