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vol.21 número46VENDAS INFORMAIS NO ESPAÇO PÚBLICO EM VILLAVICENCIO (COLÔMBIA)A INFORMAÇÃO NÃO FINANCEIRA E O DESEMPENHO FINANCEIRO EMPRESARIAL índice de autoresíndice de assuntospesquisa de artigos
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Semestre Económico

versão impressa ISSN 0120-6346

Resumo

DELGADO VELEZ, Luis David  e  DURANGO GUTIERREZ, María Patricia. STRUCTURING OF AN INVESTMENT PORTFOLIO WITH COLOMBIAN SHARES. Semest. Econ. [online]. 2018, vol.21, n.46, pp.167-183. ISSN 0120-6346.  https://doi.org/10.22395/seec.v21n46a7.

The main goal of this paper is to evaluate the structuring of a portfolio with shares of three collective investment funds of the Colombian market, based on the performance of the Modigliani and Modigliani index (M2). The methodology used is an optimization model, whose objective function is to minimize the variance of the aforementioned portfolio until it is equal to the market variance (Colcap index). The results allow to infer that optimization would improve the performance of the Indeacción fund shares, going from 7.73% to 9.86% annual cash; while those of the Fiduacción fund would increase their performance from 5.58% to 27.33% annual cash. It is concluded that, given the greater level of uncertainty regarding the economy and the particularities of the Colombian market, it is important that portfolio managers include in their analysis some performances to improve their decisions.

JEL CLASSIFICATION:

G11

CONTENT:

Introduction; 1. What are the Investment Portfolios?; 2. The Performances of Investment Portfolios; 3. Collective Investment Funds; 4. Methodology; 5. Results and Discussion; 6. Conclusions; Bibliography.

Palavras-chave : Portfolio selection; investment decisions; collective investment funds; profitability measures; Colombia.

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