ABSTRACT
This work searchs to explore the field of financial investment fund, that even so is very boarded for literature, has explored basically in deep of market and free wallet. However this work searched to explore in providence investment fund ones, that has received little attention in terms from empirical studies in Brazil. The general objective was to verify the performance of the deep ones, with equity upper the R$ 100 millions, in the understood period it enters the years of 2003 and 2004. The performance heading, was made a survey of the monthly returns of each deep and calculated its shunting line-standard, as defining of the risk of the returns. Also the calculation of the correlation was used, comparing the returns of the deep ones with one benchmark, assigned for the CDI of the respective period. Soon after that the Index of Sharpe was calculated as performance parameter. When analyzing the results, evidenced that the deep ones, in its great majority, keep a positive correlation with benchmark (more not all) and that the performance through the returns is not total compatible with the index of Sharpe. Also it was found that the returns in the two analyzed years, not to obtain to surpass the CDI, characterizing of this form inefficiency in the management of the deep ones.
KEYWORDS:
Investiment funds; Volatileness; Sharpe; Interest rate; CDI
