La gestión de carteras de renta fija

Abstract

In this paper, the bond portfolio management is analyzed. It is divided in three parts. The first of them studies how the bond's yield to the maturity and of their portfolios are obtained. In the second part, the bond's risk is studied through the two very importants concepts as they are duration and convexity; their uses, advantages and drawbacks are analyzed deeply. In the last part, we enter in the bond portfolio management. We will study the pasive management that is undertaken by the managers that believe in the efficient market intermediate hipothesis. And, al so, we will continue with the active management for the investors that think the market is not so efficient.