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Journals / Journal of Sustainable Economics and Management Studies / 2024 / Volume: 5 Issue: 2

A Research on Periodic Comparison of the Performance of Pension Investment Funds in Türkiye

Bülent İlhan(ISTANBUL GELISIM UNIVERSITY)0000-0002-8022-3225
Pages
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Publication Date
2026-02-23
DOI
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AI Summary & Key Takeaways

AI Insight
⚡ TL;DR(Too Long; Didn't Read)

In the second period, real returns for bond funds and money market funds are negative, while those for stock and gold funds are positive.

📌 3 Key Takeaways

🎯
Objective & Hypothesis:The empirical analysis used in this study is based on the comparison of the performance of pension investment funds in Türkiye over two consecutive five-year periods.
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Key Findings & Data:The first period is January 2015 – December 2019, the second is January 2020 – December 2024.
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Conclusion & Impact:In the second period, real returns for bond funds and money market funds are negative, while those for stock and gold funds are positive.
🔬Design:Research Article
📍Scope:2015 Verileri
⚙️Variables:Private Pension Systems · Portfolio Performance Metrics · Sharp Ratio

Abstract

The empirical analysis used in this study is based on the comparison of the performance of pension investment funds in Türkiye over two consecutive five-year periods. The first period is January 2015 – December 2019, the second is January 2020 – December 2024. The pension investment fund types included in the analysis are bonds and bills funds, money market funds, stocks funds and gold funds. In the empirical analysis, Sharpe, Sortino, Treynor performance ratios and Jensen alpha performance measures of selected pension investment funds are computed. According to the findings obtained in the analysis: i) The performances of pension funds of the same type are similar in the first period, except for equity funds. ii) Although nominal returns for all funds are positive in both periods, inflation-adjusted real returns for stock funds and bond&bill funds are negative in the first period. In the second period, real returns for bond funds and money market funds are negative, while those for stock and gold funds are positive.

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Cite This Article

İlhan, B. (2026). A Research on Periodic Comparison of the Performance of Pension Investment Funds in Türkiye. Journal of Sustainable Economics and Management Studies, Volume: 5 Issue: 2. https://ajindex.com/articles/1619202

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