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The Impact of Regulation on the Czech Collective Investment Industry
Dolejš, Martin ; Kříž, Radim (advisor) ; Žák, Květoslav (referee)
Czech collective investment industry has been since 2004 regulated by EU directives and special national legal regulations. The national legal regulations, in particular, have undergone significant changes with major impact on the Czech collective investment fund industry. The paper is analyzing the impact of the most significant legal changes on the colective investment funds between 2004 and 2011 in the Czech Republic. In this period the whole supervisory system of financial market has been moved under the Czech National Bank. CNB became, together with the Ministry of Finance, coregulator of the fund industry as well. Major wrongdoings of the czech funds are described.
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Performance evaluation of funds in the Czech Republic
Vítová, Veronika ; Valach, Josef (advisor) ; Novotný, Pavel (referee)
The thesis compares the performance of Czech equity mutual funds, focusing on less common indicators and performance assessment methods. This means mainly a modern ratios that takes into account both of yield and risk of the investment. The introductory theoretical part deals with the basic characteristics, legislation, typology and histoty of the funds in the Czech Republic since the early years of its existence to the present. Selected indicators for assessing performance of funds (Sharpe, Treynor, Calmar Ratios, Jensen alpha, Information Ratio and Maximum Drawdown) and also comparison funds with benchmark is applied in the analytical part. The thesis highlights the problems with the interpretation of ratios in the case of falling markets, and also proposes solutions to these problems.
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One-time and regular investments through insurance products
BRYCHCÍN, Karel
The essay analyzes the products on the Czech insurance market for investment opportunities and solve different scenarios of potential clients of insurance companies. Describes the formation, history and purpose of insurance, types of insurance products and their characteristics, a description of selected investment products of insurance companies and compare the performance of selected investment portfolios.
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Open muttual funds versus investment life insurance
NESVAČILOVÁ, Lenka
In last decade passed investment in the Czech republic discontinuous innovation. The expanse of investors fund is adherent to voucher privatization, which they realized in 1992 {--} 1994. At the beginnig of new millenium in the Czech republic begin penetrated foreign investments company. The faulted year for collective investing was in 2004, when Czech republic enter in Europion Union. The market of life insurance in last years noted big boom. Since 1996 the market of life insurance trebled. In my graduation theses I compare two products {--} investment life insurance and open muttual funds. The investment life insurance is Flexi 2009 from Pojišťovna České spořitelny, a.s. and open muttual funds is Evropslá penze Plus/Baby from Conseq Management Investment, a.s. The similar products are in the czech market many, but is not possible to characterise and compare all. Investment life instance is more difficult product than open muttual funds. Especially is adress those, who has commitment to third persons, for example familly or long loan. Open muttual funds is a form of savings, which offer interesting assesment investment instruments. I can´t say, that one product is better than second. For me both muttualy added. From existencial reasons is more necessary life insurance in result cover human risks of clients and their familly. I would recommend clients, who want conclude investment life insurance or enter in world of investing in the form of open muttual funds to not restrict to selection only one insurance or investment company. In time of charge wars are prices very different in almost the same products. Client should have a comparison ond offers selected products from more financial institucions or financial advisors, who have almost all company under {\clqq}one roof`` and they can select. They should know, what is for their clients important, what not and mainly why.
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Comparison of mutual funds of different investing companies with respect to different aspects
KUČERA, Stanislav
The objective of this thesis is to describe and compare mutual funds in the Czech Republic. In the theoretical part I will explain what mutual funds are, and how they are traded. I will also explain how the funds are classified, and how they are regulated by the legislation. The history of collective investing and mutual funds in the world and in the Czech Republic will be mentioned also. At the end of the theoretical part is mentioned the economic recession, which has had great effect on the mutual funds, and investing in general. The main goal of this thesis is included in the practical part, where I carefully chose a total of twenty mutual funds of the five main investment companies based in the Czech Republic. There are four kinds of funds to compare: The equity funds, obligation funds, mixed funds and monetary fund. The indicators that will be compared in every category of funds will be: performance, volatility and fees. There is also a comparison which analyzes what fund in each category has withstood the test of recession, and what fund has failed. The results of the comparison are commented, giving possible reasons what could have caused such a performance.
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Comparison of Investment Opportunities in the Collective Investment Funds
MELECSKIOVÁ, Andrea
Bachelor work describes a comparison of selected funds of collective investments. The theoretical part explains principal of collective investments, describes its progress and introduces institutions dealing with collective investments and kinds of share funds which investors may put their money in. The practical part describes not only the comparison of chosen share funds according to certain criteria but also analyses share fund´s offer and Word financial crises impact on collective investment funds. The aim is to show investors all important criteria while choosing their share fund and to offer them recommendation when choosing their fund.
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Actual Problems of the Collective Investment in the Czech Republic
PÝCHOVÁ, Lucie
The section of collective investment in Czech Republic registered very dynamic development in last years. The progressive volumes of bussines realized between financial mediator and wide investic public deposes about this fact. But also this section fights with these problems, which can lead to milliards´ exits goods and reflux of investors. The purpose of theoretic part is identification investor with history of collective investment, its development and changes throught this district, eventually in the near future are expecting. Practic part follows to shares funds, formation and their contrast on the basic of fixed criterions. All evalution is completed with indicences of global financial crises, the biggest problem of all world´s economic. This part contains also real procedure, which can potencial investor asserts as suitable investic alternate.
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The Collective Investment in the Czech Republic
PÝCHOVÁ, Lucie
The region of collective investment noted considerable development on the territory of the Czech Republic during last ten years. People start to look for new methods of evaluation their free means and just collective investment offers this possibility to them. This work was conceived as a companion for beginning investors. The object of theoretic part is to meet investors with the region of collective investment, with basic conception and subjects, which operate in the marketplace. Practic part is devoted to shares funds, which can be used for investment. This part contens not only evaluation according to various criterious, but also offers the procedure according to can investor to pool between channels for investment in term of collective investment and to choose the correct shares fund on its basis.
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The Analysis of the Security of People in Old Age
Zdeněk, Jiří ; Radová, Jarmila (advisor)
My bachelor thesis "The Analysis of the Security of People in Old Age" is devoted to selected manners, which can be used to ensure people in post-productive age. These are primarily the collective investment, investing in stocks and real estate investment. With less details than the first three mentioned ways are analyzed the life insurance and additional pension insurance. I describe and evaluate all these methods especially with focus on their applicability for the purpose of security in old age, as it is demonstrated on three model examples. I also point to the need for a conscientious approach to dealing with old age security, which rests not only in the decision to begin ensuring yourself for an old age, but also in taking this decision as soon as possible, respectively by the time it will be enabled by the economic situation of person in question.
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Collective Investment in the Czech Republic Focused on Physical Entities
Paluka, Jiří ; Votava, Libor (advisor) ; Vopátek, Jiří (referee)
The bachelor thesis deals with a set of problems related to decisions about investments in collective investment funds. The thesis is divided into a theoretical part and a practical part. The theoretical part should explain the principles of collective investment in the Czech Republic - legal regulations, principles of investment, types of funds and the composition of their holdings. The last chapter of the theoretical part is devoted to pension funds in the Czech Republic to compare shares funds and pension funds. The practical part is focused on practical utilization of theoretical pieces of knowledge and a comparison of chosen investment companies. The aim is to advise investors how to proceed when deciding about investments in collective investment funds and how they can invest their money in them.
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