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Please use this identifier to cite or link to this item: https://hdl.handle.net/2445/221883
Teoría de carteras: gestión activa y pasiva
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El objetivo de este trabajo es comprender y exponer de manera detallada la teoría de gestión de carteras, partiendo de los fundamentos teóricos establecidos en el ámbito de las finanzas. En particular, se aborda el análisis de la teoría desarrollada por Harry Markowitz, que introduce el concepto de diversificación y optimización de carteras mediante la maximización del retorno esperado y la minimización del riesgo. Adicionalmente, se estudiará el modelo de Capital Asset Pricing Model (CAPM), el cual propone una relación entre el riesgo de un activo y su rendimiento esperado, sirviendo como una herramienta clave para la valoración de activos.
A lo largo del trabajo, se explorarán las diferencias y similitudes entre los enfoques de gestión de carteras activas y pasivas, destacando las ventajas y desventajas de cada uno en la práctica financiera. Finalmente, se aplicarán estos modelos teóricos en un caso práctico, que permitirá visualizar y comparar su efectividad en la gestión real de carteras de inversión, proporcionando conclusiones sobre su utilidad y aplicación en diferentes contextos de mercado.
The objective of this work is to understand and present in detail the theory of portfolio management, based on the theoretical foundations established in the field of finance. In particular, the analysis focuses on the theory developed by Harry Markowitz, which introduces the concept of diversification and portfolio optimization through the maximization of expected return and the minimization of risk. Additionally, the Capital Asset Pricing Model (CAPM) will be studied, which proposes a relationship between an asset’s risk and its expected return, serving as a key tool for asset valuation. Throughout this work, the differences and similarities between active and passive portfolio management approaches will be explored, highlighting the advantages and disadvantages of each in financial practice. Finally, these theoretical models will be applied in a practical case, allowing for the visualization and comparison of their effectiveness in the real-world management of investment portfolios, providing conclusions about their utility and application in different market contexts.
The objective of this work is to understand and present in detail the theory of portfolio management, based on the theoretical foundations established in the field of finance. In particular, the analysis focuses on the theory developed by Harry Markowitz, which introduces the concept of diversification and portfolio optimization through the maximization of expected return and the minimization of risk. Additionally, the Capital Asset Pricing Model (CAPM) will be studied, which proposes a relationship between an asset’s risk and its expected return, serving as a key tool for asset valuation. Throughout this work, the differences and similarities between active and passive portfolio management approaches will be explored, highlighting the advantages and disadvantages of each in financial practice. Finally, these theoretical models will be applied in a practical case, allowing for the visualization and comparison of their effectiveness in the real-world management of investment portfolios, providing conclusions about their utility and application in different market contexts.
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Treballs Finals del Doble Grau d'Administració i Direcció d'Empreses i de Matemàtiques, Facultat d'Economia i Empresa i Facultat de Matemàtiques i Informàtica, Universitat de Barcelona, Curs: 2024-2025, Tutors: David Márquez Carreras i Josep Vives i Santa Eulàlia
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MAYA BREUKERS, Dylan. Teoría de carteras: gestión activa y pasiva. [consulted: 11 of June of 2026]. Available at: https://hdl.handle.net/2445/221883