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Underhand retail investment funds
Černý, Lubor ; Kotáb, Petr (advisor) ; Vybíral, Roman (referee)
Underhand retail investment funds Abstract The master thesis deals with the topic of the activities of underhand retail investment funds according to § 98 of Act No. 240/2013 Sb., on Management Companies and Investment Funds, as amended. The aim of this thesis is to present and analyse this regulation. The attention is mainly focused on defining the general and typical features of this activity prohibited by law, which consists in the unauthorised operation of a retail investment fund without the necessary authorisation. A partial objective of this work is also a brief definition of assistance with underhand retail investment fund according to Section 99 of Act No. 240/2013 Coll., on Management Companies and Investment funds, as amended, and an analysis of the sanctioning of underhand retail investment funds in the framework of the offence proceedings. The thesis is divided into two parts. The first part introduces collective investment as an area of activity of investment funds. It also defines the strict regulation of this area and the related reasons for committing the prohibited activity that is the subject of this thesis. Attention is also paid to statistical data that demonstrate the increasing interest in collective investment by the general public in the Czech Republic., which may cause an...
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Collective investment and its legal regulation
Schwarz, Jaroslav ; Kotáb, Petr (advisor) ; Kohajda, Michael (referee)
5252 Abstract Collective investment and its legal regulation In the Czech Republic the collective investment has experienced a huge expansion in the last decade which was caused among others by renewing the trust in legal regulation which ensures the safety of investment to the investors. Because the topic is relatively difficult and undoubtedly interesting I chose it as a topic of my diploma thesis. This paper is divided into chapters and subchapters containing particular topics regarding the collective investment legislation but to maintain the overall logical structure of the issue. Before starting to write the diploma thesis I discussed the biggest problems of a practical application of the collective investment legal regulation with practising lawyers as this view from the academic preparation was missing. I found out from this short survey the most common problems connected with the collective investment legal regulation which I discussed in this diploma thesis. These include in particular the definition of public offering under the Collective Investment Act, the possibility to offer the services of closed-end foreign funds in the Czech Republic and the recently introduced legislation regarding standard and alternative funds. For this reason I researched the available literature including papers in...
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Collective investment in Czech Republic
FREJLACHOVÁ, Edita
The thesis presents the issue of collective investment in the Czech Republic and its findings are applied to a comparison of funds. The investment funds chosen for comparison are available in Czechia as a part of collective investment. The aim of the thesis is to verify the possibility and options of collective investment in the Czech Republic and comparison of selected funds based on selected criteria. Advantages, disad-vantages and history of collective investment in the Czech Republic are defined in the review. This part also explains subjects and typology of collective investment funds. There is also legislation regulating collective investment in the Czech Republic. First part of practical part deals with the development and the number of collective investment funds in the Czech Republic between 2013 and 2022. Second part compares selected shares and bond funds in terms of profitability, volatility, fund capital and the total cost of funds between 2018 and 2022. The conclusion recommends the potential small investor about the best possible way to invest his money.
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ETF funds as an alternative to collective investment
ZÁMEČNÍKOVÁ, Veronika
This thesis focuses on ETF funds as an alternative to collective investment. In the first part of the theses collective investment is defined, its pros and cons. The next chapters are dedicated to history of collective investment in the world and Czech Republic, legislation in Czech Republic and subjects of collective investment. In the next chapter of the first part the indicators of yield and risk are described. The last chapter of theoretical part is devoted to ETF funds characteristics, differentiation of the basic differences between ETF funds and other funds of collective investment and the main categories of ETF funds. For the practical part of the thesis, I chose 15 ETF funds and 10 actively managed funds. For these funds the indicators of yield, indicators of yield with risk considered and indicators of risk were calculated. The indicators of yield with risk considered are Sharpe ratio, Treynor ratio and Jensen method of alfa coefficient calculation, as indicators of risk the standard deviation and Value at risk were chosen. The data used were monthly and it was set up time period of five years. Lastly, I compared the calculated values, determined if it is more beneficial to invest in ETF funds or in actively managed funds and I recommended funds for minor investor. The data used were between 2017 and the end of 2021, so its development was affected by the Covid-19 epidemic that negatively affected prices of securities and by that also funds that trade with these securities.
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Analysis of mutual funds in the Czech Republic
FLANDEROVÁ, Adéla
The bachelor thesis focuses on the area of collective investment and the types of mutual funds in the Czech Republic in which investors can invest their funds. The work is mainly focused on the comparison of three stock mutual funds and three bond mutual funds from various investment companies. The funds are compared according to the following criteria: return of funds, risk, fees, costs, investment horizon and portfolio size. Further attention is paid to the influence of history, especially the impact of the 2008 crisis. Based on the evaluation of the results, the most advantageous fund for a small investor is recommended. The main purpose of the thesis is to show investors all of the important criteria and analyze the available information of each mutual fund so that the funds bring the highest possible value of investments.
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Funds for qualified investors
Řeháčková, Hana ; Kotáb, Petr (advisor) ; Dřevínek, Karel (referee)
Funds of qualified investors Recent events in the financial world emphasize the need to understand institutions and instruments of capital market. From that reason I have chosen the area of funds of qualified investors. The aim of my thesis is to examine the treatment of funds of qualified investors, to characterize the main changes the funds have come through and to carry out a comparative analysis of similar funds which are intended for professional investors abroad and to focus on strict European legislation in this area which has an effect on the Czech funds of qualified investors and assess influence of the legislation on them. The thesis is structured into six chapters, each of them dealing with different aspects of the funds of qualified investors. The first chapter is introductory and introduces basic terminology of the subjects of collective investment; the chapter is divided into three subchapters. Subchapter one describes collective investment in the context of financial market, the second subchapter concerns the main principles of collective investment and in the third subchapter there are explained advantages and disadvantages of collective investment. The second chapter introduces the legislation of collective investment in the Czech Republic; it is also divided into three...
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Public law protection of a consumer of financial services in the Czech Republic
Safín, Michal ; Kohajda, Michael (advisor) ; Boháč, Radim (referee)
The thesis aims to specify means of consumer protection in financial services in the Czech legal system, to clarify their structure, assess efficiency and evaluate the extent to which consumer protection is provided. Main topic of interest is restricted within the purview of the financial ombudsman of the Czech Republic. The first chapter focuses on definition of instrument of consumer protection in financial services and their classification from a theoretical point of view. The next three chapters are devoted to a detailed depiction of consumer protection means in three segments of the financial market: payment system, consumer credit and collective investment. Legal provisions concerned with the Czech financial ombudsman are the matter of subject of the last chapter, which is accompanied with a brief analysis of functioning efficiency of this institution. Applied methods are interpretation of Czech legal framework, description of consumer protection instruments and basic statistical methods used for data comparison, which are the basis for general deductive implications. The paper pinpoints deficiencies of the legal provisions and its conclusions consist of suggestions in specific fields. The main output of the thesis includes an emphasis of the need of progress in financial readiness of...
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Invest of Retail Investors in Collective Investment Funds
Kyllarová, Barbara ; Komárková, Miroslava (referee) ; Rejnuš, Oldřich (advisor)
The diploma thesis deals with the investment of small investors in collective investment funds and the recommendation of a suitable investment fund for a given investor. The theoretical part is devoted to general investment concepts with a focus on collective investment funds and evaluation of their return, risk and liquidity. The practical part is devoted to the selection, analysis and comparison of funds. The design part contains investment recommendations of a specific fund meeting the investment requirements of a specific investor.
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Investment in Collective Investment Funds
Gajdůšek, Michal ; Slezák, Tomáš (referee) ; Rejnuš, Oldřich (advisor)
Bachelor thesis is focused on selection and evaluation of collective investment funds for the purpose of company’s disposable money investment. Theoretical part describes investment concepts and czech legislation relating to investment funds and collective investment funds. Theoretical part also describes methods used in practical part. Practical part is focused on funds selection (only funds under Czech national bank supervision), their analysis and comparation. Proposal part contains proposal of an investment recommendation in form of a specific fund that meets company’s criteria.
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