Lazard Emerging Markets Debt
... prices moved lower (Exhibit 2). The dichotomy between rallying emerging markets currencies and lower commodity prices suggests that there is another force at play in emerging markets, namely an increase in commodity volumes (as opposed to prices). Indeed, we have tracked a noticeable increase in shi ...
... prices moved lower (Exhibit 2). The dichotomy between rallying emerging markets currencies and lower commodity prices suggests that there is another force at play in emerging markets, namely an increase in commodity volumes (as opposed to prices). Indeed, we have tracked a noticeable increase in shi ...
Pace University FY11 Financial Statements
... The University applies the provisions of Accounting Standards Codification (ASC) 820, Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent), to certain investments in alternative investments that do not have readily determinable fair values, including hedge fun ...
... The University applies the provisions of Accounting Standards Codification (ASC) 820, Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent), to certain investments in alternative investments that do not have readily determinable fair values, including hedge fun ...
Washington Mutual – largest bank failure in US history
... * CDs are FDIC insured up to $250,000 through 12/31/2009, offer a fixed rate of return, and are not subject to market volatility. Equity investments are subject to market volatility and have greater risk than CDs and other cash investments. 1 Continuous or periodic investment plans neither assure a ...
... * CDs are FDIC insured up to $250,000 through 12/31/2009, offer a fixed rate of return, and are not subject to market volatility. Equity investments are subject to market volatility and have greater risk than CDs and other cash investments. 1 Continuous or periodic investment plans neither assure a ...
Reinsurance Market Report
... approximately a 2.6 percentage point impact after tax on the aggregate annualised RoE (FY 2015: 0.9 percentage points). ...
... approximately a 2.6 percentage point impact after tax on the aggregate annualised RoE (FY 2015: 0.9 percentage points). ...
unitary boards and mutual fund governance
... functioning of independent directors is implicitly viewed as the key to fund governance. This has been so because of the unique organizational structure of mutual funds. Different from the board serving corporations, a mutual fund board serves a different group of shareholders from that of the fund ...
... functioning of independent directors is implicitly viewed as the key to fund governance. This has been so because of the unique organizational structure of mutual funds. Different from the board serving corporations, a mutual fund board serves a different group of shareholders from that of the fund ...
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 ...
The buck stops here: Vanguard money market funds Factor
... that will earn a positive premium in the future. A large range of factors have been analysed and debated in the academic literature, and many of these have been used by investors. Figure 1 outlines seven commonly discussed factor exposures that are notable both for the extensive literature documenti ...
... that will earn a positive premium in the future. A large range of factors have been analysed and debated in the academic literature, and many of these have been used by investors. Figure 1 outlines seven commonly discussed factor exposures that are notable both for the extensive literature documenti ...
Information Statement MNTRUST
... possible investment yield while maintaining liquidity and preserving capital by investing only in instruments authorized by Minnesota laws which govern the investment of funds by Government Units. The Fund seeks to attain its investment objectives by pursuing a professionally managed investment prog ...
... possible investment yield while maintaining liquidity and preserving capital by investing only in instruments authorized by Minnesota laws which govern the investment of funds by Government Units. The Fund seeks to attain its investment objectives by pursuing a professionally managed investment prog ...
SAST - SA Legg Mason BW Large Cap Value
... or investments, the Portfolio could be required to sell securities or to invest cash at a time when it is not advantageous to do so. Active Trading Risk. The Portfolio may engage in frequent trading of securities to achieve its investment goal. Active trading may result in high portfolio turnover an ...
... or investments, the Portfolio could be required to sell securities or to invest cash at a time when it is not advantageous to do so. Active Trading Risk. The Portfolio may engage in frequent trading of securities to achieve its investment goal. Active trading may result in high portfolio turnover an ...
Educating Your Investment Committee on Behavioral Economics
... Sources: BlackRock; Informa Investment Solutions; DB US Equity Strategy; Investment Company Institute (US mutual funds and ETFs). The S&P 500 Index is an unmanaged index that consists of the common stock of 500 large-capitalization companies, within various industrial sectors, most of which are list ...
... Sources: BlackRock; Informa Investment Solutions; DB US Equity Strategy; Investment Company Institute (US mutual funds and ETFs). The S&P 500 Index is an unmanaged index that consists of the common stock of 500 large-capitalization companies, within various industrial sectors, most of which are list ...
SMITH GROUP LARGE CAP CORE GROWTH FUND Institutional
... The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not re ...
... The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not re ...
Opportunistic Deep-Value Investing: A Multi-Asset Class
... generating excess returns. In today’s low-growth and low-yield environment, many investors should find the potential for excess returns appealing. 2. Increasing market dislocations. Deep-value investment opportunities often appear during economic downturns and market dislocations. Market dislocation ...
... generating excess returns. In today’s low-growth and low-yield environment, many investors should find the potential for excess returns appealing. 2. Increasing market dislocations. Deep-value investment opportunities often appear during economic downturns and market dislocations. Market dislocation ...
Catalyst - dealmakers.co.za
... “But to enable us to do that we had to get our service levels right, we had to get the stock right. We operated it a like a real retail distribution business; we've got four major distribution centres and then these distribution centres will distribute to the Plumblink stores and they will service t ...
... “But to enable us to do that we had to get our service levels right, we had to get the stock right. We operated it a like a real retail distribution business; we've got four major distribution centres and then these distribution centres will distribute to the Plumblink stores and they will service t ...
The importance of a well-diversified portfolio
... Today, a well-diversified portfolio is not one that merely comprises a slapdash mix of stocks and bonds, but is one that is diversified within those asset classes at a refined, nuanced level, such as across economic sectors and geographic regions, as well as ...
... Today, a well-diversified portfolio is not one that merely comprises a slapdash mix of stocks and bonds, but is one that is diversified within those asset classes at a refined, nuanced level, such as across economic sectors and geographic regions, as well as ...
Significance of the Social Security Trust Funds
... When Social Security was running a surplus, the trust funds relieved the Treasury of the need to cover a portion of the government’s deficit through the sale of debt securities to investors outside the government. When benefit payments exceed payroll tax income in the future, the need for outside se ...
... When Social Security was running a surplus, the trust funds relieved the Treasury of the need to cover a portion of the government’s deficit through the sale of debt securities to investors outside the government. When benefit payments exceed payroll tax income in the future, the need for outside se ...
forecasting the romanian financial system stability using a stochastic
... index” was built based on indicators characterising monetary conditions, namely: interest rates, effective exchange rate, real estate prices, stock prices, solvency of financial institutions and volatility of financial institutions stock index. The innovation of this index resides in the introductio ...
... index” was built based on indicators characterising monetary conditions, namely: interest rates, effective exchange rate, real estate prices, stock prices, solvency of financial institutions and volatility of financial institutions stock index. The innovation of this index resides in the introductio ...
Measuring and forecasting stress in the banking sector
... Central banks and supervisory authorities regularly assess the situation in the banking sector, which is a vital element in the financial system. Two main questions are at the centre of such assessments: what is the present condition of the banking sector, and how will it evolve in the medium term? ...
... Central banks and supervisory authorities regularly assess the situation in the banking sector, which is a vital element in the financial system. Two main questions are at the centre of such assessments: what is the present condition of the banking sector, and how will it evolve in the medium term? ...
Market Funds and Trust-Investment Law
... stocks. 1 2 Most American jurisdictions maintained similar statutory lists into the 1940s, and a variety survive to this day. 13 Second, because investments not on the list were improper unless authorized in the trust instrument, England and many American jurisdictions forbade all trust investment i ...
... stocks. 1 2 Most American jurisdictions maintained similar statutory lists into the 1940s, and a variety survive to this day. 13 Second, because investments not on the list were improper unless authorized in the trust instrument, England and many American jurisdictions forbade all trust investment i ...
The University of Akron Investment Policy Statement for Endowment Funds
... Manage the Fund’s assets in accordance with the objectives and guidelines expressed in the Policy, or in a separate written agreement that has received approval from the Committee, when deviation is deemed prudent and desirable. Submit a written request to the Committee whenever the investment manag ...
... Manage the Fund’s assets in accordance with the objectives and guidelines expressed in the Policy, or in a separate written agreement that has received approval from the Committee, when deviation is deemed prudent and desirable. Submit a written request to the Committee whenever the investment manag ...
INVESTMENT POLICY STATEMENT APPROVED JANUARY 30
... Treasury or agency securities. Any Certificates of Deposit purchased must have the highest credit quality rating from a nationally recognized rating. ...
... Treasury or agency securities. Any Certificates of Deposit purchased must have the highest credit quality rating from a nationally recognized rating. ...
Decimalization, trading costs, and information transmission between
... opportunity to test the impact of changes in tick size empirically. ETFs are index funds or trusts that are listed and traded intraday on an exchange. In contrast to the traditional open-end mutual funds, ETFs allow for intraday trading and authorized participants can either create or redeem ETFs by ...
... opportunity to test the impact of changes in tick size empirically. ETFs are index funds or trusts that are listed and traded intraday on an exchange. In contrast to the traditional open-end mutual funds, ETFs allow for intraday trading and authorized participants can either create or redeem ETFs by ...
The Effect of the Recent Financial Crisis on Defined
... determining their asset allocation. Firstly, the fund is interested in a good risk-return trade-off, similar to all other investors. Secondly, in contrast to traditional investors, a pension fund has specific long-term liabilities in the form of future pension benefits. Retirement payouts are often ...
... determining their asset allocation. Firstly, the fund is interested in a good risk-return trade-off, similar to all other investors. Secondly, in contrast to traditional investors, a pension fund has specific long-term liabilities in the form of future pension benefits. Retirement payouts are often ...
10-year capital market return assumptions
... public equity, based on our expectations of return standard deviations and correlations. We apply the beta to the public equity expected return to determine the expected return of the alternative asset class. For private markets, we add additional return to account for illiquidity. For hedge funds, ...
... public equity, based on our expectations of return standard deviations and correlations. We apply the beta to the public equity expected return to determine the expected return of the alternative asset class. For private markets, we add additional return to account for illiquidity. For hedge funds, ...
Vanguard Convertible Securities Fund Prospectus Investor Shares
... they often have credit ratings either below investment grade or may not be rated. In addition, the credit rating of a company’s convertible securities is generally lower than that of its nonconvertible debt securities. Convertible securities are normally considered ”junior“ securities—that is, the i ...
... they often have credit ratings either below investment grade or may not be rated. In addition, the credit rating of a company’s convertible securities is generally lower than that of its nonconvertible debt securities. Convertible securities are normally considered ”junior“ securities—that is, the i ...
here - TIAA
... The TIAA-CREF Real Property Fund LP is a new, unregistered investment offering designed specifically to provide the activelymanaged TIAA-CREF Lifecycle Funds with exposure to directly-held real estate investments. The Lifecycle Funds are the only investors in the RPF, and the RPF is not open for sal ...
... The TIAA-CREF Real Property Fund LP is a new, unregistered investment offering designed specifically to provide the activelymanaged TIAA-CREF Lifecycle Funds with exposure to directly-held real estate investments. The Lifecycle Funds are the only investors in the RPF, and the RPF is not open for sal ...