Abstract

VARGAS SANCHEZ, Alejandro  and  TORRICO SALAMANCA, José. BENCHMARKS AND THE PERFORMANCE OF MUTUAL FUNDS. Inv. y Des. [online]. 2019, vol.19, n.2, pp.27-41. ISSN 1814-6333.

This paper presents an empirical analysis of the performance of mutual funds from the perspective of their benchmarks. Through the estimation of the active return, the tracking error and the information ratio, with monthly data of 30 funds for the period 2014 - 2018, it was possible to identify the funds that exceed their reference rates, reflecting a more efficient asset management. The general results show that in Bolivia the portfolio management is characterized by a passive approach.

Keywords : Benchmark; Mutual Funds; Information Ratio; Tracking Error; Performance.

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