{"id":2965,"date":"2022-01-17T00:38:54","date_gmt":"2022-01-16T23:38:54","guid":{"rendered":"https:\/\/www.forexsrovnavac.cz\/mag\/?p=2965"},"modified":"2022-12-14T19:59:29","modified_gmt":"2022-12-14T18:59:29","slug":"podilove-fondy-vyhody-a-zkusenosti","status":"publish","type":"post","link":"https:\/\/www.forexsrovnavac.cz\/mag\/podilove-fondy-vyhody-a-zkusenosti\/","title":{"rendered":"Pod\u00edlov\u00e9 fondy v\u00fdhody a zku\u0161enosti"},"content":{"rendered":"<h2>Pod\u00edlov\u00e9 fondy<\/h2>\n<p>V dne\u0161n\u00ed dob\u011b se popularit\u011b t\u011b\u0161\u00ed p\u0159edev\u0161\u00edm <strong>pod\u00edlov\u00e9 fondy otev\u0159en\u00e9.<\/strong> Tyto fondy se zakl\u00e1daj\u00ed na principu shroma\u017e\u010fov\u00e1n\u00ed men\u0161\u00edch pen\u011b\u017en\u00edch prost\u0159edk\u016f od drobn\u00fdch investor\u016f, kter\u00e9 se pak kumulativn\u011b pou\u017e\u00edvaj\u00ed za \u00fa\u010delem investov\u00e1n\u00ed do r\u016fzn\u00fdch fond\u016f za \u00fa\u010delem zhodnocen\u00ed. Investuje v\u0161ak spr\u00e1vce fondu (v\u011bt\u0161inou velk\u00e9 finan\u010dn\u00ed instituce), ne jednotliv\u00ed \u00fa\u010dastn\u00edci. Vkl\u00e1d\u00e1n\u00ed pen\u011b\u017e m\u016f\u017ee n\u011bkomu p\u0159ipom\u00ednat investov\u00e1n\u00ed do akciov\u00fdch fond\u016f, jeliko\u017e za investovan\u00e9 prost\u0159edky<strong> obdr\u017e\u00edte tkz. pod\u00edlov\u00e9 listy<\/strong> kter\u00e9 maj\u00ed svou hodnotu a dr\u017eiteli d\u00e1vaj\u00ed n\u00e1rok na \u010d\u00e1st v\u00fdnosu z fondu. Velikost t\u00e9to \u201c\u010d\u00e1sti\u201d z\u00e1le\u017e\u00ed na mno\u017estv\u00ed pod\u00edlov\u00fdch list\u016f kter\u00e9 klient vlastn\u00ed.<\/p>\n<p>Na rozd\u00edl od jin\u00fdch finan\u010dn\u00edch produkt\u016f V\u00e1m pod\u00edlov\u00e9 fondy <strong>nab\u00eddnou v\u00fdhodu v rozlo\u017een\u00ed rizika<\/strong> (a to mezi ostatn\u00edmi investory) a mo\u017enost p\u0159enech\u00e1n\u00ed operace s prost\u0159edky na profesion\u00e1ln\u00edch mana\u017eerech kte\u0159\u00ed se zab\u00fdvaj\u00ed hled\u00e1n\u00edm vhodn\u00fdch investi\u010dn\u00edch p\u0159\u00edle\u017eitost\u00ed. Od v\u00fdsledku t\u011bchto investic se n\u00e1sledn\u011b odv\u00edj\u00ed hodnota pod\u00edlov\u00e9ho fondu jako celku, a t\u00edm p\u00e1dem i hodnotu pod\u00edlov\u00fdch list\u016f, kter\u00e9 jsou dr\u017eeny individu\u00e1ln\u00edmi klienty.<\/p>\n<p><strong>Existuje pom\u011brn\u011b velk\u00e9 mno\u017estv\u00ed druh\u016f pod\u00edlov\u00fdch fond\u016f<\/strong>, kter\u00e9 pou\u017e\u00edvaj\u00ed odli\u0161n\u00fdch prost\u0159edk\u016f k zhodnocen\u00ed vlo\u017een\u00fdch prost\u0159edk\u016f. P\u0159ed samotn\u00fdm investov\u00e1n\u00edm do jak\u00fdchkoli fondu, by si m\u011bl ka\u017ed\u00fd pozorn\u011b nastudovat v\u0161echny podm\u00ednky, potenci\u00e1ln\u00ed v\u00fdhody, nev\u00fdhody, legislativu a i nap\u0159\u00edklad poplatky, za \u00fa\u010delem vyvarov\u00e1n\u00ed se nep\u0159\u00edjemn\u00fdm p\u0159ekvapen\u00edm. Pod\u00edlov\u00e9 fondy nab\u00edz\u00ed spousty v\u00fdhod oproti jin\u00fdm finan\u010dn\u00edm produkt\u016fm, je ov\u0161em pot\u0159eba zv\u00e1\u017eit i jejich existuj\u00edc\u00ed nev\u00fdhody.<\/p>\n<h2>D\u011blen\u00ed pod\u00edlov\u00fdch fond\u016f<\/h2>\n<p>Pod\u00edlov\u00e9 fondy se d\u011bl\u00ed na n\u011bkolik druh\u016f, a to p\u0159edev\u0161\u00edm dle prim\u00e1rn\u011b u\u017eit\u00fdch n\u00e1stroj\u016f. Krom\u011b toho se v\u0161ak li\u0161\u00ed i investi\u010dn\u00edmi c\u00edli nebo nap\u0159\u00edklad \u010dasov\u00fdm horizontem zhodnocen\u00ed prost\u0159edk\u016f. Tyto druhy pod\u00edlov\u00fdch fond\u016f jsou.<\/p>\n<ul>\n<li><strong>Fondy pen\u011b\u017en\u00edch trh\u016f<\/strong> \u2013 tento druh fond\u016f je ze v\u0161ech pod\u00edlov\u00fdch fond\u016f nejroz\u0161\u00ed\u0159en\u011bj\u0161\u00edm. Toto je zp\u016fsobeno p\u0159edev\u0161\u00edm velmi n\u00edzkou kol\u00edsavost\u00ed ceny a t\u00edm p\u00e1dem sn\u00ed\u017eenou rizikovost\u00ed, co\u017e se v\u0161ak vrac\u00ed velmi n\u00edzk\u00fdm zhodnocen\u00edm kter\u00e9 je schopno pokr\u00fdt inflaci, a jen v m\u00e1lo p\u0159\u00edpadech vyd\u011blat i n\u011bco v\u00edce. V p\u0159\u00edpad\u011b fond\u016f pen\u011b\u017en\u00edch trh\u016f se investuje p\u0159edev\u0161\u00edm do dluhopis\u016f s kr\u00e1tkou dobou do splatnosti, a hod\u00ed se tud\u00ed\u017e pro investice v kr\u00e1tk\u00e9m \u010dasov\u00e9m horizontu (do jednoho roku).<\/li>\n<li><strong>Akciov\u00e9 fondy<\/strong> \u2013 v\u011bt\u0161ina prost\u0159edk\u016f kter\u00e9 se ukl\u00e1daj\u00ed do akciov\u00fdch fond\u016f se pou\u017e\u00edvaj\u00ed pro obchodov\u00e1n\u00ed na akciov\u00fdch trz\u00edch. Charakteristikou t\u011bchto fond\u016f je velmi vysok\u00e1 rizikovost kter\u00e9 se v\u0161ak vrac\u00ed v potenci\u00e1ln\u00edm zhodnocen\u00ed vlo\u017een\u00fdch prost\u0159edku. Kv\u016fli vysok\u00e9mu riziku jsou tyto fondy nejziskov\u011bj\u0161\u00ed z pohledu dlouhodob\u00e9 investice a to minim\u00e1ln\u011b na p\u011bt let. Rozlo\u017een\u00edm investice do dlouh\u00e9ho \u010dasov\u00e9ho intervalu se zmen\u0161uje riziko ztr\u00e1ty.<\/li>\n<li><strong>Dluhopisov\u00e9 fondy<\/strong> \u2013 tento font je co se rizikovosti t\u00fd\u010de ihned za fondy pen\u011b\u017en\u00edmi. Prost\u0159edky jsou investov\u00e1ny do dluhopis\u016f, mal\u00e1 \u010d\u00e1st z nich v\u0161ak m\u016f\u017ee b\u00fdt investov\u00e1na i do akci\u00ed.<\/li>\n<li><strong>Sm\u00ed\u0161en\u00e9 fondy<\/strong> \u2013 tyto fondy se skl\u00e1daj\u00ed z investic jak do akci\u00ed tak i do dluhopis\u016f. \u010casov\u00fd horizont t\u011bchto investic je pohybuje okolo p\u011bti let. Hlavn\u00ed v\u00fdhodou tohoto pod\u00edlov\u00e9ho fondu je mo\u017enost m\u011bnit pod\u00edl investic kter\u00e9 jsou investov\u00e1ny do akci\u00ed v p\u0159\u00edpad\u011b jejich propadu a naopak, co\u017e m\u016f\u017ee zna\u010dn\u011b sn\u00ed\u017eit potenci\u00e1ln\u00ed riziko.<\/li>\n<li><strong>Fondy fond\u016f<\/strong><\/li>\n<li><strong>Zaji\u0161t\u011bn\u00e9 fondy<\/strong> \u2013 jak ji\u017e \u017e n\u00e1zvu vypl\u00fdv\u00e1, tento druh pod\u00edlov\u00fdch fond\u016f se vyzna\u010duje zaji\u0161t\u011bnou n\u00e1vratnost\u00ed aspo\u0148 vlo\u017een\u00fdch prost\u0159edk\u016f, a hod\u00ed se tedy p\u0159edev\u0161\u00edm pro lidi kte\u0159\u00ed nemaj\u00ed chu\u0165 riskovat jakoukoli v\u00fd\u0161i vkladu. Zaji\u0161t\u011bn\u00ed vkladu je v\u0161ak podm\u00edn\u011bn\u00e9 vstupn\u00edmi poplatky. Co se \u010dasov\u00e9ho horizontu t\u00fd\u010de tak jsou zaji\u0161t\u011bn\u00e9 fondy vyzna\u010deny pevnou \u201cvkladn\u00ed\u201d dobou, kter\u00e1 se nej\u010dast\u011bji pohybuje od t\u0159\u00ed do p\u011bti let.<\/li>\n<\/ul>\n<h3>Mezi p\u0159edn\u00ed v\u00fdhody pak pat\u0159\u00ed<\/h3>\n<ul>\n<li><strong>Velk\u00fd v\u00fdb\u011br pod\u00edlov\u00fdch fond\u016f<\/strong> \u2013 nab\u00edz\u00ed je des\u00edtky, ne-li stovky finan\u010dn\u00edch instituc\u00ed.<\/li>\n<li>Jednoduchost investov\u00e1n\u00ed bez hlub\u0161\u00edch znalost\u00ed t\u00fdkaj\u00edc\u00edch se finan\u010dn\u00edch trh\u016f. Samotnou investici, a\u0165 u\u017e na akciov\u00fdch \u010di dluhopisov\u00fdch trz\u00edch za V\u00e1s prov\u00e1d\u00ed profesion\u00e1ln\u00ed investo\u0159i.<\/li>\n<li>Diverzifikace rizika d\u00edky rozlo\u017een\u00ed zdroj\u016f investic.<\/li>\n<li><strong>Vysok\u00e1 likvidita<\/strong> u otev\u0159en\u00fdch pod\u00edlov\u00fdch fond\u016f \u2013 spr\u00e1vce fond\u016f je od V\u00e1s povinen odkoupit Va\u0161e pod\u00edlov\u00e9 listy. Odpadaj\u00ed tak probl\u00e9my s hled\u00e1n\u00edm potenci\u00e1ln\u00edho kupce.<\/li>\n<li>P\u0159\u00edjmy z pod\u00edlov\u00fdch fond\u016f se dan\u00ed v\u00fdhodn\u011bj\u0161\u00ed sazbou. P\u0159i dr\u017een\u00ed zakoupen\u00fdch pod\u00edlov\u00fdch list\u016f po dobu v\u011bt\u0161\u00ed ne\u017e \u0161est m\u011bs\u00edc\u016f se dokonce v\u00fdnos nemus\u00ed danit v\u016fbec<\/li>\n<\/ul>\n<h3>Na druhou stranu zde v\u0161ak existuj\u00ed i zna\u010dn\u00e9 nev\u00fdhody<\/h3>\n<ul>\n<li><strong>Poplatky<\/strong> jsou vy\u0161\u0161\u00ed ne\u017e nap\u0159\u00edklad u term\u00ednovan\u00fdch vklad\u016f, tud\u00ed\u017e samotn\u00e9 zhodnocen\u00ed prost\u0159edk\u016f vlo\u017een\u00fdch do pod\u00edlov\u00fdch fond\u016f m\u016f\u017ee trvat del\u0161\u00ed dobu.<\/li>\n<li>Vklady do pod\u00edlov\u00fdch fond\u016f nejsou poji\u0161t\u011bny vl\u00e1dou, jako tomu \u010dasto b\u00fdv\u00e1 u jin\u00fdch fond\u016f. P\u0159i zkrachov\u00e1n\u00ed pod\u00edlov\u00e9ho fondu je \u0161ance z\u00edsk\u00e1n\u00ed vlo\u017een\u00fdch prost\u0159edk\u016f zp\u011bt nulov\u00e1.<\/li>\n<li>I p\u0159esto \u017ee nemus\u00edte b\u00fdt zku\u0161en\u00fdm obchodn\u00edkem m\u016f\u017ee b\u00fdt n\u00e1vratnost investic do pod\u00edlov\u00fdch fond\u016f ovlivn\u011bna dobou. Toto se t\u00fdk\u00e1 nap\u0159\u00edklad akciov\u00fdch trh\u016f, pro kter\u00e9 jsou dlouhodob\u00e9 p\u00e1dy a r\u016fsty typick\u00e9.<\/li>\n<li>Vlo\u017e\u00edte-li tedy sv\u00e9 prost\u0159edky do akciov\u00e9ho fondu ve \u0161patnou dobu, m\u016f\u017eete o jejich \u010d\u00e1st p\u0159ij\u00edt.<\/li>\n<li>V\u011bt\u0161ina investic do pod\u00edlov\u00fdch fond\u016f jsou dlouhodob\u00e9 a je nev\u00fdhodn\u00e9 kupovat pod\u00edlov\u00e9 listy v p\u0159\u00edpad\u011b \u017ee hled\u00e1te kr\u00e1tkodob\u00e9 investi\u010dn\u00ed p\u0159\u00edle\u017eitosti.<\/li>\n<\/ul>\n<h2>Jak funguj\u00ed pod\u00edlov\u00e9 fondy?<\/h2>\n<p>Jak ji\u017e bylo naps\u00e1no,<strong> pod\u00edlov\u00e9 fondy maj\u00ed za c\u00edl shrom\u00e1\u017edit drobn\u00e9 \u010d\u00e1stky<\/strong> za \u00fa\u010delem investov\u00e1n\u00ed do r\u016fzn\u00fdch fond\u016f, v z\u00e1vislosti na pou\u017eit\u00e9m instrumentu. Pod\u00edlov\u00e9 fondy jako takov\u00e9 se v\u0161ak prim\u00e1rn\u011b d\u011bl\u00ed na fondy otev\u0159en\u00e9 a zav\u0159en\u00e9. Zat\u00edmco otev\u0159en\u00e9 fondy nab\u00edzej\u00ed mo\u017enost pod\u00edlov\u00e9 listy kdykoliv zp\u00e1tky prodat spr\u00e1vci fondu, zav\u0159en\u00e9 pod\u00edlov\u00e9 fondy toto neumo\u017e\u0148uj\u00ed a pod\u00edlov\u00e9 listy mus\u00ed b\u00fdt obchodov\u00e1ny na burze. Jsou to pr\u00e1v\u011b otev\u0159en\u00e9 pod\u00edlov\u00e9 fondy, kter\u00e9 se v posledn\u00edch letech t\u011b\u0161\u00ed popularit\u011b.<\/p>\n<p>Z pohledu legislativy jsou v\u0161echny pod\u00edlov\u00e9 fondy pod dohledem Komise pro cenn\u00e9 pap\u00edry, kter\u00e9 mus\u00ed ka\u017ed\u00e9mu fondu ud\u011blit pat\u0159i\u010dn\u00e9 povolen\u00ed pro shroma\u017e\u010fov\u00e1n\u00ed prost\u0159edk\u016f a jejich n\u00e1sledn\u00e9 investov\u00e1n\u00ed. \u010cinnost jak\u00e9hokoli fondu je regulov\u00e1na z\u00e1konem \u010d.248\/1992 Sb o investi\u010dn\u00edch spole\u010dnostech a investi\u010dn\u00edch fondech ve zn\u011bn\u00ed pozd\u011bj\u0161\u00edch novel.<\/p>\n<p>Je v\u0161ak velmi d\u016fle\u017eit\u00e9 podotknout, \u017ee investov\u00e1n\u00ed do pod\u00edlov\u00fdch fond\u016f rozhodn\u011b nen\u00ed bezrizikov\u00e9. Investice jsou prov\u00e1d\u011bny finan\u010dn\u00edmi investicemi kter\u00e9 v\u0161ak ani p\u0159es sv\u016fj rozm\u011br nem\u016f\u017eou zajistit bez rizikov\u00e9 investice. Investice p\u0159in\u00e1\u0161ej\u00edc\u00ed negativn\u00ed v\u00fdsledky se tedy stejn\u011b tak i odraz\u00ed v klientov\u00fdch pod\u00edlov\u00fdch listech.<\/p>\n<ul>\n<li><strong>Co je to Bilan\u010dn\u00ed hodnota fondu<\/strong><\/li>\n<\/ul>\n<p>Bilan\u010dn\u00ed hodnota fondu &#8211; Koeficient P\/B pod\u00edlov\u00e9ho fondu p\u0159edstavuje v\u00e1\u017een\u00fd pr\u016fm\u011br ukazatel\u016f P \/ B v\u0161ech akc\u00ed, kter\u00e9 jsou v portfoliu fondu.<\/p>\n<p>Bilan\u010dn\u00ed hodnota aktiv p\u0159edstavuje celkovou \u010d\u00e1stku aktiv, od kter\u00fdch se ode\u010d\u00edtaj\u00ed pasiva fondu. Ukazatel P \/ B akcie spole\u010dnosti se vypo\u010d\u00edt\u00e1v\u00e1 cestou rozd\u011blen\u00ed tr\u017en\u00ed ceny jej\u00edch akci\u00ed, kter\u00e9 se nach\u00e1zej\u00ed v obratu, tr\u017en\u00ed hodnotu aktiv spole\u010dnosti a n\u00e1slednou korekc\u00ed z\u00edskan\u00e9ho ukazatele po\u010dtem akci\u00ed nach\u00e1zej\u00edc\u00edch se v ob\u011bhu.<\/p>\n<p>Akcie se z\u00e1pornou bilan\u010dn\u00ed hodnotu aktiv se z v\u00fdpo\u010dt\u016f vylu\u010duj\u00ed. P\u0159i v\u00fdpo\u010dtu pr\u016fm\u011brn\u00e9ho P \/ B fondu Morningstar p\u0159ipisuje ka\u017ed\u00e9 akci v\u00e1hu v souladu s jej\u00ed v\u00e1hou v portfoliu fondu. Znamen\u00e1 to, \u017ee akcie s v\u011bt\u0161\u00edmi pozicemi maj\u00ed proporcion\u00e1ln\u011b v\u011bt\u0161\u00ed vliv na kone\u010dn\u00fd ukazatel fondu P \/ B.<\/p>\n<ul>\n<li><strong>Vyv\u00e1\u017een\u00e1 investi\u010dn\u00ed strategie<\/strong><\/li>\n<\/ul>\n<p>Vyv\u00e1\u017een\u00e1 investi\u010dn\u00ed strategie (Balanced investment strategy) &#8211; Metoda rozd\u011blen\u00ed aktiv a \u0159\u00edzen\u00ed portfolia pod\u00edlov\u00e9ho fondu zam\u011b\u0159ena na vyv\u00e1\u017een\u00ed v\u00fdnosnosti a m\u00edry rizika. Vyv\u00e1\u017een\u00e9 portfolio m\u016f\u017ee zahrnovat obligace, zabalen\u00e9 finan\u010dn\u00ed produkty a vysoce likvidn\u00ed n\u00e1stroje srovnateln\u00e9 s hotovost\u00ed, nap\u0159\u00edklad pokladni\u010dn\u00ed pouk\u00e1zky.<\/p>\n<h2>Rozd\u011blen\u00ed Fond\u016f<\/h2>\n<ul>\n<li><strong>Vz\u00e1jemn\u00fd fond<\/strong><\/li>\n<\/ul>\n<p>Vz\u00e1jemn\u00fd fond &#8211; (Mutual Fund) &#8211; Americk\u00fd term\u00edn pro fond, kter\u00fd m\u00e1 formu akciov\u00e9 spole\u010dnosti.<\/p>\n<p>Fond p\u0159edstavuje portfolio akci\u00ed, obligac\u00ed a \/ nebo hotovosti, kter\u00e9 investi\u010dn\u00ed spole\u010dnost \u0159\u00edd\u00ed jm\u00e9nem a na z\u00e1klad\u011b dohody s mno\u017estv\u00edm investor\u016f. Kdy\u017e si investo\u0159i kupuj\u00ed akcie fondu, z\u00edsk\u00e1vaj\u00ed pod\u00edl v \u0161irok\u00e9m investi\u010dn\u00edm portfoliu, jeho\u017e majiteli jsou spolu s ostatn\u00edmi akcion\u00e1\u0159i fondu. Mana\u017eer vz\u00e1jemn\u00e9ho fondu investuje sv\u011b\u0159en\u00e9 finan\u010dn\u00ed prost\u0159edky v souladu s investi\u010dn\u00edmi c\u00edly, kter\u00e9 jsou v prospektu fondu.<\/p>\n<ul>\n<li><strong>Dluhopisov\u00e9 fondy<\/strong><\/li>\n<\/ul>\n<p>Bond Funds &#8211; Fondy, jejich\u017e minim\u00e1ln\u011b 80% aktiv je investov\u00e1no do dluhopis\u016f, maj\u00ed pojmenov\u00e1n\u00ed dluhopisov\u00e9 fondy. Dluhopisov\u00e9 fondy se d\u011bl\u00ed na dv\u011b z\u00e1kladn\u00ed skupiny &#8211; fondy zdan\u011bn\u00fdch v\u00fdnos\u016f a fondy komun\u00e1ln\u00edch obligac\u00ed.<\/p>\n<ul>\n<li><strong>Deriv\u00e1tov\u00fd fond<\/strong><\/li>\n<\/ul>\n<p>Derivative fund &#8211; Fond, kter\u00fd investuje pouze do odvozen\u00fdch cenn\u00fdch pap\u00edr\u016f jako jsou futures, opce a warranty (op\u010dn\u00ed listy).<\/p>\n<ul>\n<li><strong>Fond alokace aktiv<\/strong><\/li>\n<\/ul>\n<p>Fond alokace aktiv (Asset Allocation Fund &#8211; AAF Fond), kter\u00fd na z\u00e1klad\u011b vzorce optim\u00e1ln\u00edho rozd\u011blen\u00ed vkl\u00e1d\u00e1 disponibiln\u00ed aktiva do r\u016fzn\u00fdch kategori\u00ed aktiv jako do akci\u00ed, obligac\u00ed a jin\u00fdch finan\u010dn\u00edch n\u00e1stroj\u016f, s c\u00edlem zajistit diverzifikaci portfolia a stabiln\u00ed r\u016fst. V\u011bt\u0161ina AAF investuje maxim\u00e1ln\u011b 25% aktiv do jedn\u00e9 t\u0159\u00eddy cenn\u00fdch pap\u00edr\u016f.<\/p>\n<ul>\n<li><strong>Fond komun\u00e1ln\u00edch dluhopis\u016f<\/strong><\/li>\n<\/ul>\n<p>Fond komun\u00e1ln\u00edch dluhopis\u016f (Municipal Bond Funds) &#8211; Tyto fondy investuj\u00ed do dluh\u016f ve form\u011b cenn\u00fdch pap\u00edr\u016f vyd\u00e1van\u00fdch samospr\u00e1vami. Operace s nimi se d\u011blaj\u00ed v podob\u011b investi\u010dn\u00edch trust\u016f nebo otev\u0159en\u00fdch pod\u00edlov\u00fdch fond\u016f. N\u011bkter\u00e9 z nich se specializuj\u00ed na dluhopisy vydan\u00e9 v jedn\u00e9 samospr\u00e1vn\u00e9 jednotce, dal\u0161\u00ed ve v\u00edce samospr\u00e1vn\u00fdch jednotk\u00e1ch. Zna\u010dnou v\u00fdhodou t\u011bchto fond\u016f b\u00fdv\u00e1 p\u0159\u00edzniv\u00e9 zdan\u011bn\u00ed. N\u00ed\u017ee je v\u0161ak nejen zdan\u011bn\u00ed t\u011bchto fond\u016f, ale i jejich v\u00fdnosy.<\/p>\n<ul>\n<li><strong>Fondy bez zat\u00ed\u017een\u00ed<\/strong><\/li>\n<\/ul>\n<p>Fondy bez zat\u00ed\u017een\u00ed (No-load funds) &#8211; fondy, kter\u00e9 prod\u00e1vaj\u00ed sv\u00e9 cenn\u00e9 pap\u00edry p\u0159\u00edmo investor\u016fm, bez pomoci makl\u00e9\u0159\u016f a nevyb\u00edraj\u00ed speci\u00e1ln\u00ed poplatky p\u0159ipo\u010d\u00edt\u00e1v\u00e1ny k cen\u011b cenn\u00e9ho pap\u00edru. Viz tak\u00e9: \u00davodn\u00ed zat\u00ed\u017een\u00ed (Front-end Load), Kone\u010dn\u00e9 zat\u00ed\u017een\u00ed \/ v\u00fdstupn\u00ed poplatek (Back-end Load),, Poplatek za prodej (Sales charge).<\/p>\n<ul>\n<li><strong>Vyv\u00e1\u017een\u00fd fond<\/strong><\/li>\n<\/ul>\n<p>Vyv\u00e1\u017een\u00fd fond (Balanced Fund) je Kategorie pod\u00edlov\u00fdch fond\u016f, kter\u00e9 diverzifikuj\u00ed portfolio prost\u0159ednictv\u00edm rozd\u011blen\u00ed aktiv mezi obligace, akcie, privilegovan\u00e9 akce, \u010d\u00edm\u017e se sna\u017e\u00ed zajistit stabiln\u00ed p\u0159\u00edjem a r\u016fst. Tyto fondy maj\u00ed tak\u00e9 pojmenov\u00e1n\u00ed hybridn\u00ed fondy (hybrid funds). Pro identifikaci investi\u010dn\u00edho stylu t\u011bchto fond\u016f pro n\u011b analytick\u00e1 spole\u010dnost Morningstar sestavuje dv\u011b matrice: matrici investi\u010dn\u00edho stylu fondu, specializuj\u00edc\u00edho se na akcie a matrici investi\u010dn\u00edho stylu fondu specializuj\u00edc\u00edho se na cenn\u00e9 pap\u00edry s pevn\u00fdm v\u00fdnosem.<\/p>\n<h3>Hedgeov\u00e9 fondy<\/h3>\n<p>Co to jsou Hedgeov\u00e9 fondy (Hedge Funds) &#8211; Soukrom\u00e9 investi\u010dn\u00ed sdru\u017een\u00ed (investment pools), jejich\u017e z\u00e1kladn\u00edm \u00fakolem je maximalizace zisku cestou vyu\u017eit\u00ed rizikov\u00fdch investi\u010dn\u00edch spekulativn\u00edch strategi\u00ed a odvozen\u00fdch cenn\u00fdch pap\u00edr\u016f.<\/p>\n<ul>\n<li><strong>Jak funguj\u00ed Hedgeov\u00e9 fondy<\/strong><\/li>\n<\/ul>\n<p>Hedgeov\u00e9 fondy jsou velmi pru\u017en\u00e9 ve v\u00fdb\u011bru strategi\u00ed a n\u00e1stroj\u016f investov\u00e1n\u00ed. Minim\u00e1ln\u00ed velikost investice do t\u011bchto fond\u016f je obvykle 1 mil. USD. Podle americk\u00fdch z\u00e1kon\u016f (National Securities Markets Improvement Act of 1996), slu\u017eby zaji\u0161\u0165ovac\u00edch fond\u016f jsou p\u0159\u00edstupn\u00e9 jen individu\u00e1ln\u00edm investor\u016fm s kapit\u00e1lem vy\u0161\u0161\u00edm ne\u017e 5 mil. USD. Podobn\u00e9 normy byly rozpracov\u00e1ny proto, aby p\u0159ipustily k investov\u00e1n\u00ed do fond\u016f tohoto typu jen velmi kvalifikovan\u00fdch investor\u016f. V sou\u010dasnosti Hedgeov\u00e9 fondy pracuj\u00ed t\u00e9m\u011b\u0159 v\u00fdhradn\u011b pro institucion\u00e1ln\u00ed investory.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pod\u00edlov\u00e9 fondy m\u016f\u017eou zaujmout p\u0159edev\u0161\u00edm v\u00fdnosy, kter\u00e9 ve srovn\u00e1n\u00ed s jin\u00fdmi bankovn\u00edmi produkty m\u016f\u017eou dosahovat pom\u011brn\u011b vysok\u00fdch \u010d\u00edsel. Pod\u00edlov\u00e9 fondy jsou mo\u017enost\u00ed, jak ulo\u017eit sv\u00e9 voln\u00e9 prost\u0159edky za \u00fa\u010delem zhodnocen\u00ed p\u0159es ur\u010dit\u00e9 obdob\u00ed. <\/p>\n","protected":false},"author":1,"featured_media":2970,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"","_seopress_titles_title":"","_seopress_titles_desc":"Jak\u00e9 nab\u00edzej\u00ed pod\u00edlov\u00e9 fondy v\u00fdnosy? V\u00fdhody a nev\u00fdhody investic a spo\u0159en\u00ed do pod\u00edlov\u00fdch fond\u016f. Princip fungov\u00e1n\u00ed.","_seopress_robots_index":"","_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[194],"tags":[],"class_list":["post-2965","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-akcie"],"modified_by":"Krpensk\u00fd Martin","_links":{"self":[{"href":"https:\/\/www.forexsrovnavac.cz\/mag\/wp-json\/wp\/v2\/posts\/2965","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.forexsrovnavac.cz\/mag\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.forexsrovnavac.cz\/mag\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.forexsrovnavac.cz\/mag\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.forexsrovnavac.cz\/mag\/wp-json\/wp\/v2\/comments?post=2965"}],"version-history":[{"count":0,"href":"https:\/\/www.forexsrovnavac.cz\/mag\/wp-json\/wp\/v2\/posts\/2965\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.forexsrovnavac.cz\/mag\/wp-json\/wp\/v2\/media\/2970"}],"wp:attachment":[{"href":"https:\/\/www.forexsrovnavac.cz\/mag\/wp-json\/wp\/v2\/media?parent=2965"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.forexsrovnavac.cz\/mag\/wp-json\/wp\/v2\/categories?post=2965"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.forexsrovnavac.cz\/mag\/wp-json\/wp\/v2\/tags?post=2965"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}