The asset management industry is one of the essential sources of economic growth

in a country since it functions as an intermediary between savings and investments.

The asset management industry is also important for financial markets to ensure new

funds and it helps investors to achieve their investment goals. Therefore, the aim of

this study is to analyze the fund management industry in an emerging market. In this

book, we first reviewed the fund performance measurement ratios and then evaluated

these performance measures of mutual and pension funds in Turkey between

2010 and 2019 to determine whether the funds generate alphas (excess returns). The

risk-adjusted performance measures (Sharpe, Treynor, Information, Jensen’s alpha,

Sortino, and Omega ratios) were calculated to see if the funds generated excess

risk-adjusted returns during the analyzed period.