Financial performance of investment funds as members of Tehran stock exchange

  • Authors

    • Marzieh Jamdar Islamic Azad University, Olom Tahghighat Branch, Tehran
    2015-06-21
    https://doi.org/10.14419/ijaes.v3i2.4816
  • Mutual Fund, Sharpe's Measure, Treynor's Measure, Jensen's Measure, Modigliani's Measure.

  • Abstract

    In this research, the financial performance of investment funds as members of Tehran Stock Exchange was measured based on the Modern Portfolio Theory (MPT) measures including Sharpe's, Jensen's, Treynor's and Modigliani's measures. The performance rating of investments was also compared based on the above measures and the relation of any fund's rank with the related measures was examined. Overall, 32 mutual funds were evaluated during 2011-12. The results showed that the net growth percentage of any in-vestment unit's asset value is directly and strongly related to the growth percentage of Sharpe's, Jensen's and Modigliani's measures, but the net growth percentage of any investment unit's asset value is weakly and inversely related to Treynor's measure. The funds' ranks were not also the same based on the abovementioned measures, but there is only a significant relationship between their ranks.

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  • How to Cite

    Jamdar, M. (2015). Financial performance of investment funds as members of Tehran stock exchange. International Journal of Accounting and Economics Studies, 3(2), 105-108. https://doi.org/10.14419/ijaes.v3i2.4816

    Received date: 2015-05-21

    Accepted date: 2015-06-15

    Published date: 2015-06-21