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Performance Persistence of Quasi-Hedge Funds on Polish Capital Market
Abstract
The article presents the analysis of performance persistence of quasi-hedge funds operating on Polish capital market in the years 2005–2015 with the use of authors’ ARI-WIG index (Absolute Return Index). The article consists of four parts. The first chapter is preceded by introduction and presents the essence and ways of determining performance persistence of investment funds. The second chapter is a review of foreign and Polish literature on the subject. The third chapter presents the methodology of research on the performance persistence of quasi-hedge funds on Polish capital market. Finally, in the last chapter, the authors analyse the performance persistence of quasi-hedge funds. The authors conclude that the phenomenon under analysis determines the possibility of predicting the performance of funds, which has a profound effect on decisions taken by investors and fund managers, who want to achieve above-average trading performance, about allocating their resources.
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DOI: http://dx.doi.org/10.17951/h.2016.50.4.11
Date of publication: 2017-02-20 17:31:15
Date of submission: 2016-06-01 09:11:39
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Copyright (c) 2017 Waldemar Aspadarec, Sebastian Majewski
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