03278ntm a22005057i 4500 000548763 CZ-PrVSE 20180915190850.0 m d cr n|||||||||| 180915s2018 xr fsbm 000 0 eng d NEZPRACOVANÝ IMPORT ABA006 cze ABA006 ABA006 rda Luňáček, Martin ISIS:100779 dis Daňové dopady portfolio rebalance pro České investory eng The tax impacts of the portfolio rebalance for Czech investors / Martin Luňáček 2018 ?? stran : digital, PDF soubor Vedoucí práce: Luboš Smrčka Diplomová práce (Ing.)—Vysoká škola ekonomická v Praze. Fakulta podnikohospodářská, 2018 Obsahuje bibliografii Textový (vysokoškolská kvalifikační práce) Rok obhajoby 2018 Within the area of portfolio management, this thesis deals with the issue of automated portfolio rebalancing which has gained popularity recently – mainly due to the upswing of so-called robo advisors, which are using modern technologies to automate and streamline processes. The thesis focused on costs and benefits of rebalancing, special attention was paid to tax impacts of rebalancing. The results of the simulation of globally diversified portfolio rebalancing using various strategies on a historical market data from the years 2006-2017 mainly support the findings that rebalancing helps maintaining portfolio allocation while the positive impact on risk-return trade-off in real life environment is debatable. The tax costs of rebalancing are highly dependent on rebalancing frequency and market performance in a particular year. In the observed period, the rebalancing strategies with ten percent drift threshold and either weekly or monthly monitoring proved to generate the best results – they slightly increased risk-adjusted returns and resulted in only on average 3 yearly rebalancing events producing taxable amount worth about one percent of the total average portfolio value. Given various rebalancing strategies, the annual portfolio returns decreased by on average 0,2-0,6 % due to the tax costs related to rebalancing. Způsob přístupu: Internet international management [obor dipl. práce] diplomové práce fd132022 czenas master's theses eczenas Rebalancing Tax costs Wealth management Robo advisor Smrčka, Luboš ola2007404644 ths Žilák, Pavel ISIS:2346 opn Vysoká škola ekonomická v Praze. Podnikohospodářská fakulta kn20010709402 dgg https://insis.vse.cz/zp/66343/podrobnosti VŠKP v InSIS https://insis.vse.cz/zp/66343 Hlavní práce https://insis.vse.cz/zp/66343/posudek/vedouci Hodnocení vedoucího https://insis.vse.cz/zp/66343/posudek/oponent/58591 Oponentura https://insis.vse.cz/zp/66343/podrobnosti dc:identifier NEPOSILAT VSKP vse66343 180908 66343