Iluzja, marzenia a rzeczywistość – bezpośrednia i niebezpośrednia inwestycja w indeksy giełdowe na przykładzie produktów inwestycyjnych

In the article the author attempts to compare direct and non-direct investment in the stock indices. By direct investment the author meansthe buying a particular index on the Warsaw Stock Exchange strictly preferred by the investor stock exchange. While the indirect investment is an investment in bank structured products based on stock indices, namely products of which the final result depends on the formation of the indices. It is assumed that structured products complement or even replace the traditional investments in stocks, bonds and deposits. The investment in a structured product is to be for investors a substitute for direct investment in the index and listed companies, raw materials, baskets investment, real estate, and other instruments. The question that arises here is: are structured products really substitutes for traditional investments and whether they give satisfactory returns to investors? The question was answered in the article defining the rate of return of structured products based on companies and stock indices ended 31.12.2013 on the Polish capital market. The results regarding the structured products launched and completed during the period 1.01.2000 – 31.12.2013 on the Polish capital market, were compared with the rate of return of selected indices. For the comparative analysis the following indices were selected: the Hang Seng, Dow Jones, WIG, WIG 20, Hang Seng, Nikkei, Shanghai Composite.