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master's thesis
22
3
Interest rate immunization for the government bonds of republic of Croatia
Valentina Jaklenec (2015)
University of Zagreb
Faculty of Economics and Business
Cite this item:
https://urn.nsk.hr/urn:nbn:hr:148:573164
Metadata
Title
Kamatna imunizacija državnih obveznica Republike Hrvatske
Author
Valentina Jaklenec
Mentor(s)
Davor Zoričić
(thesis advisor)
Abstract
Državne obveznice Republike Hrvatske emitirane su na domaćem i stranom tržištu. U radu su analizirane državne obveznice na domaćem tržištu kojima se trguje na Zagrebačkoj burzi. U te obveznice u najvećoj mjeri ulažu mirovinski fondovi zbog zakonske regulative koja polazi od toga da je riječ o domaćim vrijednosnim papirima najvišeg stupnja sigurnosti. Nakon njih slijede obveznički investicijski fondovi i banke. Cilj ovog rada je prikazati kako kako se kamatnom imunizacijom može se eliminirati kamatni rizik prilikom ulaganja u državne obveznice i kreirati kamatno imuniziran portfelj obveznica. Pritom će se koristiti koncept trajanja i kamatne imunizacije na primjerima državnih obveznica koje su predmet trgovanja na Zagrebačkoj burzi.
Keywords
government bonds
Zagreb Stock Exchange
portfolio
investment
interest rate immunization
Parallel title (English)
Interest rate immunization for the government bonds of republic of Croatia
Committee Members
Denis Dolinar
(committee chairperson)
Andrija Sabol
(committee member)
Granter
University of Zagreb
Faculty of Economics and Business
Place
Zagreb
State
Croatia
Scientific field, discipline, subdiscipline
SOCIAL SCIENCES
Economics
Study programme type
university
Study level
graduate
Study programme
Business Economics
Academic title abbreviation
mag. oec.
Genre
master's thesis
Language
Croatian
Defense date
2015-09-30
Parallel abstract (English)
Governmetnt bonds of Republic of Croatia are issued at domestic and forgein markets. The paper analyzes government bonds at domestic market traded on the Zagreb Stock Exchange. The largest investors in this bonds are persion fonds becuase of law regulations which stems from the fact that government bonds are the safest securities. After pension fonds, in government bonds are investing bond mutual fonds and banks. The purpose of the paper is to show how interest rate immunization eliminates interest rate risk during investing in bonds and how to create protected portfolio. That will be achieved by using the concepts of duration and interest rate immunization at the example of government bonds traded on the Zagreb Stock Exchange.
Parallel keywords (Croatian)
državne obveznice
Zagrebačka burza
portfelj
ulaganje
kamatna imunizacija
Resource type
text
Access condition
Access restricted to students and staff of home institution
Terms of use
URN:NBN
https://urn.nsk.hr/urn:nbn:hr:148:573164
Committer
Davorka Jukica