Insurance market report 2015
... There were virtually no changes in the structure of investments. The largest part (56 percent) was held as fixed-interest securities, consisting primarily of government and corporate bonds in Swiss francs and euros. The low and in some cases negative interest rates were conducive to portfolio restru ...
... There were virtually no changes in the structure of investments. The largest part (56 percent) was held as fixed-interest securities, consisting primarily of government and corporate bonds in Swiss francs and euros. The low and in some cases negative interest rates were conducive to portfolio restru ...
1.8 billion.
... A full review of Residential inventory carrying values and Apartments projects resulted in pre-tax impairments of $425 million against seven of 66 Residential Communities projects and six of nine Apartments projects. These impairments related primarily to projects in NSW, where the market was partic ...
... A full review of Residential inventory carrying values and Apartments projects resulted in pre-tax impairments of $425 million against seven of 66 Residential Communities projects and six of nine Apartments projects. These impairments related primarily to projects in NSW, where the market was partic ...
eurazeo sells approximately one third of its stake in elis
... In economic terms, Eurazeo will hold, directly and via LH27, 22.6% of the capital, compared with 35.1% prior to the Transaction. Marc Frappier, Managing Director of Eurazeo Capital, declared: “Elis has successfully developed itself in recent years, expanding its international reach to become a promi ...
... In economic terms, Eurazeo will hold, directly and via LH27, 22.6% of the capital, compared with 35.1% prior to the Transaction. Marc Frappier, Managing Director of Eurazeo Capital, declared: “Elis has successfully developed itself in recent years, expanding its international reach to become a promi ...
Survey Expectations and the Equilibrium Risk
... This leads to equilibrium asset prices which help to explain a number of empirical patterns of the stock markets. The risk-return trade off is as follows. Under Bayesian beliefs, return volatility is always counter-cyclical. This obtains because transient risk –which inherits the counter-cyclical d ...
... This leads to equilibrium asset prices which help to explain a number of empirical patterns of the stock markets. The risk-return trade off is as follows. Under Bayesian beliefs, return volatility is always counter-cyclical. This obtains because transient risk –which inherits the counter-cyclical d ...
Capital raising in Australia
... facing major global investment banks (including concerns about the solvency of some) during the period September 2008 to March 2009, made obtaining underwriting support very difficult for periods beyond a few days. However, the actual experience of equity capital raising in Australia, and many other ...
... facing major global investment banks (including concerns about the solvency of some) during the period September 2008 to March 2009, made obtaining underwriting support very difficult for periods beyond a few days. However, the actual experience of equity capital raising in Australia, and many other ...
DOCX file of IMPACT-Australia: Investment for social and
... not-for-profit and philanthropic investors an opportunity to achieve their goals. However, until recently, neither these organisations nor the traditional investor groups they depend on were ready to fully and confidently embrace the idea. Here in Australia, the concept's potential has not been well ...
... not-for-profit and philanthropic investors an opportunity to achieve their goals. However, until recently, neither these organisations nor the traditional investor groups they depend on were ready to fully and confidently embrace the idea. Here in Australia, the concept's potential has not been well ...
privatization process
... Voucher participants and investment privatization funds ordered shares. Investment funds could hold at most 20 % of company This orders was collected and processed in Center for voucher privatization It led to several situations ...
... Voucher participants and investment privatization funds ordered shares. Investment funds could hold at most 20 % of company This orders was collected and processed in Center for voucher privatization It led to several situations ...
The Leverage Rotation Strategy
... In addition to facing margin requirements, certain institutional investors such as pension plans, mutual funds, and endowments are simply unable to borrow money to invest beyond their portfolio’s asset value based on stated mandates and regulatory requirements. For those institutional investors who ...
... In addition to facing margin requirements, certain institutional investors such as pension plans, mutual funds, and endowments are simply unable to borrow money to invest beyond their portfolio’s asset value based on stated mandates and regulatory requirements. For those institutional investors who ...
Foreign Direct Investment and Foreign Portfolio Investment
... However, when investors want to sell their investment prematurely, because of a liquidity shock, they will get lower price if they are conceived by the buyer to have more information. Because, other investors know That the seller has information on the Fundamentals and suspect That the sales result ...
... However, when investors want to sell their investment prematurely, because of a liquidity shock, they will get lower price if they are conceived by the buyer to have more information. Because, other investors know That the seller has information on the Fundamentals and suspect That the sales result ...
Certified Annual Report
... Independent price verification (“IPV”) – IPV is a control process by which system market prices or model inputs are verified for accuracy or reasonableness. Generally on a monthly basis, VG independently validates the fair values of financial instruments determined using valuation models by determi ...
... Independent price verification (“IPV”) – IPV is a control process by which system market prices or model inputs are verified for accuracy or reasonableness. Generally on a monthly basis, VG independently validates the fair values of financial instruments determined using valuation models by determi ...
esma_ce_g_aifmd__afme_replyform
... accounts with fewer participants in each. This will materially reduce the number of opportunities for internalised settlement. Internalised settlement often occurs in the context of prime brokerage activity where clients take short positions which may be offset against a corresponding purchase. Inte ...
... accounts with fewer participants in each. This will materially reduce the number of opportunities for internalised settlement. Internalised settlement often occurs in the context of prime brokerage activity where clients take short positions which may be offset against a corresponding purchase. Inte ...
Predictability of Future Index Returns based on the 52 Week High
... Conrad and Kaul (1998) suggest that it is the cross sectional variation in unconditional mean returns that causes return continuation in individual stocks, Johnson (2002) claims that a growth rate risk model explains momentum, while Chordia and Shivakumar (2002) conclude that momentum profits happen ...
... Conrad and Kaul (1998) suggest that it is the cross sectional variation in unconditional mean returns that causes return continuation in individual stocks, Johnson (2002) claims that a growth rate risk model explains momentum, while Chordia and Shivakumar (2002) conclude that momentum profits happen ...
8 March 2017 Market Trading Update Macmahon Holdings Limited
... shares (5.9% of total shares) at a premium to the CIMIC Offer price. Macmahon understands the buyers of these shares included Forager, Macmahon’s second largest shareholder after CIMIC. Macmahon sees the demand for this stake as a strong show of support by investors for the company’s continued indep ...
... shares (5.9% of total shares) at a premium to the CIMIC Offer price. Macmahon understands the buyers of these shares included Forager, Macmahon’s second largest shareholder after CIMIC. Macmahon sees the demand for this stake as a strong show of support by investors for the company’s continued indep ...
selling a private company
... total issued shares in a land-rich company attracts the conveyancing rate of duty. The sale contract (if any) and the share transfer form must be lodged with Revenue SA for assessment of duty. As a matter of routine, Revenue SA will requisition the last 3 years financial statements of the target in ...
... total issued shares in a land-rich company attracts the conveyancing rate of duty. The sale contract (if any) and the share transfer form must be lodged with Revenue SA for assessment of duty. As a matter of routine, Revenue SA will requisition the last 3 years financial statements of the target in ...
Switching Bubbles: From Outside to Inside
... Outside Bubble, that is, young investors buy the bubble from the old investors and sell it when they are old to the next generation of investors. Then, I compute the steady-state equilibrium with an Inside Bubble, that is, young investors decide to buy capital to sell it when they are old, instead o ...
... Outside Bubble, that is, young investors buy the bubble from the old investors and sell it when they are old to the next generation of investors. Then, I compute the steady-state equilibrium with an Inside Bubble, that is, young investors decide to buy capital to sell it when they are old, instead o ...
DEUTSCHE BANK AKTIENGESELLSCHAFT (Form
... The Issuer’s estimated value of the securities on the Trade Date (as disclosed on the cover of this pricing supplement) is less than the Issue Price of the securities. The difference between the Issue Price and the Issuer’s estimated value of the securities on the Trade Date is due to the inclusion ...
... The Issuer’s estimated value of the securities on the Trade Date (as disclosed on the cover of this pricing supplement) is less than the Issue Price of the securities. The difference between the Issue Price and the Issuer’s estimated value of the securities on the Trade Date is due to the inclusion ...
The Economics of Infrastructure in a Globalized World: Issues
... the early 1990s. Hummels (2001) argues that for the period 1950-1998 faster transport — air shipping and faster ocean vessels — was equivalent to reducing tariffs on manufactured goods from 32 percent to 9 percent. The use of containers in ocean transport has led to massive efficiency gains in long- ...
... the early 1990s. Hummels (2001) argues that for the period 1950-1998 faster transport — air shipping and faster ocean vessels — was equivalent to reducing tariffs on manufactured goods from 32 percent to 9 percent. The use of containers in ocean transport has led to massive efficiency gains in long- ...
Systemic Risk, Systematic Risk, and the Identification of
... Since the 2007–2008 financial crisis, the vulnerability of the global economy to the distress of single banks and other financial institutions has been of special interest to regulators and policymakers. This led to a shift in focus of international regulatory approaches - from microprudential to ma ...
... Since the 2007–2008 financial crisis, the vulnerability of the global economy to the distress of single banks and other financial institutions has been of special interest to regulators and policymakers. This led to a shift in focus of international regulatory approaches - from microprudential to ma ...
ROYAL BANK OF CANADA
... Return is positive, Royal Bank of Canada will repay the principal amount at maturity plus pay a return equal to 1.5 (the “Multiplier”) times the Index Return, up to the Maximum Gain. If the Index Return is zero or negative, and the Index Ending Level is greater than or equal to the Trigger Level, Ro ...
... Return is positive, Royal Bank of Canada will repay the principal amount at maturity plus pay a return equal to 1.5 (the “Multiplier”) times the Index Return, up to the Maximum Gain. If the Index Return is zero or negative, and the Index Ending Level is greater than or equal to the Trigger Level, Ro ...
Client Assets - Bank of Ireland Private Banking
... investor, which are held by BOIPBL on behalf of the client and for their benefit. There are two forms of client asset - funds and financial/ investment instruments. Funds are defined in the Regulations and include cash, cheques or other payable orders, current and deposit accounts and margin collate ...
... investor, which are held by BOIPBL on behalf of the client and for their benefit. There are two forms of client asset - funds and financial/ investment instruments. Funds are defined in the Regulations and include cash, cheques or other payable orders, current and deposit accounts and margin collate ...
Regulatory Capital Disclosures
... For regulatory purposes, our Total capital base is divided into three main categories, namely Tier 1 common capital, Tier 1 capital and Tier 2 capital as follows: Tier 1 common capital is comprised of common shareholders’ equity, after giving effect to deductions for disallowed items (for example, ...
... For regulatory purposes, our Total capital base is divided into three main categories, namely Tier 1 common capital, Tier 1 capital and Tier 2 capital as follows: Tier 1 common capital is comprised of common shareholders’ equity, after giving effect to deductions for disallowed items (for example, ...
AN INTERTEMPORAL ASSET PRICING MODEL WITH
... Section 5 demonstrates that there are intertemporal analogs to the singleperiod results that state that all individuals’ wealths will be perfectly correlated and that each individual’s portfolio beta is proportional to his Pratt (1964) - Arrow (1965) measure of relative risk tolerance. In particular ...
... Section 5 demonstrates that there are intertemporal analogs to the singleperiod results that state that all individuals’ wealths will be perfectly correlated and that each individual’s portfolio beta is proportional to his Pratt (1964) - Arrow (1965) measure of relative risk tolerance. In particular ...
Preview - American Economic Association
... This insight sheds light on why a centralized-market model has trouble explaining trading volume, especially in an environment with a small transaction cost. We argue that even for the U.S. stock market, it seems plausible that some aspects of the market are better captured by a search model. For ex ...
... This insight sheds light on why a centralized-market model has trouble explaining trading volume, especially in an environment with a small transaction cost. We argue that even for the U.S. stock market, it seems plausible that some aspects of the market are better captured by a search model. For ex ...
State enterprises exposed to privatisation
... serious investor, providing comprehensive financial information on a company’s performance, position and cash flows over the past 3 years. This information, extracted from reported financial statements, forms the building blocks for any analysis undertaken by investment professionals. The informatio ...
... serious investor, providing comprehensive financial information on a company’s performance, position and cash flows over the past 3 years. This information, extracted from reported financial statements, forms the building blocks for any analysis undertaken by investment professionals. The informatio ...
Investment fund
An investment fund is a way of investing money alongside other investors in order to benefit from the inherent advantages of working as part of a group. These advantages include an ability to: hire professional investment managers, which may potentially be able to offer better returns and more adequate risk management; benefit from economies of scale, i.e., lower transaction costs; increase the asset diversification to reduce some unsystemic risk.Terminology varies with country but investment funds are often referred to as investment pools, collective investment vehicles, collective investment schemes, managed funds, or simply funds. An investment fund may be held by the public, such as a mutual fund, exchange-traded fund, or closed-end fund, or it may be sold only in a private placement, such as a hedge fund or private equity fund. The term also includes specialized vehicles such as collective and common trust funds, which are unique bank-managed funds structured primarily to commingle assets from qualifying pension plans or trusts.Investment funds are promoted with a wide range of investment aims either targeting specific geographic regions (e.g., emerging markets or Europe) or specified industry sectors (e.g., technology). Depending on the country there is normally a bias towards the domestic market due to familiarity, and the lack of currency risk. Funds are often selected on the basis of these specified investment aims, their past investment performance, and other factors such as fees.