Perfil3 Essay

7763 words - 31 pages

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César Fuentes Cruz Presidente del Directorio Popular S.A. Sociedad Administradora de Fondos de Inversión Profesor Asociado Universidad ESAN Aldo Fuertes Anaya Gerente General Popular S.A. Sociedad Administradora de Fondos de Inversión Consultor Asociado de Universidad ESAN Gustavo Inouye Arévalo Gerente de Operaciones y Estudios Popular S.A. Sociedad Administradora de Fondos de Inversión Consultor Asociado de Universidad ESAN
Setiembre 2007
Fuentes, C., Fuertes, A. y Inouye, G. ( 2007 ). Estrategias de portafolio : riesgos implícitos de inversión en la Bolsa de Valores de Lima (32 p.) Lima : ESAN . (022924)

Riesgos Implícitos de Inversión en la Bolsa de Valores de
César Fuentes Cruz
Presidente del Directorio
Popular S.A. Sociedad Administradora de Fondos de Inversión
Profesor Asociado Universidad ESAN
Aldo Fuertes Anaya
Gerente General
Popular S.A. Sociedad Administradora de Fondos de Inversión
Consultor Asociado de Universidad ESAN
Gustavo Inouye Arévalo
Gerente de Operaciones y Estudios
Popular S.A. Sociedad Administradora de Fondos de Inversión
Consultor Asociado de Universidad ESAN
Setiembre 2007
Las opiniones expresadas en el presente documento son personales y de responsabilidad de los autores y no comprometen ni
reflejan las opiniones de la Universidad ESAN ni de Popular S.A. Sociedad Administradora de Fondos de Inversión. Los
errores u omisiones son de entera responsabilidad de los autores. Para cualquier comentario y sugerencia pueden escribir a, o .
ABSTRACT La inversión en mercados de valores es una operación que trae consigo niveles de
riesgos ampliamente estudiados. Sin embargo, existen algunos riesgos implícitos en la
inversión en la Bolsa de Valores de Lima observados en la presente investigación que
constituyen aspectos clave a ser tomados en cuenta por los inversionistas, en especial,
por inversionistas institucionales como los fondos de inversión. Entre los factores de
riesgos que presenta el mercado de valores peruano se encuentran: el alto nivel de
concentración de propiedad y la reducida flotación libre de acciones (free float), la
coexistencia de las negociaciones extrabursátiles y el mecanismo centralizado de
negociación (rueda de bolsa) como medios para negociar las mismas acciones, las
divergencias en las metodologías de valorización, en la determinación rigurosa de la
Prima por Riesgo de Mercado y en el tratamiento Prima por Voto en los procesos de
valorización; la ausencia de regulación con respecto a la cantidad mínima de analistas
bursátiles (Coverage)...

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