EVIDENCE OF ACTIVE MANAGEMENT OF PRIVATE VOLUNTARY PENSION FUNDS IN COLOMBIA: A PERFORMANCE ANALYSIS USING PROXY ETFs
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2010
- handle: 10670/1.43fdpb
- 0123-5923
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http://www.redalyc.org/revista.oa
Estudios Gerenciales
Mots-clés
Administración y Contabilidad active management Portfolio performance voluntary pension market in ColombiaSujets proches
Pension plans Employee pension trusts Pension fundsCiter ce document
EDGARDO CAYÓN FALLÓN et al., « EVIDENCE OF ACTIVE MANAGEMENT OF PRIVATE VOLUNTARY PENSION FUNDS IN COLOMBIA: A PERFORMANCE ANALYSIS USING PROXY ETFs », Estudios Gerenciales, ID : 10670/1.43fdpb
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Résumé
"The purpose of this study is to find evidence that shows that either active management of private pension funds in Colombia actually adds value to the investors or, on the contrary, investors would achieve better results if they invested in passively managed products such as, for example, an ETF (Exchange Trade Fund). After conducting a review of data available from 30 different private pension funds in Colombia and 30 ETFs that had similar investment goals to these portfolios, our findings reveal that, using common performance indicators, a Colombian investor would have a better ROI by investing in passively managed products (ETFs) than in portfolios currently offered by voluntary pension funds in Colombia."