Detailed Assessment of Implementation on IOSCO Principles
... for both listed equity securities and debt (government and corporate) and some unlisted securities, primarily commercial paper. It also acts as a clearinghouse for some debt trading. SAFCOM, a wholly owned subsidiary of the JSE, is a licensed clearinghouse for derivatives listed on the JSE. ...
... for both listed equity securities and debt (government and corporate) and some unlisted securities, primarily commercial paper. It also acts as a clearinghouse for some debt trading. SAFCOM, a wholly owned subsidiary of the JSE, is a licensed clearinghouse for derivatives listed on the JSE. ...
banco de crédito social cooperativo, sa, and its subsidiaries
... Profit or loss on derecognition in accounts of financial assets and liabilities not carried at fair value through profit or loss, net Profit or loss on financial assets and liabilities held for trading, net ...
... Profit or loss on derecognition in accounts of financial assets and liabilities not carried at fair value through profit or loss, net Profit or loss on financial assets and liabilities held for trading, net ...
Explaining the Magnitude of Liquidity Premia
... model, the liquidity premium becomes 0.91% when the correlations are set to the data point estimates, which are admittedly very noisy estimates of the true correlations, especially since aggregate labor income data is being used. One concern is that the large liquidity premia and utility costs that ...
... model, the liquidity premium becomes 0.91% when the correlations are set to the data point estimates, which are admittedly very noisy estimates of the true correlations, especially since aggregate labor income data is being used. One concern is that the large liquidity premia and utility costs that ...
Eron Mortgage Study
... of a similar age. They were not particularly wealthy – approximately two-thirds reported total annual household incomes of less than $75,000, and with an average age of 55, their net worth was approximately $200,000. The purpose of the Eron investment was, for the overwhelming majority of investors, ...
... of a similar age. They were not particularly wealthy – approximately two-thirds reported total annual household incomes of less than $75,000, and with an average age of 55, their net worth was approximately $200,000. The purpose of the Eron investment was, for the overwhelming majority of investors, ...
Investment Policy Manual
... company or other entity or firm retained to manage a portion of the System’s assets under specified guidelines. An external manager may be engaged to invest in funds directly or may be engaged to hire other external investment managers operating as a fund-of-funds. Securities investment managers mus ...
... company or other entity or firm retained to manage a portion of the System’s assets under specified guidelines. An external manager may be engaged to invest in funds directly or may be engaged to hire other external investment managers operating as a fund-of-funds. Securities investment managers mus ...
Long-Short Commodity Investing - EDHEC
... of these commodity futures investments and their conditional correlations with traditional assets. Indeed, the strategic decision to include commodity futures in a well-diversified portfolio does not solely depend on the risk premium of commodity futures viewed as an asset class but is also driven b ...
... of these commodity futures investments and their conditional correlations with traditional assets. Indeed, the strategic decision to include commodity futures in a well-diversified portfolio does not solely depend on the risk premium of commodity futures viewed as an asset class but is also driven b ...
Lending-of-last-resort is as lending-of-last-resort does
... German banks. This led to a low volume of trading and, in particular, to low interest rates in the interbank market. Examining the interplay between central bank liquidity provision and interbank market activity presents a number of empirical challenges. The vast majority of interbank transactions ...
... German banks. This led to a low volume of trading and, in particular, to low interest rates in the interbank market. Examining the interplay between central bank liquidity provision and interbank market activity presents a number of empirical challenges. The vast majority of interbank transactions ...
- Franklin Templeton Investments
... loan obligations (CLOs). Generally CDOs are types of asset-backed securities. CLOs are generally considered to be one type of CDOs. CLOs represent interests in a special purpose, bankruptcy-remote vehicle, typically a trust, collateralized by a pool generally comprised of corporate and/or sovereign ...
... loan obligations (CLOs). Generally CDOs are types of asset-backed securities. CLOs are generally considered to be one type of CDOs. CLOs represent interests in a special purpose, bankruptcy-remote vehicle, typically a trust, collateralized by a pool generally comprised of corporate and/or sovereign ...
columbia high yield bond fund
... agencies assign credit ratings to certain loans and fixed-income securities to indicate their credit risk. Lower quality or unrated securities held by the Fund may present increased credit risk as compared to higher-rated securities. Noninvestment grade loans or fixed-income securities (commonly cal ...
... agencies assign credit ratings to certain loans and fixed-income securities to indicate their credit risk. Lower quality or unrated securities held by the Fund may present increased credit risk as compared to higher-rated securities. Noninvestment grade loans or fixed-income securities (commonly cal ...
Prospectus - Franklin Templeton Investment Funds (SICAV)
... the Net Asset Value per Share of such Share Class as described in the section “Publication of Share Prices”. If the total value of the Shares of any Fund is at any time below USD 20 million, or the equivalent thereof in the currency of the relevant Fund, the Board of Directors may decide to redeem a ...
... the Net Asset Value per Share of such Share Class as described in the section “Publication of Share Prices”. If the total value of the Shares of any Fund is at any time below USD 20 million, or the equivalent thereof in the currency of the relevant Fund, the Board of Directors may decide to redeem a ...
Earnings Release 1Q17
... in the Strategic Resolution Unit. Compared to a weak 1Q16, net revenues in Global Markets increased reflecting more favorable market conditions, particularly in its credit business. The movement in the Strategic Resolution Unit’s net revenues was primarily driven by lower negative valuation adjustme ...
... in the Strategic Resolution Unit. Compared to a weak 1Q16, net revenues in Global Markets increased reflecting more favorable market conditions, particularly in its credit business. The movement in the Strategic Resolution Unit’s net revenues was primarily driven by lower negative valuation adjustme ...
International Monetary Fund Annual Report 1962
... year, the surplus was no longer sufficient, as imports increased in response to economic recovery, and there was also a larger outflow of capital. Japan's trade position deteriorated sharply from 1960 to 1961, although an inflow of short-term capital kept reserves rising during the first four months ...
... year, the surplus was no longer sufficient, as imports increased in response to economic recovery, and there was also a larger outflow of capital. Japan's trade position deteriorated sharply from 1960 to 1961, although an inflow of short-term capital kept reserves rising during the first four months ...
highlights for 2003 - Amplifon Corporate
... Portugal, Hungary and Egypt. The process of international expansion implemented by the Group focused on the strategic integration of companies that share a similar approach in terms of management values and customer service, in addition to being leaders in their markets. In this sense, the Group’s m ...
... Portugal, Hungary and Egypt. The process of international expansion implemented by the Group focused on the strategic integration of companies that share a similar approach in terms of management values and customer service, in addition to being leaders in their markets. In this sense, the Group’s m ...
On the history of the Growth Optimal Portfolio
... so has the GOP. It seems to have been Bernoulli who to some extent inspired the article Latané (1959). Independent of Kellys4 result, Latanè suggested that investors should maximize the geometric mean of their portfolios, as this would maximize the probability that the portfolio would be more valu ...
... so has the GOP. It seems to have been Bernoulli who to some extent inspired the article Latané (1959). Independent of Kellys4 result, Latanè suggested that investors should maximize the geometric mean of their portfolios, as this would maximize the probability that the portfolio would be more valu ...
RBC Funds (Lux) - RBC Global Asset Management
... The hallmark event of the period was the U.K.’s decision to leave the EU (“Brexit”), adding to investor uncertainty as macroeconomic themes such as monetary policy, the pace of economic recovery and political risks held influence. Risk appetite fluctuated, manifested in the most recent fiscal quarte ...
... The hallmark event of the period was the U.K.’s decision to leave the EU (“Brexit”), adding to investor uncertainty as macroeconomic themes such as monetary policy, the pace of economic recovery and political risks held influence. Risk appetite fluctuated, manifested in the most recent fiscal quarte ...
Review of the method for estimating the Weighted Average Cost of
... (Bradbury D., Decision to certify the Western Australian Rail Access Regime, 11 February 2011): My decision to certify did not reflect the final recommendation of the NCC. In reaching this decision, I considered advice from the Department of Treasury… Even though my decision is different to the NCC' ...
... (Bradbury D., Decision to certify the Western Australian Rail Access Regime, 11 February 2011): My decision to certify did not reflect the final recommendation of the NCC. In reaching this decision, I considered advice from the Department of Treasury… Even though my decision is different to the NCC' ...
Why Public-Private Partnerships Don`t Work
... • The private company gets paid over a number of years, either through charges paid by users (often called a concession), or by payments from the public authority, or a combination of both.* 1 The concept of PPPs was not used before the 1990s, but concessions have existed for many centuries. The pr ...
... • The private company gets paid over a number of years, either through charges paid by users (often called a concession), or by payments from the public authority, or a combination of both.* 1 The concept of PPPs was not used before the 1990s, but concessions have existed for many centuries. The pr ...
Derivatives and the Modern Prudent Investor Rule: Too Risky or Too Necessary?
... course, the cost of mistakes by fiduciaries, whether they take on too much risk or even not enough risk, can be tragic. This being said, legal scholarship by those in related disciplines, such as finance and economics, must seek to fill the void that still confounds those who are earnestly trying to ...
... course, the cost of mistakes by fiduciaries, whether they take on too much risk or even not enough risk, can be tragic. This being said, legal scholarship by those in related disciplines, such as finance and economics, must seek to fill the void that still confounds those who are earnestly trying to ...
Stock Return Serial Dependence and Out-of
... EDHEC pursues an active research policy in the field of finance. EDHEC-Risk Institute carries out numerous research programmes in the areas of asset allocation and risk management in both the traditional and alternative investment universes. Copyright © 2013 EDHEC ...
... EDHEC pursues an active research policy in the field of finance. EDHEC-Risk Institute carries out numerous research programmes in the areas of asset allocation and risk management in both the traditional and alternative investment universes. Copyright © 2013 EDHEC ...
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.