Abstract:

The fact that individuals living in a country have a high level of well-being and the depth and development of the capital market; the main factors affect the level of development of that country. The amount of savings of individuals is one of the economic parameters of the country in which they live. Individual pension systems, which began to be implemented as a complement or alternative to social security systems around the world since the 1980s, enable individuals to obtain additional income to reach high levels of well-being during their retirement periods, while also contributing to the development and deepening of capital markets by transferring their savings to individual retirement investment funds. There are many studies on individual pension systems that contribute significantly to the level of development of countries in literature, but there has not been a study that includes the applications of individual pension investment funds in Turkey to analyze financial performance. For this reason, the study aimed at determining the financial performance rankings of the funds in Turkey by conducting an analysis of the financial risk performance of the individual pension investment funds. For this purpose; to compare the performance of individual retirement investment funds; low-risk, Sharpe rate and Sortino rate measurements have been used. The analysis was based on the period 04.01.2010-31.12.2018 for the financial performance ranking of individual pension investment funds, which consist of 28 units and are divided into 8 types.