The Performance Comparison of Weighted Stock Mutual Funds

In this study, our intend is to compare the performances of weighted stock mutual funds trading in Turkey in 3 years time between 2006 November - 2009 November period and to investigate the timing abilities of the mutual fund managers. For this purpose, we created equal numbers of fund groups including pension funds, Exchange-Traded Funds and A type stock mutual funds. Subsequently, the risk adjusted various performance measurement techniques and the methods that ascertain the timing abilities of the mutual fund managers are applied on the funds in three groups and the results are commented. According to these results, in the analysis period, it is figured that generally the A type stock mutual funds and pension funds’ performances are close to each other and it is ascertained that both funds have better performance than Exchange-Traded Funds. Furthermore, according to the results of the methods that are used in order to examine the timing abilities of the portfolio managers in the analysis period, all the funds in the fund groups couldn’t get values that can be seen statistically meaningful. Consequently, it is understood that the fund managers are not successful in the strategies of timing in markets.