Individual retirement system, which is complementary to the public social security system in Turkey, is based on voluntary participation basis. Savings are transferred to pension funds in the individual retirement system offering the opportunity to make regular savings. Savings to be transferred which funds are determined by the participants. Participant's attitude to risk and return expectations comes to the forefront in the investment phase. Fund allocation can be changed taking into account economic and market conditions as needed. In this study, creating optimal portfolios are aimed for the current and/or the potential participants of the individual retirement system in Turkey. For this purpose, within the scope of modern portfolio theory developed by Harry Markowitz (1952) the process was carried out. As a result, It was determined that the funds should be invested mainly located in the medium and high-risk groups of funds depending on the expected return increase. In case of return expectations fall, it was observed a significant decrease that the rate of high-risk pension funds in the portfolio.
Alan : Sosyal, Beşeri ve İdari Bilimler
Dergi Türü : Uluslararası
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