The TODIM multi-criteria method applied to the ANBIMA ranking of Brazilian investment funds

Abstract

ANBIMA, the Brazilian Financial and Capital Markets Association, monthly presents the ranking of investment funds management by category. This ranking makes available information about the management of resources from players that invested in funds in Brazil. The institutions that are included in this ranking are ordered based on the total amount of the net equity under management in all categories of investment funds. The research presented in this article applies the TODIM multi-criteria method for building the ANBIMA ranking of June 2017 using the ten best-positioned institutions. In order to accomplish this, each participating institution is considered as an alternative and each category of investment fund functions as a criterion. This allows for a comparison between the ANBIMA ranking against the ranking obtained by using the TODIM method. This comparison points to the possibility of making use of a new, enriched system to order the institutions based on pairwise analyses and taking into account expressions of gains and losses.

A multi-criteria support for the cost-effectiveness analysis of health interventions/ Uma contribuição multicritério para a análise de custo-efetividade de medicamentos

“…PROMÉTHÉE II performs a pairwise difference of alternatives' performances on each criterion, aiming to establish a ranking of alternatives [33]. In the TODIM pairwise comparisons the positive and negative differences, i.e., results from subtracting performance measures, are expressed in a distinct way [28,29,34]. In ELECTRE methods, when subtracting the performances of two alternatives to obtain the concordance and discordance indexes, not all values of subtractions are used [35].…”