diversified growth funds - Pensions and Lifetime Savings Association
... and tactical asset allocation, with greater focus on risk management 3. Absolute Return Funds: aiming to deliver a target return, that is often formulated as Libor/cash +, to be delivered in all market conditions. These strategies rely heavily on the fund manager’s expertise to deliver alpha to ach ...
... and tactical asset allocation, with greater focus on risk management 3. Absolute Return Funds: aiming to deliver a target return, that is often formulated as Libor/cash +, to be delivered in all market conditions. These strategies rely heavily on the fund manager’s expertise to deliver alpha to ach ...
Banking fragility and distress: An econometric study of
... The (micro)theoretical foundation of this study is closely related to the credit default approach, which, in turn, is originally based on Merton’s (1974) option theoretic approach. A number of macro-economic credit risk studies have been published recently where default rates are modelled according ...
... The (micro)theoretical foundation of this study is closely related to the credit default approach, which, in turn, is originally based on Merton’s (1974) option theoretic approach. A number of macro-economic credit risk studies have been published recently where default rates are modelled according ...
Social lending - cloudfront.net
... The principal focus for this report is social lending – providing a loan which must be repaid. The loan may be secured in some way and may pay interest even if it is at a rate lower than that charged by a bank. But sometimes a loan is not the best arrangement. A social investor may provide a guarant ...
... The principal focus for this report is social lending – providing a loan which must be repaid. The loan may be secured in some way and may pay interest even if it is at a rate lower than that charged by a bank. But sometimes a loan is not the best arrangement. A social investor may provide a guarant ...
Evidence from Real Estate Private Equity
... is locked into the fund for several years and is only freed upon its liquidation. Because of this long-term commitment, careful selection of funds and fund managers may be of even greater importance for REPE than for investments offering a quick exit option. Our study sets out to investigate whether ...
... is locked into the fund for several years and is only freed upon its liquidation. Because of this long-term commitment, careful selection of funds and fund managers may be of even greater importance for REPE than for investments offering a quick exit option. Our study sets out to investigate whether ...
The Swaps Market: A Case Study Detailing Market
... is not exchanged in an interest rate swap. Exhibit 1 illustrates, via a diagram, the basic schematics of an interest rate swap. The diagram shows that the notional payments need not be exchanged in an interest rate swap. Additionally, in an interest rate swap, only the net differential of the fixed ...
... is not exchanged in an interest rate swap. Exhibit 1 illustrates, via a diagram, the basic schematics of an interest rate swap. The diagram shows that the notional payments need not be exchanged in an interest rate swap. Additionally, in an interest rate swap, only the net differential of the fixed ...
Trends in Institutional Investor Use of Fixed Income ETFs
... “At times active managers have difficulty beating their benchmarks and ETFs are considerably less expensive.” – Pension fund ...
... “At times active managers have difficulty beating their benchmarks and ETFs are considerably less expensive.” – Pension fund ...
The Hedge Fund Edge
... promulgated under the Securities Act. Restrictions for such exemptions may involve a limit on the type or number of investors, the size of the offering, or interstate dealings. Under Section 5, hedge funds with U.S. investors typically rely on Rule 506. A key requirement under Rule 506 is the “accre ...
... promulgated under the Securities Act. Restrictions for such exemptions may involve a limit on the type or number of investors, the size of the offering, or interstate dealings. Under Section 5, hedge funds with U.S. investors typically rely on Rule 506. A key requirement under Rule 506 is the “accre ...
Compound Interest: Your Best Friend or Worst Enemy
... amount that people save/invest (called their principal), plus previously credited interest. As the American Savings Education Council notes in one of its publications, “this phenomenon goes on and on-packing your savings with power and moving you steadily toward your goals. Over time, the results ca ...
... amount that people save/invest (called their principal), plus previously credited interest. As the American Savings Education Council notes in one of its publications, “this phenomenon goes on and on-packing your savings with power and moving you steadily toward your goals. Over time, the results ca ...
Credit Misallocation During the Financial Crisis
... problem illustrated above. Moreover, given the exogeneity of banks capitalization, we can estimate regressions without province-sector-year fixed effects and recover the absolute (and not just relative) effect of bank capitalization on the performance of healthy firms. These are our main results. In ...
... problem illustrated above. Moreover, given the exogeneity of banks capitalization, we can estimate regressions without province-sector-year fixed effects and recover the absolute (and not just relative) effect of bank capitalization on the performance of healthy firms. These are our main results. In ...
Evaluating Managers: Are We Sending the Right
... left-hand side of the figure charts Years ended December 31 . . . information ratios from those 100 funds that had the highest Morningstar large growth funds Russell 1000 Growth Index information ratios from 1997 through Note: Thirty-six-month rolling information ratio versus Russell 1000 Growth Ind ...
... left-hand side of the figure charts Years ended December 31 . . . information ratios from those 100 funds that had the highest Morningstar large growth funds Russell 1000 Growth Index information ratios from 1997 through Note: Thirty-six-month rolling information ratio versus Russell 1000 Growth Ind ...
Small Business Lending Matrix and Analysis
... As they did in the previous three years, banks will continue to have sufficient funds available to meet the demand for franchise unit transactions in 2013. FRANdata projects that bank willingness to lend will improve for both SBA and conventional lenders. However, they will still not make sufficient ...
... As they did in the previous three years, banks will continue to have sufficient funds available to meet the demand for franchise unit transactions in 2013. FRANdata projects that bank willingness to lend will improve for both SBA and conventional lenders. However, they will still not make sufficient ...
Inflation Targeting, Reserves Accumulation, and Exchange Rate
... Recent financial and exchange rate crises in Mexico 1994-95, Asia 1997-98, Argentina 2001-2, and other emerging economies have been attributed, to a large extent, to a shortage of international liquidity, that is, a large excess of potential short term liabilities over assets in international curren ...
... Recent financial and exchange rate crises in Mexico 1994-95, Asia 1997-98, Argentina 2001-2, and other emerging economies have been attributed, to a large extent, to a shortage of international liquidity, that is, a large excess of potential short term liabilities over assets in international curren ...
Regulation and Market Liquidity - University of British Columbia
... A balanced view of the potential adverse welfare consequences of such provision is summarized in Duffie (2012): “The Agencies’ proposed implementation of the Volcker Rule would reduce the quality and capacity of market making services that banks provide to U.S. investors. Investors and issues of sec ...
... A balanced view of the potential adverse welfare consequences of such provision is summarized in Duffie (2012): “The Agencies’ proposed implementation of the Volcker Rule would reduce the quality and capacity of market making services that banks provide to U.S. investors. Investors and issues of sec ...
Fidelity Advisor® Series Stock Selector Large Cap Value Fund
... 1. No Transaction Fee Fidelity funds are available without paying a trading fee to Fidelity or a sales load to the fund. However, the fund may charge a short-term trading or redemption fee to protect the interests of long-term shareholders of the fund. Shares are subject to the fund's management and ...
... 1. No Transaction Fee Fidelity funds are available without paying a trading fee to Fidelity or a sales load to the fund. However, the fund may charge a short-term trading or redemption fee to protect the interests of long-term shareholders of the fund. Shares are subject to the fund's management and ...
Endowment Investment Policy
... of return on total Endowment Fund assets, with a concern for stability and preservation of principal. 3. When selecting securities, the investment manager(s) or investment advisor(s) without discretion (brokers) are expected to prudently diversify the investments of the Endowment fund consistent wit ...
... of return on total Endowment Fund assets, with a concern for stability and preservation of principal. 3. When selecting securities, the investment manager(s) or investment advisor(s) without discretion (brokers) are expected to prudently diversify the investments of the Endowment fund consistent wit ...
Vo l u m e 6 6 ... C o n t e n t s
... so that they can decide the appropriate setting for interest ...
... so that they can decide the appropriate setting for interest ...
Forward Guidance in the Yield Curve: Short Rates versus Bond Supply
... guidance,” in which they guide market expectations about the path of future short rates. Because QE alters the maturity structure of the government debt that is available to the public, it changes the amount of duration risk that market participants must bear, thereby impacting bond risk premia and ...
... guidance,” in which they guide market expectations about the path of future short rates. Because QE alters the maturity structure of the government debt that is available to the public, it changes the amount of duration risk that market participants must bear, thereby impacting bond risk premia and ...
NORTHEAST BANCORP /ME/ (Form: 10
... advantage in bidding against private equity funds on performing loans because those funds generally have higher funding costs and, therefore, higher expectations for return on investment than we do. Furthermore, private equity funds typically do not compete for small balance commercial loans and typ ...
... advantage in bidding against private equity funds on performing loans because those funds generally have higher funding costs and, therefore, higher expectations for return on investment than we do. Furthermore, private equity funds typically do not compete for small balance commercial loans and typ ...
financial stability, systemic risk and macroprudential policy
... vicious cycle can arise in the contraction phase. If the desirable adjustment is combined with strong increase in general uncertainty, a sharp fall in access to external financing due to capital or balance-sheet liquidity problems in banks, and with panic selling of overvalued assets, the downward mo ...
... vicious cycle can arise in the contraction phase. If the desirable adjustment is combined with strong increase in general uncertainty, a sharp fall in access to external financing due to capital or balance-sheet liquidity problems in banks, and with panic selling of overvalued assets, the downward mo ...
EAST WEST BANCORP INC (Form: 10-Q, Received
... verbs. You should not place undue reliance on these statements, as they are subject to risks and uncertainties, including, but not limited to, those described in the documents incorporated by reference. When considering these forward-looking statements, you should keep in mind these risks and uncert ...
... verbs. You should not place undue reliance on these statements, as they are subject to risks and uncertainties, including, but not limited to, those described in the documents incorporated by reference. When considering these forward-looking statements, you should keep in mind these risks and uncert ...
Chapter 13 Current Liabilities and Contingencies
... products or services, a liability is created to return the deposit or to supply the products or services. For instance, if a utility company collects a deposit when service is begun for a new customer, a liability, say “Liability – refundable deposits,” is recorded. Similarly, a magazine publisher r ...
... products or services, a liability is created to return the deposit or to supply the products or services. For instance, if a utility company collects a deposit when service is begun for a new customer, a liability, say “Liability – refundable deposits,” is recorded. Similarly, a magazine publisher r ...
Important Information about Hedge Funds
... registered investment advisers until the fund(s) they manager have $150 million or more in total assets. Lack of Liquidity: Ownership interests in hedge funds are considered to be illiquid. They generally cannot be sold or otherwise transferred and there is no secondary trading market for them. Hedg ...
... registered investment advisers until the fund(s) they manager have $150 million or more in total assets. Lack of Liquidity: Ownership interests in hedge funds are considered to be illiquid. They generally cannot be sold or otherwise transferred and there is no secondary trading market for them. Hedg ...
The real impacts of financial constraints. An investigation using
... (by 9%), marketing expenditures (by 33%), and dividend payments (by 14%) in 2009.” Although these statistics are based on the U.S. economy, they paint a good picture as to the costs that the presence of financially constrained firms could also have in other developed economies such as Canada. Financ ...
... (by 9%), marketing expenditures (by 33%), and dividend payments (by 14%) in 2009.” Although these statistics are based on the U.S. economy, they paint a good picture as to the costs that the presence of financially constrained firms could also have in other developed economies such as Canada. Financ ...
Managing The Leverage Cycle
... Observe that the Down Payment axis has been reversed, because lower down payment requirements are correlated with higher home prices. Note: For every AltA or Subprime first loan originated from Q1 2000 to Q1 2008, down payment percentage was calculated as appraised value (or sale price if available) ...
... Observe that the Down Payment axis has been reversed, because lower down payment requirements are correlated with higher home prices. Note: For every AltA or Subprime first loan originated from Q1 2000 to Q1 2008, down payment percentage was calculated as appraised value (or sale price if available) ...
Payment, clearing and settlement systems in Brazil
... Furthermore, a new rule was introduced concerning the accounts that financial institutions hold at the BCB: since 2002, overdrafts have no longer been permitted.3 Hence, a funds transfer between two settlement accounts is allowed only if there are sufficient funds on the account of the remitting ins ...
... Furthermore, a new rule was introduced concerning the accounts that financial institutions hold at the BCB: since 2002, overdrafts have no longer been permitted.3 Hence, a funds transfer between two settlement accounts is allowed only if there are sufficient funds on the account of the remitting ins ...