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Wolski Rafał (Uniwersytet Łódzki), Załęczna Magdalena (Uniwersytet Łódzki)
Nieruchomość jako składnik portfela inwestycyjnego funduszu emerytalnego
Immovables as a Component of Investment Portofolio of Retiring Funds
Studia Prawno-Ekonomiczne, 2009, t. 79, s. 225-239, rys., tab., bibliogr. 25 poz.
Studies in Law and Economics
Nieruchomości, Inwestowanie, Fundusze emerytalne, Portfel inwestycyjny
Real estate, Investing, Pension funds, Investment portfolio
W artykule przeanalizowano działalność inwestycyjną funduszy emerytalnych. Omówiono takie zagadnienia jak: zasady i regulacje inwestycyjne na szczeblu międzynarodowym, aktywa w portfelach inwestycyjnych funduszy emerytalnych, fundusze emerytalne w świetle polskiej regulacji. Autorzy artykułu przeprowadzili i opisali także badanie wpływu dodania nieruchomości do portfela inwestycyjnego funduszu emerytalnego.

Legal limitations in Poland regarding activities of retiring funds exclude their direct investing in immovables, which leads to the decreasing of their diversification options, and consequently - in the authors' to this paper opinion - to increasing potential investment risks. By means of some quantitative methods the authors analyze the effectiveness of investment portfolios of the retiring funds in Poland. The purpose of the present research is to achieve an answer to the question whether adding immovables to the investment portfolios of the Polish retiring funds would result in their better diversification and effectiveness.(original abstract)
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