Publicado nov 8, 2019



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Fredy Alexander Pulga Vivas

María Teresa Macías Joven

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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.

Keywords

Mutual funds, funs performance, funs managers, downside risk, performance persistenceFondos de inversión colectiva, rendimiento del fondo, administradores de los fondos, riesgo, desempeño, persistenciaFundos de investimento coletivo, desempenho de fundos, gestores de fundos, risco, desempenho, persistência

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Cómo citar
Pulga Vivas, F. A., & Macías Joven, M. T. (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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