The measurement of the portfolio performance of Borsa Istanbul city indices

The diversity of financial instruments in the market is increasing day by day due to the fact that the capital market is a market which has been developing recently in Turkey. This diversity makes the capital markets attractive for the inverstors. In this study, the investment which are on its stocks of the city indices from capital market investments which are one of the diversities was analyzed. Furthermore, in this study , the city indices were on the assessments as performance of investments to its stocks. The city indices are the indices which were founded to monitor the performance of price and revenue of the companies whose main manufacture or activity centers have taken place in the same city since the early 2009. The city indices counted for the cities in which there are at least five companies whose shares are processed are Adana, Ankara, Antalya, Balıkesir, Bursa, Denizli, İstanbul, İzmir, Kayseri, Kocaeli, Konya and Tekirdag since the year 2013. While the city indices were nine in 2009, the number reached ten in 2011 in conjunction with Balikesir. With Konya and Denizli, it became twelve starting from the year 2013. As a conclusion, it is aimed to reflect the performances of the shares of the companies in the city while it is provided that the investors will invest in the city they want with the only instrument owing to gold exchange traded fund. In this study, the performances of the city indices in Turkey between 2009 and 2012 for a period of four years are compared with BIST national-100 index performance preferred as the market portfolio. Additionally, the city indices are compared with each other in the study. Along with this aim, Sharpe Index, M2 performance scale, Treynor Index, T2 performance scale, and the assessment methods of the performance of Jensen Index which are used as based upon the Capital Asset Pricing Model. Keywords: Portfolio Management, Capital Asset Pricing Model, Index Revenue, The City indexes, Portfolio Performance.