| Abstract [eng] |
In master's thesis, while using theoretical and practical aspects I have evaluated correlation of investment return and risk of 2nd and 3rd pillar's pension funds that is distributed in Lithuania and suggested some opportunities how evalution of pension fund investment could be more detail and accurate. In this thesis I have carried out the net asset modeling of second pillar pension funds and while using statistical programs derived formula of it. In accordance of my thesis I have used scientific and public literature and annual financial reports and reviews of pension fund's. The obtained data confirmed the hypothesis. The most effective managed pension fund's belongs to INVL, as their correlation of investment return and risk is best if compare to others. The number of members of funds has direct impact on the fund's net asset value. Accumulation for part of the pension from the second pillar pension fund consists of: accumulation period, the average salary, fund fees, investment returns. With age, in order to gather the maximum amount of money, it's worth to change the part of shares in funds or in other words - to rely on life-cycle theory in the period of accumulation. The part of the pension in the 3rd pillar is determined by the size of contributions, the fund charges, the accumulation period and profitability during the period - all these elements leads to the additional part of pension that the participant will receive from the accumulation of pension funds. In order to accumulate the maximum and that the accumulated amount could reach 70% of current income, it is necessary to evaluate the fund manager's investment strategy and participate in both - 2nd and 3rd pillar's. |
