Fund Summary Sheet TMLS Singapore Cash Fund
... Investment in the Underlying Fund is generally designed to produce returns over the long-term and is not suitable for short-term speculation. Investors should not expect to obtain short-term gains from such investment although money market Funds may be suitable for short-term investment. 2. Fund Spe ...
... Investment in the Underlying Fund is generally designed to produce returns over the long-term and is not suitable for short-term speculation. Investors should not expect to obtain short-term gains from such investment although money market Funds may be suitable for short-term investment. 2. Fund Spe ...
Are abnormal buy and holding returns in mergers subject to value
... after M&A deals is more likely due to analysis method errors and benchmark errors, than due to market mispricing at the announcement date of the acquisition. The statistical power of event studies on these long-term abnormal returns is still a big topic of discussion in the current corporate finance ...
... after M&A deals is more likely due to analysis method errors and benchmark errors, than due to market mispricing at the announcement date of the acquisition. The statistical power of event studies on these long-term abnormal returns is still a big topic of discussion in the current corporate finance ...
Why is long-horizon equity less risky? A duration-based
... for prices and risk premia. Motivated by these expressions, Brennan et al. empirically evaluate whether expected returns on a cross-section of assets can be explained by betas with respect to discount rates. Here we make use of similar analytical methods to address a different goal, namely, endogeno ...
... for prices and risk premia. Motivated by these expressions, Brennan et al. empirically evaluate whether expected returns on a cross-section of assets can be explained by betas with respect to discount rates. Here we make use of similar analytical methods to address a different goal, namely, endogeno ...
The Relationship between the Equity Risk Premium
... the different methods of approach, which range from the use of accounting fundamentals (Tippett, 2000) to asset pricing models (Mehra and Prescott, 1985) and analyst growth forecasts (Harris, 1986), etc. [see, for instance, Arnott and Ryan, 2001; Welch, 2000; and references therein, among many other ...
... the different methods of approach, which range from the use of accounting fundamentals (Tippett, 2000) to asset pricing models (Mehra and Prescott, 1985) and analyst growth forecasts (Harris, 1986), etc. [see, for instance, Arnott and Ryan, 2001; Welch, 2000; and references therein, among many other ...
DOC 477KB - Board of Taxation
... Prior to the introduction of the debt and equity rules, the distinction between debt and equity under general income tax principles could be said to have mainly manifested in a distinction between the costs of operations that produce assessable income (in particular, the cost of debt), and returns t ...
... Prior to the introduction of the debt and equity rules, the distinction between debt and equity under general income tax principles could be said to have mainly manifested in a distinction between the costs of operations that produce assessable income (in particular, the cost of debt), and returns t ...
New approaches to expanding the supply of affordable housing in
... rent, or further towards the affordable rent, where the latter is deemed to be lower than current market levels for target groups. This will generally entail part of the total risk being transferred from the investor to someone else, usually government and/or the achievement of market efficiencies t ...
... rent, or further towards the affordable rent, where the latter is deemed to be lower than current market levels for target groups. This will generally entail part of the total risk being transferred from the investor to someone else, usually government and/or the achievement of market efficiencies t ...
Towards a framework for calibrating macroprudential leverage limits
... leverage cannot be observed from balance sheets. Derivatives allow an investor to earn a return on an underlying exposure, while committing only a small portion of equity upfront. Because derivatives are accounted for at market value, this synthetic leverage will not show up on the balance sheet and ...
... leverage cannot be observed from balance sheets. Derivatives allow an investor to earn a return on an underlying exposure, while committing only a small portion of equity upfront. Because derivatives are accounted for at market value, this synthetic leverage will not show up on the balance sheet and ...
Tactical Asset Allocation with Macroeconomic Factors
... (Ballentine [2013]), it is indeed at the prerogative of an investor to determine what constitutes an asset class and how many are to be employed within an investment portfolio. Though traditional asset classes are stocks, bonds, and cash, alternative asset classes have also been considered, which ma ...
... (Ballentine [2013]), it is indeed at the prerogative of an investor to determine what constitutes an asset class and how many are to be employed within an investment portfolio. Though traditional asset classes are stocks, bonds, and cash, alternative asset classes have also been considered, which ma ...
ask investment managers private limited
... [i] The present investment objectives and policies, including the types of securities in which investments are generally made Investment Philosophy ASK Investment Managers’ (ASKIM) investment philosophy revolves around two key aspects: Endeavour to preserve capital and generate long term returns. AS ...
... [i] The present investment objectives and policies, including the types of securities in which investments are generally made Investment Philosophy ASK Investment Managers’ (ASKIM) investment philosophy revolves around two key aspects: Endeavour to preserve capital and generate long term returns. AS ...
Types of Investment - Lancashire County Council
... LGPS membership. This means that where an active member has two or more unaggregated periods of LGPS membership, they may only elect to aggregate the most recent period. Augmentation of Service An employer can now award augmented service at any point of a member’s active membership. Previously this ...
... LGPS membership. This means that where an active member has two or more unaggregated periods of LGPS membership, they may only elect to aggregate the most recent period. Augmentation of Service An employer can now award augmented service at any point of a member’s active membership. Previously this ...
Asset Pricing with Idiosyncratic Risk and Overlapping Generations
... interpret this as the intergenerational sharing of aggregate risk. This risk sharing is imperfect in the sense that the associated complete-markets allocation features uniform aggregate risk exposure across generations. Yet there is aggregate risk sharing in the sense that the young are endowed with ...
... interpret this as the intergenerational sharing of aggregate risk. This risk sharing is imperfect in the sense that the associated complete-markets allocation features uniform aggregate risk exposure across generations. Yet there is aggregate risk sharing in the sense that the young are endowed with ...
The Determinants of Bank Capital Structure
... on the assets/lending side and shows that when markets are perfectly competitive, to attract more borrowers and at the same time incentivize monitoring banks choose to use costly capital rather than increase interest on loans. Admati et al. (2013) examine the arguments that equity is expensive and h ...
... on the assets/lending side and shows that when markets are perfectly competitive, to attract more borrowers and at the same time incentivize monitoring banks choose to use costly capital rather than increase interest on loans. Admati et al. (2013) examine the arguments that equity is expensive and h ...
malta 2016 - HFM Global
... wholesale-denominated debt securities to trade on an EU regulated market. Soundly structured, securitisation is an important channel for diversifying funding sources and enabling a broader distribution of risk by allowing lenders such as banks to transfer the risk of some exposures to other banks, o ...
... wholesale-denominated debt securities to trade on an EU regulated market. Soundly structured, securitisation is an important channel for diversifying funding sources and enabling a broader distribution of risk by allowing lenders such as banks to transfer the risk of some exposures to other banks, o ...
venture capital pre-investment decision making process
... These studies also reveal that investment criteria (management capabilities, uniqueness of product, market acceptance, & degree of competition) influence the decision-making stages. Some later studies (2000 – 2008) explored the importance of investment criteria and the influence of cultural differen ...
... These studies also reveal that investment criteria (management capabilities, uniqueness of product, market acceptance, & degree of competition) influence the decision-making stages. Some later studies (2000 – 2008) explored the importance of investment criteria and the influence of cultural differen ...
Determinants of Going-Public Decision in an Emerging
... incorporating a wide variety of explanatory variables have been specified to reveal the determinants of goingpublic decision. The theoretical costs and benefits associated with going public have formed the basis for the models specified. While most of these studies have arrived at some common deter ...
... incorporating a wide variety of explanatory variables have been specified to reveal the determinants of goingpublic decision. The theoretical costs and benefits associated with going public have formed the basis for the models specified. While most of these studies have arrived at some common deter ...
Regulation to amend Regulation 81
... Generally, if a mutual fund that is structured as a mutual fund trust does not have 10 years of performance history, the past performance of a corporate class version of that mutual fund should be used to fill in the missing past performance information required to calculate standard deviation. Like ...
... Generally, if a mutual fund that is structured as a mutual fund trust does not have 10 years of performance history, the past performance of a corporate class version of that mutual fund should be used to fill in the missing past performance information required to calculate standard deviation. Like ...
Download attachment
... The LBO fund is usually not wealth-constrained, like the private equity funds: these funds participate in the formation of large companies and they issue high level of equity. In Venture capital2, the venture capitalist fund (hereafter VC fund) is usually the only financier in the project and he is ...
... The LBO fund is usually not wealth-constrained, like the private equity funds: these funds participate in the formation of large companies and they issue high level of equity. In Venture capital2, the venture capitalist fund (hereafter VC fund) is usually the only financier in the project and he is ...
Atlantia Low risk, high return
... (substantially in line with our former TP of EUR 28.65) is supported by a combination of limited downside risk and good potential upside. Green light to the new tariff scheme expected in the next few months. Independent from the outcome of the mid-April general elections, one of the priorities of th ...
... (substantially in line with our former TP of EUR 28.65) is supported by a combination of limited downside risk and good potential upside. Green light to the new tariff scheme expected in the next few months. Independent from the outcome of the mid-April general elections, one of the priorities of th ...
Institutional Investors and Corporate Behavior
... one level, it is not difficult to imagine why this might be so. In the absence of frictions in the market for corporate control, there should in principle be no causal link between the use of a governance variable (for example, managerial ownership or board composition) and performance (for example, ...
... one level, it is not difficult to imagine why this might be so. In the absence of frictions in the market for corporate control, there should in principle be no causal link between the use of a governance variable (for example, managerial ownership or board composition) and performance (for example, ...
Pulling the Trigger: Default Option Exercise over the Business Cycle*
... default is importantly driven by such factors as homeowner negative equity (see, e.g., Campbell and Dietrich. 1983; Quigley and Van Order, 1995; Deng, Quigley and Van Order, 2000; Demyanyk ...
... default is importantly driven by such factors as homeowner negative equity (see, e.g., Campbell and Dietrich. 1983; Quigley and Van Order, 1995; Deng, Quigley and Van Order, 2000; Demyanyk ...
Report submitted by Alternative Investment Policy Advisory
... Since the first report of the Alternative Investment Policy Advisory Committee (AIPAC) was produced, the members of AIPAC have continued to work hard at the second report. The second report covers critical areas for the development of Alternative Investment Funds (AIFs) in India. The report includes ...
... Since the first report of the Alternative Investment Policy Advisory Committee (AIPAC) was produced, the members of AIPAC have continued to work hard at the second report. The second report covers critical areas for the development of Alternative Investment Funds (AIFs) in India. The report includes ...
Morningstar® Investor Return™ Methodology
... suffer from poor timing and planning. Investors know they should hold a diversified portfolio, but many chase past performance and end up buying funds too late or selling too soon. In addition to revealing patterns of investor behavior, investor returns can demonstrate how well fund families are pre ...
... suffer from poor timing and planning. Investors know they should hold a diversified portfolio, but many chase past performance and end up buying funds too late or selling too soon. In addition to revealing patterns of investor behavior, investor returns can demonstrate how well fund families are pre ...
Offering and Investor Fees - Handout
... Administration fees are non-contingent fees generally used by the issuer to pass some of the cost of the capital raise to the investor. In offerings that might allow for small investor commitments, such as Reg A and Reg CF, this can be particularly important. In a Reg D, covering the cost of a wire ...
... Administration fees are non-contingent fees generally used by the issuer to pass some of the cost of the capital raise to the investor. In offerings that might allow for small investor commitments, such as Reg A and Reg CF, this can be particularly important. In a Reg D, covering the cost of a wire ...
Convertible Bonds Primer
... Small, fast-growing companies wishing to minimize their interest cost will issue convertible bonds. These companies often have volatile capital structures and usually lack a long-term track record. For these reasons, they are required to raise debt at a significantly high interest cost. By issuing ...
... Small, fast-growing companies wishing to minimize their interest cost will issue convertible bonds. These companies often have volatile capital structures and usually lack a long-term track record. For these reasons, they are required to raise debt at a significantly high interest cost. By issuing ...
Trying To Understand All-Equity Firms
... of this model. Maximizing share value for a firm that is calibrated to be similar to the median Compustat firm results in an optimal debt-to-capital ratio of about 15%, which is below the median Compustat debt-to-capital value of about 23%. Their results contradict the view that firms are conservati ...
... of this model. Maximizing share value for a firm that is calibrated to be similar to the median Compustat firm results in an optimal debt-to-capital ratio of about 15%, which is below the median Compustat debt-to-capital value of about 23%. Their results contradict the view that firms are conservati ...
Private equity
In finance, private equity is an asset class consisting of equity securities and debt in operating companies that are not publicly traded on a stock exchange.A private equity investment will generally be made by a private equity firm, a venture capital firm or an angel investor. Each of these categories of investor has its own set of goals, preferences and investment strategies; however, all provide working capital to a target company to nurture expansion, new-product development, or restructuring of the company’s operations, management, or ownership.Bloomberg Businessweek has called private equity a rebranding of leveraged-buyout firms after the 1980s. Common investment strategies in private equity include: leveraged buyouts, venture capital, growth capital, distressed investments and mezzanine capital. In a typical leveraged-buyout transaction, a private-equity firm buys majority control of an existing or mature firm. This is distinct from a venture-capital or growth-capital investment, in which the investors (typically venture-capital firms or angel investors) invest in young, growing or emerging companies, and rarely obtain majority control.Private equity is also often grouped into a broader category called private capital, generally used to describe capital supporting any long-term, illiquid investment strategy.