The Adequacy of Investment Choices Offered By 401(k) Plans Edwin
... large number of science and technology funds offered at the date our sample was constructed suggests that some plan administrators were including the then-current “hot” sector. II. Adequacy of Investment Choices In this section we examine the adequacy of the investment choices offered by 401(k) plan ...
... large number of science and technology funds offered at the date our sample was constructed suggests that some plan administrators were including the then-current “hot” sector. II. Adequacy of Investment Choices In this section we examine the adequacy of the investment choices offered by 401(k) plan ...
Policy Dialogue on Corporate Governance in China
... were responsible to collect deposits and provide working capital to SOEs. Bank loans were not an important source of finance for SOEs before the reform. 2. Past Reform Efforts The SOE reform started in late 1970s has experimented numerous approaches and strategies, initiated by the central governmen ...
... were responsible to collect deposits and provide working capital to SOEs. Bank loans were not an important source of finance for SOEs before the reform. 2. Past Reform Efforts The SOE reform started in late 1970s has experimented numerous approaches and strategies, initiated by the central governmen ...
SME Exchanges in Emerging Market Economies
... international market for smaller growing companies, is most commonly cited as a successful SME exchange, having listed more than 3,400 companies from around the globe since it was established in 1995. 4 Attempts have been made to duplicate the AIM model in a number of emerging market jurisdictions: ...
... international market for smaller growing companies, is most commonly cited as a successful SME exchange, having listed more than 3,400 companies from around the globe since it was established in 1995. 4 Attempts have been made to duplicate the AIM model in a number of emerging market jurisdictions: ...
ETF Trading and Execution in the European MarketsPDF
... ever-expanding number of products on offer that cover broader and more illiquid indices, especially those based upon emerging market and fixed income benchmarks. Cash dealing models also offer the ability for delivery versus payment (DVP) settlement, which gives both the provider and the AP greater ...
... ever-expanding number of products on offer that cover broader and more illiquid indices, especially those based upon emerging market and fixed income benchmarks. Cash dealing models also offer the ability for delivery versus payment (DVP) settlement, which gives both the provider and the AP greater ...
Household Heterogeneity and Incomplete Financial Markets: Asset Return Implications in a
... its own introduction and conclusions, raising the questions addressed and highlighting the main results obtained. In chapter 2, the standard model RBC model is compared to the case in which two classes of households, distinguished by their realizations of an idiosyncratic labor income shock, can ins ...
... its own introduction and conclusions, raising the questions addressed and highlighting the main results obtained. In chapter 2, the standard model RBC model is compared to the case in which two classes of households, distinguished by their realizations of an idiosyncratic labor income shock, can ins ...
Does portfolio manager ownership affect fund performance? Finnish
... As a part of the increased regulation of mutual fund companies, the SEC has lately put a lot of effort to improve the transparency of the industry in the U.S. One of the new regulations came effective on March 2005, since when all portfolio managers have been required to disclose how much of their p ...
... As a part of the increased regulation of mutual fund companies, the SEC has lately put a lot of effort to improve the transparency of the industry in the U.S. One of the new regulations came effective on March 2005, since when all portfolio managers have been required to disclose how much of their p ...
Debt, Equity and Hybrid Decoupling
... rights. Economic-only ownership may also be hidden (exempt or arguably exempt from the disclosure rules that apply to full ownership, and not voluntarily disclosed), morphable (accompanied by the informal ability to acquire voting rights), or both (hidden (morphable) ownership). 3 Hidden (morphable) ...
... rights. Economic-only ownership may also be hidden (exempt or arguably exempt from the disclosure rules that apply to full ownership, and not voluntarily disclosed), morphable (accompanied by the informal ability to acquire voting rights), or both (hidden (morphable) ownership). 3 Hidden (morphable) ...
Our investment process - Close Brothers Asset Management
... We focus on liquid, alternative investments such as property, infrastructure, commodities and absolute return funds. Investors with a higher risk tolerance tend to have a larger allocation to equities and alternatives and more international exposure. Conversely, those with a lower risk profile tend ...
... We focus on liquid, alternative investments such as property, infrastructure, commodities and absolute return funds. Investors with a higher risk tolerance tend to have a larger allocation to equities and alternatives and more international exposure. Conversely, those with a lower risk profile tend ...
The impact of transfer pricing on real estate funding – Mezzanine financing
... taxatation makes correct transfer pricing of debt funding a higher priority is in place is becoming a key management focus. Recent developments Real estate investment financing trends Foreign investors, from high net worth individuals to sovereign wealth funds, are faced with certain challenges shou ...
... taxatation makes correct transfer pricing of debt funding a higher priority is in place is becoming a key management focus. Recent developments Real estate investment financing trends Foreign investors, from high net worth individuals to sovereign wealth funds, are faced with certain challenges shou ...
This PDF is a selection from a published volume from... National Bureau of Economic Research
... debt. The reduction in private debt resulted partly from the abrupt interruption of access during the crises but also from the floating of the currency, which ended a period of implicit guarantees that included a fixed parity for borrowers. 2. The profile of external financing has also changed since ...
... debt. The reduction in private debt resulted partly from the abrupt interruption of access during the crises but also from the floating of the currency, which ended a period of implicit guarantees that included a fixed parity for borrowers. 2. The profile of external financing has also changed since ...
Sovereign Wealth Funds in the Pacific Island Countries
... While the recent public interest in sovereign wealth funds derives largely from the largest funds’ potential impact on international financial markets, from a domestic policymaker’s viewpoint, a more fundamental question is whether SWFs can be a useful instrument to achieve domestic policy goals. Wh ...
... While the recent public interest in sovereign wealth funds derives largely from the largest funds’ potential impact on international financial markets, from a domestic policymaker’s viewpoint, a more fundamental question is whether SWFs can be a useful instrument to achieve domestic policy goals. Wh ...
Convertible Bonds Primer
... usually lack a long-term track record. For these reasons, they are required to raise debt at a significantly high interest cost. By issuing convertibles, they are able to both harness the volatility of their capital structure and reduce the interest payments on their debt. In most cases, the higher ...
... usually lack a long-term track record. For these reasons, they are required to raise debt at a significantly high interest cost. By issuing convertibles, they are able to both harness the volatility of their capital structure and reduce the interest payments on their debt. In most cases, the higher ...
A Model-Based Approach to Constructing Corporate Bond Portfolios
... attention from portfolio managers. Hence, using quantitative credit measures to help further facilitate active portfolio management has become a subject of much interest. Using quantitative tools, we develop a model-based approach for constructing investment grade and high yield corporate bond portf ...
... attention from portfolio managers. Hence, using quantitative credit measures to help further facilitate active portfolio management has become a subject of much interest. Using quantitative tools, we develop a model-based approach for constructing investment grade and high yield corporate bond portf ...
Corruption`s Impact on Liquidity, Investment
... compete for lucrative international business opportunities. As Cheung, Rau, and Stouraitis (2011) show, the payoff to corrupt behavior can be quite tempting since they estimate that the average return is 10-11 times the original bribe amount for 166 high profile cases in 20 countries. In contrast to ...
... compete for lucrative international business opportunities. As Cheung, Rau, and Stouraitis (2011) show, the payoff to corrupt behavior can be quite tempting since they estimate that the average return is 10-11 times the original bribe amount for 166 high profile cases in 20 countries. In contrast to ...
Familiarity Breeds Investment
... they own assets that do not trade. Baxter and Jermann (1997) argue persuasively that the single most important non-traded asset is human capital and that returns to human capital are highly correlated with the returns to the domestic stock market. Indeed, Baxter and Jermann consider typical investor ...
... they own assets that do not trade. Baxter and Jermann (1997) argue persuasively that the single most important non-traded asset is human capital and that returns to human capital are highly correlated with the returns to the domestic stock market. Indeed, Baxter and Jermann consider typical investor ...
Chapter 4 - Financial Statement Analysis and
... Why return on equity is one of the key financial ratios used for assessing a firm’s performance, and how it can be used to provide information about three areas of a firm’s operations Why outsiders and insiders are concerned with a company’s ratios related to leverage, efficiency, productivity, liqu ...
... Why return on equity is one of the key financial ratios used for assessing a firm’s performance, and how it can be used to provide information about three areas of a firm’s operations Why outsiders and insiders are concerned with a company’s ratios related to leverage, efficiency, productivity, liqu ...
SRP Research Report for OIC (Part 2: European Structured Product
... In the context of this research, structured products are defined as investment products whose repayment value derives from the behaviour of one or more underlying assets. Structured finance products (e.g. asset‐backed securities, collateralised debt obligations) for financing ...
... In the context of this research, structured products are defined as investment products whose repayment value derives from the behaviour of one or more underlying assets. Structured finance products (e.g. asset‐backed securities, collateralised debt obligations) for financing ...
NBER WORKING PAPER SERIES DYNASTIC MANAGEMENT Francesco Caselli Nicola Gennaioli
... alone.5 The model also generates large differences in capital-labor ratios, equal to roughly three quarters of the observed ones. This is not only because the lack of contract enforcement deters lending and therefore investment, but also because talented managers invest more than untalented ones, and ...
... alone.5 The model also generates large differences in capital-labor ratios, equal to roughly three quarters of the observed ones. This is not only because the lack of contract enforcement deters lending and therefore investment, but also because talented managers invest more than untalented ones, and ...
Intermediary Asset Pricing
... intermediaries’ actions reflect the preferences of their client-investors. With this assumption, the traditional approach treats intermediaries as a “veil,” and instead posits that a representative household is marginal in pricing all assets. We deviate from the traditional approach for two reasons. ...
... intermediaries’ actions reflect the preferences of their client-investors. With this assumption, the traditional approach treats intermediaries as a “veil,” and instead posits that a representative household is marginal in pricing all assets. We deviate from the traditional approach for two reasons. ...
PROSPECTUS SUN LIFE OF CANADA PROSPERITY DOLLAR
... stock and in the investment of the proceeds of these sales in fixed income instruments denominated in US Dollars issued by the Philippine government, other major economies, or corporations operating therein. The Company’s foreign investments may either be purchased directly or through one or more se ...
... stock and in the investment of the proceeds of these sales in fixed income instruments denominated in US Dollars issued by the Philippine government, other major economies, or corporations operating therein. The Company’s foreign investments may either be purchased directly or through one or more se ...
January 31, 2017 - Tortoise Index Solutions
... Non-U.S. Securities Risk. Investments in securities of non-U.S. issuers involve risks not ordinarily associated with investments in securities and instruments of U.S. issuers, including risks relating to political, social and economic developments abroad, differences between U.S. and foreign regula ...
... Non-U.S. Securities Risk. Investments in securities of non-U.S. issuers involve risks not ordinarily associated with investments in securities and instruments of U.S. issuers, including risks relating to political, social and economic developments abroad, differences between U.S. and foreign regula ...
1 513 +27 % 405 +42 % 20 % 18
... Collector has had annual organic revenue growth of 30% and earnings growth (EAT) of 56%. Operations are comprised of the Retail and Corporate segments. Within the Retail segment, the Company is engaged in lending to private individuals, invoice and payments by instalments to e-commerce and retail co ...
... Collector has had annual organic revenue growth of 30% and earnings growth (EAT) of 56%. Operations are comprised of the Retail and Corporate segments. Within the Retail segment, the Company is engaged in lending to private individuals, invoice and payments by instalments to e-commerce and retail co ...
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.