DESEMPEÑO DE FONDOS VINCULADOS AL AGRONEGOCIO EN BRASIL
DOI:
https://doi.org/10.4270/ruc.2025103Palabras clave:
Diversificación, Commodities, AgronegócioResumen
El objetivo de esta investigación consiste en evaluar el desempeño ajustado al riesgo de fondos brasileños que diversifican a través de activos relacionados con el agronegocio. La muestra, libre de sesgo de supervivencia, estuvo compuesta por fondos de acciones y fondos multimercados, considerando el período de enero de 2017 a marzo de 2023. Utilizando datos diarios, el desempeño se estimó trimestralmente con base en el Índice de Sharpe. La prueba de hipótesis se realizó mediante el análisis de datos en panel. Se utilizaron tres clases diferentes para representar los activos vinculados a la agroindustria, a saber: commodities agrícolas, títulos vinculados a la agroindustria y acciones de empresas vinculadas a la agroindustria. En general, se observó que los fondos que tienen activos vinculados al agronegocio en sus carteras no necesariamente tuvieron un mejor desempeño que sus pares. Se espera que los resultados del estudio motiven nuevas investigaciones en el área de fondos de inversión y activos vinculados al agronegocio.
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