Abstract:

Investment funds increase the market participation of investors by giving savings holders the opportunity to invest their funds in well-diversified portfolios. The perception of funds as an attractive investment tool for investors is directly related to the performance that the funds show. There are many factors that affect the performance of the fund. The market timing skills of fund managers are also one of these factors. The study aimed at evaluating the performance of the share funds translated in Turkey in terms of timing ability. In line with this objective, the performance of the market timing, using the monthly data of 18 funds for the period covering the period between 2008 and 2018, was analyzed with various models. When the classic market timing models were applied, it was concluded that a significant part of the funds did not have the ability to timing the market. Volatility timing performance, timing performance in different market conditions, and the impact of active and passive portfolio management on timing performance models have different results.

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