Evaluate the performance of the investment strategies of active investment funds: Case Study in the Tehran Stock Exchange on growth and value strategies
Journal Title: International Research Journal of Applied and Basic Sciences - Year 2015, Vol 9, Issue 9
Abstract
In most exchanges around the world, researchers have conducted extensive studies on the investment performance of different strategies. The main reason financial specialists from research on investment strategies, the inability of the existing data by investors in the capital market and lack of expertise is sufficient. Researcher's investment strategies from diverse perspectives and approaches have been categorized. One of the most common categories of academic studies has been done about the growth and value strategies (Fama and French 1992). The purpose of this study is to evaluate the strategy of investment funds based on the growth and value criteria. The scope of my research is all active investment funds in the Tehran Stock Exchange that listed before 2011/09/22 and started its activities by the end of 2014 and its activities have continued. The data used in this research, portfolio funds eligible on the basis of the financial statements quarter contained on the site of Codal system and we chose the Book value to Market Value (BV/MV), Price to Earnings per share (P / E) rates, extract exchange rate from free market (ER) and Rate of Return (R) rate are based on three-month periods.
Authors and Affiliations
Amir Hoshang Jangi| Faculty member of Islamic Azad University of Firozkoh, Seyedeh Farokh Nikoo| Investment Fund Manager in Security Exchange Market and MS of Financial Management
Keywords
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