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Update of the Investment Portfolio of the Hedge Fund
Rybár, Tomáš ; Vavrinčík, Branislav (referee) ; Rejnuš, Oldřich (advisor)
The bachelor´s thesis focuses on the expansion of the investment portfolio of a hedge fund. The theoretical part specifies the concepts and legal regulation for the functioning of a hedge funds in the Czech Republic and the theoretical definition of financial analysis. The practical part defines the fund statute, fund strategy and management requirements. According to these criteria, companies are selected to be subjected to financial analysis, inter-company comparison and bankruptcy model. From the results, conclusions are drawn and custom recommendations are made to expand the fund's investment portfolio.
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Investing in Commodities through Futures Contracts
Králík, Patrik ; Bílek, Michael (referee) ; Rejnuš, Oldřich (advisor)
The diploma thesis focuses on the analysis and comparison of selected commodities in order to create an investment recommendation to diversify the hedge fund's equity portfolio. The theoretical part deals with issues related to the investment portfolio, commodities, trading through futures contracts and explains the applied analytical methods. In the practical part, commodities are first selected, which are then analyzed by selected methods and finally compared by a comparative method. The last part of the work contains, based on the results, a proposal to expand the investment portfolio and the process of making investments through commodity futures contracts.
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The role of depositary in the capital market
Fajmonová, Lenka ; Kohajda, Michael (advisor) ; Sejkora, Tomáš (referee)
1 The role of depositary in the capital market Abstract This thesis analyses current legislation regarding depositaries from the viewpoint of czech and european law. Taken into account are opinions from literature, commentaries of law, Czech central bank or Capital market Association of Czech republic. Legislation and opinions presented are evaluated, commented on and in some places an adjustment is suggested. In this thesis there is mainly used the linguistic, systhematic and historicaly-theological method. The first chapter deals with historical background of investment funds and depositaries and also with the influence the coupon privatisation had on today's capital market. Subsequent chapter is focused on investment funds, their types and related legislation and presents statistical data related to investment funds and depositaries. There is also a section dedicated to comparison of investment funds and depositaries in other european states. Third part of the thesis is dedicated to theoretical basis of depositary with the addition of practical examples of its duties and circumstances which can affect the way its duties are performed. Main emphasis is put on valuation of movable and immovable property and not only property commonly found in fund's portfolio, but even some specialized examples like...
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The IMF and its role in the Czech Republic and Hungary since 1989
Malešová, Jana ; Duršpek Raková, Marie (advisor) ; Parrák, Radovan (referee)
This thesis focuses on the International Monetary Fund. The first part consists of three chapters and it examines the Fund as a respected, yet disputes sparking institution. The first chapter describes the history of the Fund from its founding in Bretton Woods in 1944 to the recent financial crisis. The second chapter focuses on the Fund's operation nowadays. Information about special drawing rights, member quotas system, and about Fund's financial resources and their use can all be found there. Recent reforms and the organizational structure are also a part of the second chapter. The third chapter presents the main points of critique of the Fund. The second part of the thesis examines specific Fund activities in two central European countries with the focus on periods in which the Fund's assistance was the most significant. The fourth chapter concentrates on Fund operations in the Czech Republic after the membership resumption in 1990. The fifth chapter explains Fund activities in Hungary, which has been a member since 1982 but has drawn particular attention in recent years since the outburst of the financial crisis.
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IMF Quota Formula
Habalová, Veronika ; Parízek, Michal (advisor) ; Kučerová, Irah (referee)
The IMF has been facing criticism in recent years. Its legitimacy has been undermined as some members, despite their economic performance, are still underrepresented in IMF's decision making and its activities leave mixed evidence about their success. Being a crucial condition for institution's existence, legitimacy of the Fund's governance needs to be restored. This thesis tries to find such specification of formula, which would make allocation of votes more credible and fair. Based on the assumption that perception of the Fund's legitimacy would improve if developing countries were better represented and allocation of votes could not be subject to manipulation, a new procedure of vote allocation is designed. New formulas include population as one of the variables as a solution of the emerging powers' insufficient involvement. Using principal components analysis allows automatic assignment of weights, which results in more objective mechanism of votes allocation. As there is a significant discrepancy between voting weights and actual voting power measured by Banzhaf index, also formulas incorporating power indices are investigated. Based on quantitative and qualitative criteria, these four different mechanisms are assessed. Thesis concludes that any of these formulas would be an improvement in comparison...
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Proposal to Extend the Investment Portfolio of the Hedge Fund
Zapula, Pavel ; Brauner, Roman (referee) ; Rejnuš, Oldřich (advisor)
The bachelor's thesis focuses on the development of a proposal to expand the investment portfolio of hedge fund according to the requirements of management. The theoretical part presents selected legal and theoretical basis for the operation of a hedge fund in the Czech Republic. First, the fund's properties are defined, and the fund's management requirements are defined. A financial analysis of selected companies is performed. The results are further compared and evaluated based on predetermined criteria. With the help of the bankruptcy model, too risky companies are eliminated. Based on the analysed results, a recommendation is made to expand the hedge fund's portfolio.
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Proposal for Expansion of the Investment Portfolio of the Industry-based Hedge Fund
Hubač, Josef ; Brauner, Roman (referee) ; Rejnuš, Oldřich (advisor)
This bachelor´s thesis is about expanding the hedge fund's portfolio by including stocks of international companies engaged in mining of precious metals. The theoretical part deals with the legal definition of investment funds based in the Czech Republic and definition of financial analysis. Thesis in practical part deals with choosing right companies to expand the portfolio with and financial analysis of chosen mining companies. The last part is about evaluation of founded informations and proposing own solution suggestions.
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Proposal of Investment Portfolio of Qualified Investors Fund
Václavík, Lukáš ; Ptáček, Roman (referee) ; Rejnuš, Oldřich (advisor)
The diploma thesis deals with the financial analysis of European joint stock companies in the pharmaceutical sector in order to expand the investment portfolio of a field-oriented fund of qualified investors. Selected companies are subjected to financial analysis by selected ratios. Based on these data, they are compared with each other by the method of intercompany comparison according to specified weights and verified in terms of their possible bankruptcy. With the help of these outputs, a proposal to expand the fund's investment portfolio is subsequently formulated.
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Top Stocks: A Broad Analysis of Its Performance and Search for Hidden Relationships
Veselá, Barbora ; Polák, Petr (advisor) ; Kurka, Josef (referee)
01 Abstract This thesis focuses on the exploration of the basic characteristics of the Czech equity fund 'TOP STOCKS - open mutual fund' and a detailed analysis of the portfolio performance with respect to industry classification. Uniquely collected data from the fund's establishment allow us to make analysis to the fullest extent possible. Additionally, our dataset may be the basis for further studies of this fund as it is the first of its kind and scope. The research question investigates the connection between the portfolio performance and its industrial structure. Various classification schemes are summarised in the first part of the thesis, including the Global Industry Classification Standard used in our study. Subsequently, appropriate tools for a regression and forecast analysis are presented, mainly the Box-Jenkins method used to fit the ARIMA model to historical data and forecast values of weekly NAV. The results show that a stock-picking strategy operates effectively and immediately reacts to the market development of industry groups, resulting in a protection of investors. Also, the exchange rate commitment of the Czech National Bank supported excessive cash inflow to the fund resulting in considerable performance stimulation during last years. Future research may build on these findings.
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Czech-German future fund as an instrument of the public diplomacy
Tížková, Lucie ; Kunštát, Miroslav (advisor) ; Eberle, Jakub (referee)
This diploma thesis examines changes, which the Czech-German Future Fund went through during its almost 20 years of functioning. The first part the author dedicated to theoretical concepts, which shed light on study of the Czech-German Future Fund. These theoretical concepts are reconciliation and public diplomacy. Thereafter are in tis thesis described efforts to compensate victims of National Socialism in Czechoslovakia and in the Czech Republic. This part of thesis is followed by description of the Czech-German Future Fund and its history. Based on this German-Czech Declaration of Mutual Relations and their Future Development of 1997 was the fund's mission to compensate victims of National Socialism, who didn't receive a compensation until then. The fund fulfilled this mission after 10 years of its function and also went through by many changes during almost 10 years of its functioning. The author describes these changes on which is based description of the project policy development of Czech-German Future Fund. After that the diploma thesis concentrates on changes in individual fund project groups, which are supported by the fund. These changes have an impact on financial character of individual project groups, on change of their structure or on change of the place, where are individual...
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