Abstract:

With the emergence of the private pension system, a new financial instrument called pension funds has started to operate. Turkey increasingly in importance with each passing day total funds accumulated in individual pension system, which increases as of October 2018 has exceeded 85 billion Turkish Liras. It is stated that these funds contribute significantly to the cost of finding resources, increase the long-term investments by helping to develop and deepen capital markets, and contributes positively to economic and financial stability. In this context, the aim of the study is to measure the performance of pension investment funds in the private pension system. In the study, the measurement of the performances of 157 pension investment funds, which are considered as an important investment tool for investors, between January 2014 and December 2017; Sharpe Ratio was calculated by using Treynor Ratio and Jensen Criteria and the results obtained from the performance analysis were compared with the performance of the BIST-100 index in the same period. When the results of the study were examined; According to the Sharpe Ratio, it was concluded that 48 private pension investment funds performed better than the BIST-100 compared to the 21 pension investment funds according to the Treynor Ratio and 51 private pension investment funds according to the Jensen Criteria

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