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Monthly Investment Commentary
Monthly Investment Commentary

... hedge-fund strategies was triggered by our concern that stocks and bonds were priced to deliver belowaverage returns and expose investors to above-average risk. In theory, hedge funds could offer an alternative place to hang out, capturing decent returns with less volatility, while waiting for bette ...
Ch 24 Perf measurement 2/e
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... measurement. Contradict: If we adequately control for exposure to the market (i.e., adjust for beta), then market performance should not affect the relative performance of individual managers. It is therefore not necessary to wait for an entire market cycle to pass before evaluating a manager. 13. T ...
fixed income: mitigating risk through active management
fixed income: mitigating risk through active management

... of issuance and is not necessarily the duration that a given investor should hold. The optimal portfolio duration for an investor should be a function of his or her time horizon and risk profile, rather than that of the index. Said another way, duration can be thought of as exposure to the interest ...
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Invesco Short Term Bond Fund fact sheet

... will vary, and you may have a gain or a loss when you sell shares. Performance shown at NAV does not include applicable contingent deferred sales charges (CDSC) or front-end sales charges, which would have reduced the performance. Class C shares are sold without initial sales charge and are not subj ...
Conference Call
Conference Call

... 3.7 million with pre-approved credit, and 65.5% of these indeed using it. The pulverization of credit, combined with the approval models, has insured a good liquidity to the portfolios. •Outstanding Personal / Overdraft / Vehicles Loans: R$ 2.5 billion Credit Cards 110.2% increase over 1998; •70% of ...
Paper 15c: Section IV: policy objectives
Paper 15c: Section IV: policy objectives

... TRANSBOUNDARY ISSUES – Transboundary issues associated with the facility are effectively managed. GOVERNANCE – Measures are in place for comprehensive governance of project development, including risk assessment and management and anti-corruption measures. POLITICAL RISK – The ongoing political risk ...
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... Morgan and some other small positions under additional mutual fund holdings. JPMorgan has over 2.3 trillion in assets. Their mutual funds generally do not hold JPMorgan stock and, if it is allowed, it would be a minor position. This is more a hit on the bank’s core capital level which will be reduce ...
Structuring Private Funds to Profit from the Oil Price Decline
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... interest payments leading to bankruptcy filings. If lower prices are sustained, this financial pressure will continue over time as reserves are increasingly valued at lower prices, interest rates move upward and poorly hedged E&P companies and counterparties face unfavorable positions. In such a mar ...
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CHAPTER 1 : THE INVESTMENT ENVIRONMENT
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Discussion of “Coordinating Business Cycles” Christophe Chamley May 14, 2015
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... Extension to growth (many equilibria). In the STD model, the individual decision is not investment but a “capacity utilization”. Because of the equivalence of price and production in the imperfect competition model, this is equivalent to a lower cost of production. Endogenous labor (and capital) in ...
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... !There are four main types of financial assets: loans, bonds, stocks, and bank deposits. ! A loan is a lending agreement between a particular lender and a particular borrower. ! A bank deposit is a claim on a bank that obliges the bank to give the depositor his or her cash when demanded. ...
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... functioning capital (increase of the mass of the core and the circulating means of production) and improve qualitative parameters tools. The choice and adjustment of the desired quality characteristics of the means of production are managed. In the same sector in addition to these two directions of ...
Investment Analysis
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...  If it is too good to be true, it is! You can’t get a high return without any risk. Understand and apply the pricing principles on financial markets.  What should be taken into account? What factors determine the price? (Formulas are not the most important thing, the principles behind them are!) B ...
Australian Equities High Conviction Portfolio
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CIMB-Principal ASEAN Total Return Fund

... with temporary defensive positions and risk of investing in emerging markets. You can obtain a copy of the Fund Prospectus from the head office of CIMB-Principal Asset Management Berhad or from any of our approved distributors. Product Highlight Sheet ("PHS") is available and that investors have the ...
MainStay Epoch Global Equity Yield SMA
MainStay Epoch Global Equity Yield SMA

... periods for which sufficient data is available, the profile shows a composite of client accounts managed by the investment manager in the Fiduciary Services program. Through June 2012, Morgan Stanley offered the Fiduciary Services program through two channels - the Morgan Stanley channel and the Smi ...
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... The entry and exit charges shown are maximum figures. In some cases you might pay less. Actual entry and exit charges can be obtained from your financial adviser or distributor. The ongoing charges figure is an estimate based on expected total of charges. This figure may vary from year to year. Perf ...
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Investments and Their Characteristics

... with the hopes of large returns. An individual who is fifty-one years old, male, married with four children (two starting college next year), and is employed as a bus driver ($37,000), and has a modest amount of savings in his retirement might want to invest in more __________________________ invest ...
client investment profile - Davis Financial Management
client investment profile - Davis Financial Management

... appreciation, with the primary consideration being preservation of capital and current income. Some income will be withdrawn. E.g., I want the portfolio to produce income, but also provide enough principal growth so the income will keep pace, or outpace, inflation over a long-time horizon. ...
Oil Gold - CounterPoint Asset Management
Oil Gold - CounterPoint Asset Management

... seems dependent on manipulation by the major central banks to get risky asset prices higher regardless of business fundamentals. Our local stock picks had a positive month with our holdings in Anglos (+10.3%), Sasol (+6.0%), Billiton (+5.1) and Naspers (+2.7%) producing the largest value add. Our lo ...
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Investment management

Investment management is the professional asset management of various securities (shares, bonds and other securities) and other assets (e.g., real estate) in order to meet specified investment goals for the benefit of the investors. Investors may be institutions (insurance companies, pension funds, corporations, charities, educational establishments etc.) or private investors (both directly via investment contracts and more commonly via collective investment schemes e.g. mutual funds or exchange-traded funds).The term asset management is often used to refer to the investment management of collective investments, while the more generic fund management may refer to all forms of institutional investment as well as investment management for private investors. Investment managers who specialize in advisory or discretionary management on behalf of (normally wealthy) private investors may often refer to their services as money management or portfolio management often within the context of so-called ""private banking"".The provision of investment management services includes elements of financial statement analysis, asset selection, stock selection, plan implementation and ongoing monitoring of investments. Coming under the remit of financial services many of the world's largest companies are at least in part investment managers and employ millions of staff.Fund manager (or investment advisor in the United States) refers to both a firm that provides investment management services and an individual who directs fund management decisions.According to a Boston Consulting Group study, the assets managed professionally for fees reached an all-time high of US$62.4 trillion in 2012, after remaining flat-lined since 2007. Furthermore, these industry assets under management were expected to reach US$70.2 trillion at the end of 2013 as per a Cerulli Associates estimate.The global investment management industry is highly concentrated in nature, in a universe of about 70,000 funds roughly 99.7% of the US fund flows in 2012 went into just 185 funds. Additionally, a majority of fund managers report that more than 50% of their inflows go to just three funds.
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