Analiza efektywności i ryzyka alternatywnych funduszy inwestycyjnych w warunkach polskiego rynku kapitałowego
Analysis of the efficiency and risk of alternative investment funds in the conditions of the Polish capital market
Author(s): Agata Gniadkowska-Szymańska, Agata Wiktoria ZiętekSubject(s): Business Economy / Management, Micro-Economics, Financial Markets
Published by: Polskie Towarzystwo Ekonomiczne w Zielonej Górze
Keywords: alternative investment funds; capital market; Jensen alpha ratio; Sharpe ratio; Treynor ratio;
Summary/Abstract: This article assesses the efficiency and risk of these funds in Poland. The main objective is to verify the hypothesis that alternative investment funds are more effective than traditional open-ended funds. The study covers the years 2018-2023, using measures such as rates of return, standard deviations, beta coefficients, and Sharpe, Treynor, and Jensen alpha indices. Studies show that alternative investment funds have higher rates of return and higher risk, which confirms the direct proportional relationship between these elements. These funds are more effective than open-end funds, which is important for investors looking for portfolio diversification and optimisation.
Journal: Zeszyty Naukowe Polskiego Towarzystwa Ekonomicznego w Zielonej Górze
- Issue Year: 12/2025
- Issue No: 22
- Page Range: 23-36
- Page Count: 14
- Language: Polish
