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Fredy Alexander Pulga Vivas

María Teresa Macías Joven

Resumen

Este estudio analiza si los FIC en Colombia ofrecen rendimientos ajustados por riesgo mayores al mercado y su persistencia. Evaluamos el desempeño de 146 FICs, por tipo de inversión y de administrador, utilizando la Teoría Moderna de Portafolios y “Momentos Parciales Inferiores”. En general, los FICs ofrecen rendimientos reales inferiores a los del mercado. Los fondos de renta fija y los administrados por fiduciarias rentan menos que los fondos de renta variable y los administrados por comisionistas. Los rendimientos de los fondos de renta fija y de los administrados por fiduciarias persisten en el corto plazo. Los inversionistas deben seguir estrategias pasivas de inversión, y deben analizar el comportamiento pasado de los retornos para invertir en el corto plazo.

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Keywords

Fondos de inversión colectiva, rendimiento del fondo, administradores de los fondos, riesgo, desempeño, persistencia

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Cómo citar
Pulga Vivas, F., & Macías Joven, M. (2019). Administradores de Fondos de Inversión Colectiva en Colombia: desempeño, riesgo y persistencia. Cuadernos De Administración, 32(59). https://doi.org/10.11144/Javeriana.cao32-59.pmco
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