THE ROLE OF INVESTMENT FUNDS AND INVESTMENT COMPANIES IN THE SR ENTERPRISES SPHERE

At the beginning of the article the author analyzes the position of investment funds (IF) and investment companies (IC) in the market economy and their growing role on the capital market. Attention is given to the two basic ways of their behavior: 1) The Anglo-Saxon model, where the institutional investors are more oriented on the short-term efficiency than on the long-term strategy; typical is a high rate of shares, passing the capital market (U.S.A., Great Britain). 2) Model, where the capital market isn't as much important (F.R.G. and Japan) and where the amount of the IC registered on the stock market is very low; these companies are oriented on the long-term strategy and enterprises prosperity. The second part of the article deals with the IF's and IC's strategies in the SR. The large-scale IF will work as the universal funds that point out from the wide portfolio. They will try for an effective control of the enterprises management and their aim will be membership in the Supervisory Board, following the enterprises long-term prosperity. A contrario others will try to obtain the possible 20 % of majority and they won't diversify their investment activity. The medium - and smallscale IF will be oriented more on the dividends and on the short-term benefits mainly from their capital and personal assumptions point of view and they will be mostly specialized according to the industries or regions. At the end the author analyzes some factors, that influence the IF and IC quality and their position in the bearing Slovak capital market.