Abstract

FLORES GARCIA, Claudia Alejandra  and  ZAVALETA MIHAIC, Nadir Gabriel. Analysis of the performance of mutual funds in Bolivia compared to the performance of mutual funds in Chile, Argentina and Peru. Perspectivas [online]. 2016, n.38, pp.45-84. ISSN 1994-3733.

The Bolivian Capital Market has been developing over the years, at the same time, the clients financial needs has been growing as well as in savings and credits. That is why the present project will analyse a system that incorporates financial instruments addresses to savers whose funds will be launched as a next step to Investments. Many of these savers cannot carry out investments due to the fact that they do not own large amounts of money, or do not have access to capital markets. This paper will focus on Investment funds or Mutual funds, a financial instrument that allows investment in the Capital Markets in a more accessible, easy and guided way, taking into account possibilities to use these resources for investing purposes, and the most adequate conditions for each participant. The objective is to make a comparative analysis ofthe development of Mutual Funds in Bolivia, compared with mutual funds in Chile, Argentina and Peru, using certain indicators such as: Profitability (return), Standard Deviation, Sharpe Ratio, Treynor Ratio and Beta, for a four year period, from 2011 to 2014, in which the country and the best performing Mutual fund are identified from the other analysed funds. Also an automatic model to structure an investment portfolio of mutual funds is presented. This model is focussed and structured in order to provide a tool to the investor who wants to invest in more than one Mutual fund, no matter if the investor has or does not have, Financial Knowledge.

Keywords : Investments funds; Administrator of mutual funds; Open Investment funds; profitability *(or return); Sharpe Ratio; Treynor Ratio.

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