Performance measurement of b type mutual funds in Turkey an application for the period 2004-2006

Today developments in financial markets have brought diversities in financial instruments and services. Investment opportunities in Turkey have been steadily multiplying, just as they are throughout the globe. It is quite difficult for small investors to develop an optimal investment diversification with respect to information, financial reasons and time. Mutual funds, which are indispensible instruments of flourishing markets, are the most appropriate instruments helping investors for such troubles. Mutual fund is an investment instrument that pools money from shareholders and invests in a variety of securities (treasury bill, government bond, stocks, repos and etc.) on the principle of risk dispersion. Mutual funds provide every type of investor the opportunity to convert their savings into investment in high diversification with respect to the combination of risk and returns. In this thesis, it was researched whether the selected three-year performance of three types of B type mutual funds which are mostly preferred by the investors in Turkey has been higher with the reference to the market portfolio performance. For this reason, Sharpe index used in accordance with Capital Asset Pricing Model, Treynor index and Jense index are used as performance measures.