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Rates of Return on Open-End Debt Investment Funds and Bank Deposits in Poland in the Years 1995–2015 – A Comparative Analysis

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  • Dittmann Iwona

    (Wrocław University of Economics, Faculty of Economic Sciences, Department of Finance, Komandorska 118-120, 53-345 Wrocław, Poland)

Abstract

This paper presents the results of a comparison of the rates of return on specific open-end debt investment funds in Poland with the rates of return on bank deposits, in light of different time horizons. A comparative analysis was conducted based on the quartiles of the empirical distributions of the rates of return on selected funds and bank deposits. The empirical distributions were obtained using a moving window of observation. The results were largely influenced by very high interest rates on bank deposits in Poland in the years 1995–2001 (in the case of the oldest funds), and by the boom in the bond market in the years 2011–2012 (for the youngest funds). The investment horizon turned out to be significant. The best and worst funds were identified.

Suggested Citation

  • Dittmann Iwona, 2016. "Rates of Return on Open-End Debt Investment Funds and Bank Deposits in Poland in the Years 1995–2015 – A Comparative Analysis," Folia Oeconomica Stetinensia, Sciendo, vol. 16(1), pages 93-112, December.
    • Handle: RePEc:vrs:foeste:v:16:y:2016:i:1:p:93-112:n:7
    DOI: 10.1515/foli-2016-0007
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    References listed on IDEAS

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    More about this item

    Keywords

    personal finance; comparative analysis; open-end investment funds; deposits;
    All these keywords.

    JEL classification:

    • D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance
    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions

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