The conditional performance evaluation of the colombian collective portfolios

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dc.contributor.authorMartínez, Miguel
dc.contributor.authorPardo, Paula
dc.date2015-06-01
dc.descriptionThe aim of this study is to evaluate the performance of the Equity mutual funds in Colombia. The Colombian mutual fund industry underwent a severe transformation after the Decree 2175/2007. Since then, the increasing asset volume managed and the market oriented investments are in line with the trends in this sector for the most financially developed markets. The study is focus on eight certainly Equity fund portfolios, and covers the period 2008-2011. We apply the unconditional versus the conditional evaluation methodology in order to assess the relevance of the public information in the delegated portfolio management in Colombia. For each fund portfolio, both, a unique and a rolling time performance estimation are obtained. The paper concludes, firstly, that performance has been largely significantly positive for the sample and period considered. It also finds that the differences in performance evaluation attained with both methodologies are negligible. Thus, conditioning information seems not to have been relevant in the Colombian Equity mutual fund industryen-US
dc.descriptionEl presente artículo evalúa la gestión de las carteras colectivas en Colombia tras la entrada en vigor del Decreto 2175 de 2007, que transformó radicalmente la industria de la inversión colectiva en Colombia en términos de la cuantía de activos gestionados, así como en la orientación hacia productos negociados en mercados regulados. En particular, el artículo analiza la gestión de 8 carteras colectivas de renta variable durante el período 2008-2011, tanto con una metodología incondicional, como condicional, que incorpora información pública en la gestión de las carteras. Se utiliza además una evaluación de la gestión dinámica, como complemento a la tradicional única y estática. El artículo da a conocer, primero, que las carteras colectivas de la muestra han sido gestionadas en forma muy satisfactoria durante el período de estudio, aunque sin apreciar diferencias relevantes entre la evaluación incondicional y la condicional.es-ES
dc.descriptionCet article évalue la gestion de de portefeuilles collectifs en Colombie après l’entrée en vigueur du décret 2175 de 2007, qui a radicalement transformé l’industrie de placement collectif en Colombie en ce qui concerne le montant d’actifs sous gestion, ainsi que l’orientation vers des produits négociés sur les marchés réglementés. En particulier, l’article analyse la gestion de huit portefeuilles collectifs des actions au cours de la période 2008-2011, avec une méthodologie inconditionnel et une conditionnel, qui intègre l’information publique dans la gestion des portefeuilles. Également il est utilisé une évaluation de la gestion dynamique, en complément de la traditionnelle, unique et statique. L’article souligne, tout d’abord, que les portefeuilles collectifs d´échantillon ont été gérés de façon très satisfaisante au cours de la période d’étude, mais ils ne voient pas différences majeures entre l’évaluation inconditionnelle et la conditionnellefr-CA
dc.descriptionEste artigo avalia a gestão de portfolios coletivos na Colômbia após a entrada em vigor do Decreto 2175 de 2007, que transformou radicalmente a indústria do investimento colectivo na Colômbia em termos de montante dos activos sob gestão, bem como orientação para produtos negociados em mercados regulamentados. Em particular, o artigo analisa a gestão de oito carteiras coletivas de renta variável durante o período 2008-2011, com uma metodologia incondicional e uma metodologia condicional, que incorpora a informação pública na gestão dos portfólios. É usado também uma avaliação da gestão dinâmica, como complemento para o tradicional, única e estática. O artigo salienta, em primeiro lugar, que as carteiras coletivas da amostra foram gerenciadas da forma muito satisfatória durante o período de estudo, mas não são apreciados grandes diferenças entre a avaliação incondicional e a condicional.  pt-BR
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dc.identifierhttps://revistas.unilibre.edu.co/index.php/criteriolibre/article/view/123
dc.identifier10.18041/1900-0642/criteriolibre.2015v13n22.123
dc.identifier.urihttp://hdl.handle.net/10901/13824
dc.languagespa
dc.language.isospaspa
dc.publisherUniversidad Librees-ES
dc.relationhttps://revistas.unilibre.edu.co/index.php/criteriolibre/article/view/123/88
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dc.relation.ispartofjournalRevistas - Ciencias Económicas, Administrativas y Contablesspa
dc.rights.licenseAtribución-NoComercial-SinDerivadas 2.5 Colombia*
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/2.5/co/*
dc.sourceCriterio Libre; Vol. 13 Núm. 22 (2015): Revista Criterio Libre No. 22; 51-77es-ES
dc.source2323-0886
dc.source1900-0642
dc.source10.18041/1900-0642/criteriolibre.v0i22
dc.subject.proposalcarteras colectivases-ES
dc.subject.proposaldesempeño condicionales-ES
dc.subject.proposaldesempeño no condicionales-ES
dc.titleThe conditional performance evaluation of the colombian collective portfoliosen-US
dc.titleLa evaluación del desempeño condicional de las carteras colectivas en colombiaes-ES
dc.titleL’évaluation de la performance conditionnelle des portefeuilles collectifs en colombiefr-CA
dc.titleA avaliação do desempenho condicional de portfólios coletivos na colômbiapt-BR
dc.type.coarhttp://purl.org/coar/resource_type/c_6501
dc.type.coarversionhttp://purl.org/coar/version/c_970fb48d4fbd8a85
dc.type.localArtículo Revisado por Pares Académicoses-ES

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