Raziskava primernosti naložbenih produktov za različna življenjska obdobja

diplomsko delo univerzitetnega študija Organizacija in management poslovnih in delovnih sistemov

Matevž Tratar (Author), Aleš Novak (Mentor)

Abstract

V diplomski nalogi smo s primerjavo različnih teorij razpršitve naložbenega portfelja poskušali dokazati pomembnost razpršitve, spremljanja in spreminjanja naložbenih produktov, v katerem posameznik varčuje. Na začetku smo predstavili osnovno teorijo ter predstavili razloge in motive, zaradi katerih se posameznik odloči za varčevanje. Opisali in razčlenili smo finančne trge ter finančne institucije, preko katerih posameznik svoje prihranke prenese na druge ekonomske celice. Kot kriterije in dejavnike pri odločanju za obliko varčevanja smo v nadaljevanju predstavili donosnost, tveganost, likvidnost in stroške. Po opisu in razčlenitvi najpogostejših naložbenih produktov smo slednje, na podlagi prej omenjenih kriterijev in dejavnikov, med seboj primerjali ter izpostavili njihove prednosti in slabosti. Da bi potrdili oz. ovrgli naše teze, smo si ogledali različne teorije razpršitve naložbenega portfelja glede na starost varčevalca. Predstavili smo pomen primerne diverzifikacije naložbenega portfelja, predvsem z vidika donosnosti in tveganosti. Slednja dejavnika sta glede na življenjski cikelj posameznika in njegove navade različno pomembna, zato smo predstavili tri modele razpršitve naložbenega portfelja. Konvencionalni model alokacije glede na starost, ki se ga mnogi poimenujejo tudi »100 minus leta«, narekuje naložbeni portfelj, ki svojo visoko tveganost in potencialno donosnost postopoma linerano zmanjšuje za 1 odstotno točko letno. Drugi predstavljeni model, imenovan »Flight path asset allocation model«, predvideva, da se bo posameznik resneje posvečal izbiri in spremljanju svojih naložb, hkrati pa z vidika tveganosti in donosnosti predvideva začetno zadržanost zaradi neizkušenosti, medtem ko se obdobje večjega tveganja in potencialne donosnosti v primerjavi s konvencionalnim modelom znatno podaljša. Tretji model z imenom »Gone fishin'« predvideva spreminjanje portfelja enkrat na leto, pri čemer se sredstva v naložbah zgolj prerazporedijo v prvotno razmerje med posameznimi naložbami v različne vrste naložb. Na koncu smo vse tri omenjene teorije med seboj primerjali, ponovno poudarili nekatere prednosti in slabosti posameznih naložbenih produktov, ter v razpravi potrdili teze.

Keywords

varčevanje;finančni trgi;finančne institucije;

Data

Language:	Slovenian
Year of publishing:	2014
Typology:	2.11 - Undergraduate Thesis
Organization:	UM FOV - Faculty of Organizational Sciences
Publisher:	[M. Tratar]
UDC:	005
COBISS:	7391763
Views:	1143
Downloads:	105
Average score:	0 (0 votes)
Metadata:

Other data

Secondary language:	English
Secondary title:	INVESTMENT PRODUCT SUITABILITY ASSESSMENT FOR DIFFERENT LIFE PERIODS
Secondary abstract:	By comparing different theories of spreading an investment portfolio this diploma thesis serves to demonstrate the importance of spreading, monitoring and changing investment products in which an individual is saving. At the beginning we present the basic theory, the reasons and motives which lead to someone's decision to start saving. We describe and analyse financial markets and financial institutions through which someone transfers one's savings to other economic cells. Then we describe lucrativeness, risk, liquidity and expenses which represent important criteria and factors when deciding for the method of saving. After describing and analysing the most common investment products we, on the basis of the previously mentioned criteria and factors, compare them and highlight their advantages and disadvantages. In order to confirm or refute our hypotheses, we take a look at different theories of spreading an investment portfolio, depending on the saver’s age. We also present the importance of a suitable diversification of an investment portfolio, primarily in terms of profitability and riskiness. These two factors have, considering an individual's life-cycle and one's habits, various levels of importance, therefore we present three models of spreading an investment portfolio. The conventional model of allocation based on age, which has been named by many »100 minus age«, dictates an investment portfolio which gradually, one percentage point per year, linearly decreases its high risk and potential return. The second presented model, named »Flight path asset allocation model«, according to which an individual is expected to be seriously committed when choosing and monitoring ones' investments, predicts, as regards risks and returns, the initial reluctance due to inexperience, whereas the period of a higher risk and potential return is considerably prolonged in comparison with the conventional model. The third model, named »Gone fishin’«, anticipates the changing of portfolio once a year, wherein the resources in investments are just appropriated to the initial ratio between the individual investments into different types of investments. At the end we compare the three theories mentioned above, once again highlight some advantages and disadvantages of individual investment products, and then we confirm the hypotheses in a discussion.
Secondary keywords:	saving;financial markets;financial institutions;investment products;spreading investment portfolio;
URN:	URN:SI:UM:
Type (COBISS):	Bachelor thesis/paper
Thesis comment:	Univ. v Mariboru, Fak. za organizacijo dela
Pages:	52 f.
ID:	8700794