Abstract:

Purpose - This study aims to analyze the funds evaluated in the individual pension system, with performance measurement models. Method - The Sharpe Rate, where the risk is expressed as a standard deviation, the Treynor Rate, which is based on the systemic risk (beta) along with the performance measurement, and the Jensen measurement are used. As a comparison measure in the performance assessment of the stock pension investment funds, the market index is accepted by the BIST-100 index. Results - Results from the study show that the analysis subjects 19 share pension investment funds 16 showed a better performance than the BIST-100 return. The remaining 3 shares of the retirement investment fund did not show successful performance because it had a lower yield than the BIST-100 return. When the results were studied, similar results were achieved in all the performance measurement models used. In other words, performance measurement models have shown that systematic risk or total risk based does not change performance results. Discussions - When the achieved results are assessed from the point of view of investors, it can be stated that the desired method can be used in the performance assessment because there is no difference between the methods used in the measurement of the fund performance. However, the results obtained from the study apply only to the investment funds in the sample. Analysis of different types of investment funds that are studied and/or compared will be the subject of new studies.

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