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Comparison of investment opportunities in mutual funds
NOVÁKOVÁ, Petra
Collective investment enables people to have an appreciation of and access to a variety of funds by investing money as part of a group in mutual funds. This thesis deals mainly with the five selected equity funds. The theoretical part is devoted to the development of collective investment within the Czech Republic's legislation, including its advantages and disadvantages and the characteristics of the capital market. Furthermore, it classifies mutual funds according the content and expresses the concept of a participation certificate with the rights associated with it and also describes the influence of financial crisis on collective investment. In the practical part is compared five equity funds according to selected characteristics on the basis it is possible to choose the right mutual fund.
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Analysis of Mutual Funds in Emerging Markets
ČUNÁT, Marek
In the thesis we are interested in the analysis of the Chapter 2 (Investments) is devoted to the detailed history of collective investment and to the basement of investment fund behaviour. We speek about the advantages and disadvantages of the investments to mutual funds and we shortly speak also about institutional protection of investors. To our case study, we have chosen mutual funds held by the CSOB Asset Management Company, and by the Franklin Templeton Investments. Both funds are investing on emerging markets of Latin America. In chapter 3 (Theoretical Basements) we start with explaining the terms used by the remaining parts of the thesis. We shortly speak about the net asset value and how it is employed, and continue with comparing various investments through p. a. measure. In the next part of the chapter we explain through the term of the net present value how to incorporate the influence of the inflation rate into comparing the gains. Chapter 4 (Analysis of Selected Funds) describes the behaviour of the one-shot and per regular basis investments, first on the longtime horizon from year 2001 to 2012. We conclude that on this long-term basis the one-shot investment acquire greater profit. Next we are describing situation of investments through the financial crisis in 2008 where the regular investments was definitely more efficient. Last studied case is the investment at the bottom of the crisis where the both investment concepts are evaluated as profitable, the one-shot one having of course better returns. In the last section of the chapter 4 we analyze the results of our computation, compare all investments cases at different phases of the market situation and conclude about their advantages and issues.
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A Performance Comparison of mutual funds and ETFs available in Czech Republic from the CZK investor's point of view
Kůna, Jakub ; Musílek, Petr (advisor) ; Havlíček, David (referee)
This diploma thesis "A Performance Comparison of in Czech Republic available mutual funds and ETFs from the view of CZK investor" elaborates on collective investing in Czech Republic; focusing on mutual funds and their exchange traded alternatives in ETFs. In the thesis, a history of Czech collective investments' development is briefly mentioned and of ETFs' beginnings in the US, also a legislative framework for the mutual funds in CZ is shortly discussed; furthermore, different approaches to fund classification based on various criteria are provided. An impact of fund fees and expenses is also analysed. A Current situation on the capital market of funds and ETFs and its trends are showed in many graphs and tables. In the second part of the thesis, author introduces not only the basic ones but also the more sophisticated methods of portfolio's or fund's performance measurements, including yields, risks, risk-adjusted yields etc... The third and last chapter aims at application of the previously mentioned methods on a selection of 20 funds and ETFs; therefore building a financial model enabling that. The analysis is viewed as from the CZK investor, thus all calculations are made in CZK.
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Analysis of performance of russian mutual funds
Hofman, Elena ; Musílek, Petr (advisor) ; Baran, Jaroslav (referee)
This thesis is focused on the analysis of performance of chosen russian mutual funds on the basis of achieved yield and risk. After short introduction to the russian market of mutual funds, the paper deals with a theoretical background underlying the performance indicators. Risk perception and following construction of indicators are discussed in detail from the perspective of modern and post-modern portfolio theory. The indicators are interpreted and appropriateness of their application is assessed. The analytic part is devoted to the application of discussed methods on 10 open-ended equity mutual funds. Based on the result, the funds are compared with each other and with selected market index.
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Analysis of activities and products offered by ČP INVEST investiční společnost, a.s.
Lichovníková, Alena ; Veselá, Jitka (advisor) ; Musílek, Petr (referee)
The goal of this work is to analyze the possibilities of investing in the company ČP INVEST, investiční společnost, a.s.. The introduction of the work summarizes the development of collective investment in the Czech Republic, the second part focuses specifically on the ČP INVEST company and the investment activities it offers. In the last, analytical part is the main attention paid to the standard ČP INVESTS funds with long-term investment horizon, which are evaluated using two-dimensional models considering both performance and risk. Based on these results are formulated recommendations that I would provide to potential investors interested in investing in the ČP INVEST company.
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ETF from investor's point of view
Víťazka, Peter ; Witzany, Jiří (advisor) ; Pumprová, Zuzana (referee)
Bachelor thesis is dealing with description of a modern product called exchange traded funds. It provides information about features, development and functioning of this new investment instrument. It outlines orientation in this topic and analyzes advantages and risks in comparison with chosen product for investor. Purpose of the last analytical part is to draft creation of Czech crown ETF tracking PX index. The thesis yield groundwork for possible launch of this plan.
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Comparison of selected mutual funds
Hort, David ; Veselá, Jitka (advisor) ; Ducháčková, Eva (referee)
The main task of this bachelor thesis is a comparison of selected debt and equity mutual funds based on the historical performance taking into account risk and the fees of these funds as well. The first, theoretically oriented, part of this work deals with the branch of collective investment in the Czech Republic from the perspective of historical evolution, recent legislative adjustments and the definition of the essential representatives of collective investment including their distribution. The second part presents the basic methods of quantification of historical risk and performance of the mutual funds. The final, practically oriented, section includes the results of the measurement of the historical performance of the selected funds based on the composite measures of performance and this closing chapter contains the analysis of the transaction costs of the monitored funds as well. Investment recommendations for potential investors are made based on these findings.
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Analysis of selected funds by Pioneer Investments
Kabátová, Sylvie ; Veselá, Jitka (advisor) ; Dvořák, Roman (referee)
The thesis deals with market for collective investments in the Czech Republic, the principles of mutual funds business, legal coverage and performance. Specifics of collective investments in the Czech Republic and legislation are clarified in the first part. In the second part the basic methods of evaluating the mutual funds performance are described. The second chapter includes the presentation of Pioneer Investments, of which mutual funds are subject of performance analysis. The practical part is focused on the analysis of selected, previously characterized, mutual funds managed by Pioneer Investments. These funds are compared with performance of other competitive funds on the market.
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