Ashmore Emerging Markets Liquid Investment Portfolio Ashmore
... performance over the period. In China, the currency performed well, reverting to a trend of appreciation following intervention by the People's Bank of China (PBoC). The economy responded positively to targeted monetary easing as the Q2 2014 GDP accelerated from 7.4% to 7.5%. The PBoC announced a fu ...
... performance over the period. In China, the currency performed well, reverting to a trend of appreciation following intervention by the People's Bank of China (PBoC). The economy responded positively to targeted monetary easing as the Q2 2014 GDP accelerated from 7.4% to 7.5%. The PBoC announced a fu ...
The Impact of Foreign-Currency Movements on Equity
... 3 returns of the unhedged and hedged MSCI EAFE indexes tend to be very similar. In a chart of rolling 3 five-year Sortino ratios (a measure of risk-adjusted return that only incorporates downside volatility), the hedged and unhedged MSCI EAFE indexes take turns leading, with the hedged index general ...
... 3 returns of the unhedged and hedged MSCI EAFE indexes tend to be very similar. In a chart of rolling 3 five-year Sortino ratios (a measure of risk-adjusted return that only incorporates downside volatility), the hedged and unhedged MSCI EAFE indexes take turns leading, with the hedged index general ...
Does Fund Size Erode Performance? Organizational Diseconomies
... for granted that bigger funds naturally have to take larger positions per stock or have to invest in large cap stocks or not-so-good ideas? Presumably, as a small fund grows with good past performance, it can afford to hire more managers so as to cover more stocks. The fund can thereby generate addi ...
... for granted that bigger funds naturally have to take larger positions per stock or have to invest in large cap stocks or not-so-good ideas? Presumably, as a small fund grows with good past performance, it can afford to hire more managers so as to cover more stocks. The fund can thereby generate addi ...
NEWMONT MINING CORP /DE/ (Form: 8-K
... Third quarter net income applicable to common shares was $128.7 million ($0.29 per share), compared with $114.4 million ($0.28 per share) for the third quarter of 2003. For the first nine months, net income applicable to common shares was $252.9 million ($0.57 per share), compared with net income of ...
... Third quarter net income applicable to common shares was $128.7 million ($0.29 per share), compared with $114.4 million ($0.28 per share) for the third quarter of 2003. For the first nine months, net income applicable to common shares was $252.9 million ($0.57 per share), compared with net income of ...
Cash Conversion Cycle and Firms` Profitability – A
... Richards & Laughlin (1980) presented the idea of cash conversion cycle as a tool for measuring the liquidity management and performance of a company. Gentry et al. (1990) suggested that cash conversion cycle affects the market value of a firm. Lamberson (1991) suggested, during expansion in economic ...
... Richards & Laughlin (1980) presented the idea of cash conversion cycle as a tool for measuring the liquidity management and performance of a company. Gentry et al. (1990) suggested that cash conversion cycle affects the market value of a firm. Lamberson (1991) suggested, during expansion in economic ...
Financial Markets
... The course has been developed to include the following innovative content: Key concepts of financial markets, which are explained from an applied perspective, including with examples and problems from current financial markets practices from EU integration and development perspective; Analytical ...
... The course has been developed to include the following innovative content: Key concepts of financial markets, which are explained from an applied perspective, including with examples and problems from current financial markets practices from EU integration and development perspective; Analytical ...
Call for expression of Interest
... As part of the Capital Markets Union initiative, the Open Innovation strand of Horizon 2020, the Digital Single Market strategy and the Start-Up Initiative of the Single Market strategy, the EU is looking to invest, through the EIF and with the support of European Fund for Strategic Investments2 (“E ...
... As part of the Capital Markets Union initiative, the Open Innovation strand of Horizon 2020, the Digital Single Market strategy and the Start-Up Initiative of the Single Market strategy, the EU is looking to invest, through the EIF and with the support of European Fund for Strategic Investments2 (“E ...
Chapter 11 Dividend Policy
... 3.2.2 In such a market, a change in dividend policy would not affect its share price or its market capitalisation. They showed that the value of a company was maximised if it invested in all projects with a positive net present value (its optimal investment schedule). 3.2.3 The company could pay any ...
... 3.2.2 In such a market, a change in dividend policy would not affect its share price or its market capitalisation. They showed that the value of a company was maximised if it invested in all projects with a positive net present value (its optimal investment schedule). 3.2.3 The company could pay any ...
Financing Durable Assets
... can default and divert cash flows and a fraction of durable assets and cannot be excluded from markets following default as in Rampini and Viswanathan (2010, 2013, 2015).3 For this class of economies, they show that the optimal dynamic contract can be implemented with one-period ahead complete marke ...
... can default and divert cash flows and a fraction of durable assets and cannot be excluded from markets following default as in Rampini and Viswanathan (2010, 2013, 2015).3 For this class of economies, they show that the optimal dynamic contract can be implemented with one-period ahead complete marke ...
The Sukuk Market Comes of Age - Franklin Templeton Hong Kong
... product with the right value proposition over a conventional product.11 This rise in retail demand is reflected in doubledigit growth in the Islamic banking industry, and the increased appetite for investment-grade, Shariah-compliant, liquid securities among corporate treasurers, as well as fund man ...
... product with the right value proposition over a conventional product.11 This rise in retail demand is reflected in doubledigit growth in the Islamic banking industry, and the increased appetite for investment-grade, Shariah-compliant, liquid securities among corporate treasurers, as well as fund man ...
The Impact of Market Sentiment Index on Stock
... the sentiment index using the data which covered the period of January 2002 to December 2008. Based on regression analysis, however, they found that investors become gradually more concerned about illiquidity as their sentiment turn down. It can be observed that when the sentiment index goes up, the ...
... the sentiment index using the data which covered the period of January 2002 to December 2008. Based on regression analysis, however, they found that investors become gradually more concerned about illiquidity as their sentiment turn down. It can be observed that when the sentiment index goes up, the ...
Towards Efficient Benchmarks for Infrastructure Equity Investments
... or no value outside of the contractual relationship in question, in particular, they have no value if they are not used. In this respect they are the opposite of real assets since they have no intrinsic value. From the relationship specificity of infrastructure investments also springs their tenor, ...
... or no value outside of the contractual relationship in question, in particular, they have no value if they are not used. In this respect they are the opposite of real assets since they have no intrinsic value. From the relationship specificity of infrastructure investments also springs their tenor, ...
Learning Objectives
... Cash, an asset account, is increasing and requires a debit. Susan Gilbert, Capital, an owner’s equity account, is increasing and requires a credit. © Paradigm Publishing, Inc. ...
... Cash, an asset account, is increasing and requires a debit. Susan Gilbert, Capital, an owner’s equity account, is increasing and requires a credit. © Paradigm Publishing, Inc. ...
SAST - VCP Value Portfolio Summary Prospectus
... instruments being hedged as expected, in which case any losses on the instruments being hedged may not be reduced. ...
... instruments being hedged as expected, in which case any losses on the instruments being hedged may not be reduced. ...
Real Estate Market Efficiency: A Survey of Literature
... In the latter case, the portfolio may consist of different types of real estate. Transactions of portfolios of real estate are often not done directly, but in some packaged form. Frequently, it is the company owning the portfolio of real estate that is traded so that other characteristics of the com ...
... In the latter case, the portfolio may consist of different types of real estate. Transactions of portfolios of real estate are often not done directly, but in some packaged form. Frequently, it is the company owning the portfolio of real estate that is traded so that other characteristics of the com ...
(Ab)Use of Omega?
... the purpose of the analysis which might be, for instance, one of the following: an investment decision, the evaluation of managers’ abilities, the identification of management strategies and of their impact, either in terms of deviations from the benchmark or in terms of risk/return. Despite some l ...
... the purpose of the analysis which might be, for instance, one of the following: an investment decision, the evaluation of managers’ abilities, the identification of management strategies and of their impact, either in terms of deviations from the benchmark or in terms of risk/return. Despite some l ...
Optimal Asset Location and Allocation with Taxable and Tax
... involves making both an optimal asset allocation decision (i.e., deciding how much of each asset to hold) and an optimal asset location decision (i.e., deciding which assets to hold in the taxable and tax-deferred accounts). Investors would like to make these decisions to reduce the tax burden of ow ...
... involves making both an optimal asset allocation decision (i.e., deciding how much of each asset to hold) and an optimal asset location decision (i.e., deciding which assets to hold in the taxable and tax-deferred accounts). Investors would like to make these decisions to reduce the tax burden of ow ...
Guide to Sound Practices for Hedge Fund Administrators
... administrator, this Guide has been designed to offer its readers a substantial resource in addressing any operational challenges and understanding the scope of services offered by the hedge fund administrative community. Finally, this Guide forms an important part of a much wider body of work on ind ...
... administrator, this Guide has been designed to offer its readers a substantial resource in addressing any operational challenges and understanding the scope of services offered by the hedge fund administrative community. Finally, this Guide forms an important part of a much wider body of work on ind ...
Vanguard Emerging Markets Select Stock Fund Prospectus Investor
... is important to keep in mind one of the main axioms of investing: generally, the higher the risk of losing money, the higher the potential reward. The reverse, also, is generally true: the lower the risk, the lower the potential reward. As you consider an investment in any mutual fund, you should ta ...
... is important to keep in mind one of the main axioms of investing: generally, the higher the risk of losing money, the higher the potential reward. The reverse, also, is generally true: the lower the risk, the lower the potential reward. As you consider an investment in any mutual fund, you should ta ...
Private equity secondary market
In finance, the private equity secondary market (also often called private equity secondaries or secondaries) refers to the buying and selling of pre-existing investor commitments to private equity and other alternative investment funds. Given the absence of established trading markets for these interests, the transfer of interests in private equity funds as well as hedge funds can be more complex and labor-intensive.Sellers of private equity investments sell not only the investments in the fund but also their remaining unfunded commitments to the funds. By its nature, the private equity asset class is illiquid, intended to be a long-term investment for buy-and-hold investors, including ""pension funds, endowments and wealthy families selling off their private equity funds before the pools have sold off all their assets."" For the vast majority of private equity investments, there is no listed public market; however, there is a robust and maturing secondary market available for sellers of private equity assets.Buyers seek to acquire private equity interests in the secondary market for multiple reasons. For example, the duration of the investment may be much shorter than an investment in the private equity fund initially. Likewise, the buyer may be able to acquire these interests at an attractive price. Finally, the buyer can evaluate the fund's holdings before deciding to purchase an interest in the fund. Conversely, sellers may seek to sell interest for various reasons, including the need to raise capital, the desire to avoid future capital calls, the need to reduce an over-allocation to the asset class or for regulatory reasons.Driven by strong demand for private equity exposure over the past decade, a significant amount of capital has been committed to secondary market funds from investors looking to increase and diversify their private equity exposure.