Schlagen Fondsmanager den Markt? by Thomas Burkhardt
Schlagen Fondsmanager den Markt?

Schlagen Fondsmanager den Markt?


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About the Book

Bachelorarbeit aus dem Jahr 2010 im Fachbereich Ratgeber - Recht, Beruf, Finanzen, Note: 2,0, Hochschule der Sparkassen-Finanzgruppe Bonn, Sprache: Deutsch, Abstract: Über die Darstellung des aktiven und passiven Anlagestils mit deren Ausprägungen und unter Berücksichtigung des aktuellen Forschungsstandes ist die Zielsetzung dieser Arbeit eine Antwort auf die Frage zu geben, ob aktive Fondsmanager den Markt schlagen. Als Markt wird in der Studie der Aktienmarkt betrachtet. Für den passiven Stil fiel die Wahl der Produktkategorie, um einen Bezug zur Praxis zu erhalten, auf das derzeit boomende Segment der Exchange Traded Funds (ETF). Unter Verwendung wissenschaftlich empirischer Studien und eigener Erhebungen die auf den Zeitraum der letzten 10 Jahre am europäischen Aktienmarkt mit zwei starken Kurseinbrüchen abheben, wird eine Untersuchung zur Outperformancefähigkeit aktiver Manager vorgenommen. Das Resultat bestätigt den bisher bestehenden Tenor, dass aktive Fondsmanager nach Kosten in ihrer Mehrheit die Benchmark nicht schlagen. In der eigenen Untersuchung erweist sich der Value Ansatz, wie bei Fama & French in ihrem 3 Faktoren Modell in langen Zeiträumen als der im aktiven Segment erfolgreichste Ansatz. Langfristig erfolgreiche Fondsmanager im aktiven Segment, sogenannte Ausnahmemanager, zeigen, dass trotz der empirisch nachgewiesenen Überlegenheit des passiven Anlagestils aktive Fondsmanager durchaus eine Outperformance erzielen können. Allerdings scheint dies personenbezogen und nicht Ausfluss eines bestimmten Anlageansatzes zu sein.


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Product Details
  • ISBN-13: 9783640699322
  • Publisher: Grin Publishing
  • Binding: Paperback
  • Language: German
  • Returnable: N
  • Spine Width: 3 mm
  • Weight: 132 gr
  • ISBN-10: 3640699327
  • Publisher Date: 13 Sep 2010
  • Height: 210 mm
  • No of Pages: 52
  • Series Title: German
  • Sub Title: Exchange Traded Funds (ETF) die überlegende Anlageklasse?
  • Width: 148 mm


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