Benchmarks as Limits to Arbitrage: Understanding the Low
... on prices, the typical institutional contract for delegated portfolio management could increase the demand for higher-beta investments. Other researchers have attempted to explain the low-risk anomaly on the basis of behavioral elements. For example, Karceski (2002) pointed out that mutual fund inve ...
... on prices, the typical institutional contract for delegated portfolio management could increase the demand for higher-beta investments. Other researchers have attempted to explain the low-risk anomaly on the basis of behavioral elements. For example, Karceski (2002) pointed out that mutual fund inve ...
The Price Impact of Institutional Herding!
... investors. There is also extensive evidence on the contrarian trading behavior of individual investors, who can be viewed as the proprietary traders in our model.5 What is the e¤ect of these trading decisions on asset prices? The willingness to pay for an asset on the part of career-driven investors ...
... investors. There is also extensive evidence on the contrarian trading behavior of individual investors, who can be viewed as the proprietary traders in our model.5 What is the e¤ect of these trading decisions on asset prices? The willingness to pay for an asset on the part of career-driven investors ...
Financial Report 2014--15
... need. The overall discount rate, which compares institutional dollars spent on financial aid to comprehensive fee revenue, increased to 39.6 percent for academic year 2014–15 (38.8 percent for 2013–14). Investments ...
... need. The overall discount rate, which compares institutional dollars spent on financial aid to comprehensive fee revenue, increased to 39.6 percent for academic year 2014–15 (38.8 percent for 2013–14). Investments ...
() - ETF Securities
... Because FX volatility remains historically elevated, albeit moderating, momentum is a strategy that does not have a convincing underlying foundation. Volatility in the FX market ...
... Because FX volatility remains historically elevated, albeit moderating, momentum is a strategy that does not have a convincing underlying foundation. Volatility in the FX market ...
Active or Passive
... mutual fund companies, generally because of poor results or low asset accumulation. This phenomenon, which is widespread in the fund industry, results in an overestimation of the past returns of mutual funds. For example, a mutual fund family’s selection of funds today will include only those that h ...
... mutual fund companies, generally because of poor results or low asset accumulation. This phenomenon, which is widespread in the fund industry, results in an overestimation of the past returns of mutual funds. For example, a mutual fund family’s selection of funds today will include only those that h ...
Dynamic Volatility Targeting
... behavior of the underlying instrument. As a result, options are uniquely positioned to provide the most robust downside protection while at the same time allowing for the most upside capture in the event of large and unforeseen market moves to the upside or downside. This asymmetric payoff structure ...
... behavior of the underlying instrument. As a result, options are uniquely positioned to provide the most robust downside protection while at the same time allowing for the most upside capture in the event of large and unforeseen market moves to the upside or downside. This asymmetric payoff structure ...
Trends in Institutional Investor Use of Fixed Income ETFs
... Illiquidity in Fixed Income Markets Increased regulatory pressure on financial institutions and a flooded bond market combined for depleted dealer inventories, high costs, and volatility. ...
... Illiquidity in Fixed Income Markets Increased regulatory pressure on financial institutions and a flooded bond market combined for depleted dealer inventories, high costs, and volatility. ...
Alternative Investment Funds 2015 - Skadden, Arps, Slate, Meagher
... In general, an adviser is required to register with the SEC if it has at least $100 million in assets under management (“AUM”), subject to certain exemptions. Advisers with less than $100 million in AUM are generally prohibited from registration with the SEC and instead must comply with the registra ...
... In general, an adviser is required to register with the SEC if it has at least $100 million in assets under management (“AUM”), subject to certain exemptions. Advisers with less than $100 million in AUM are generally prohibited from registration with the SEC and instead must comply with the registra ...
Performance Evaluation
... MVBi = market value of the portfolio at the beginning of period i including any cash flows at the end of the previous subperiod and including ...
... MVBi = market value of the portfolio at the beginning of period i including any cash flows at the end of the previous subperiod and including ...
Performance Evaluation
... MVBi = market value of the portfolio at the beginning of period i including any cash flows at the end of the previous subperiod and including ...
... MVBi = market value of the portfolio at the beginning of period i including any cash flows at the end of the previous subperiod and including ...
ICICI Prudential PMS Absolute Return Portfolio
... securities purchases due to settlement problems could cause the portfolio to miss certain investment opportunities. By the same rationale, the inability to sell securities held in the portfolio due to the absence of a well developed and liquid secondary market for debt securities would result, at ti ...
... securities purchases due to settlement problems could cause the portfolio to miss certain investment opportunities. By the same rationale, the inability to sell securities held in the portfolio due to the absence of a well developed and liquid secondary market for debt securities would result, at ti ...
Auto Callable Contingent Interest Notes Linked to the Lesser
... If the closing level of each Index on any Review Date (other than the first, second, third and final Review Dates) is greater than or equal to its Initial Value, the notes will be automatically called for a cash payment, for each $1,000 principal amount note, equal to (a) $1,000 plus (b) the Conting ...
... If the closing level of each Index on any Review Date (other than the first, second, third and final Review Dates) is greater than or equal to its Initial Value, the notes will be automatically called for a cash payment, for each $1,000 principal amount note, equal to (a) $1,000 plus (b) the Conting ...
Asset Allocation - Columbia Basin Foundation
... requires that they: (a) act in the sole interest of the Foundation and its beneficiaries and donors; (b) in determining the prudence of a particular investment, shall give due consideration to the role that the proposed investment or investment course of action plays within the overall portfolio of ...
... requires that they: (a) act in the sole interest of the Foundation and its beneficiaries and donors; (b) in determining the prudence of a particular investment, shall give due consideration to the role that the proposed investment or investment course of action plays within the overall portfolio of ...
The Impact of Foreign-Currency Movements on Equity
... outside the U.S. In aggregate, however, the U.S. dollar has moved cyclically since it became a free-floating currency in 1973. In fact, the index has the same 42-year average and median value of 94, suggesting that the cycles, whether long or short, have been fairly symmetrical. Simply put, what ...
... outside the U.S. In aggregate, however, the U.S. dollar has moved cyclically since it became a free-floating currency in 1973. In fact, the index has the same 42-year average and median value of 94, suggesting that the cycles, whether long or short, have been fairly symmetrical. Simply put, what ...
Policies and Procedures
... outlined in the term sheet provided by 49SAF and corresponding legal documents. Other forms of collateral or credit enhancements, such as personal or corporate guarantees, letters of credit, etc., will be considered during applicant evaluation. 11. Transparency: Receiving investment from the 49SAF w ...
... outlined in the term sheet provided by 49SAF and corresponding legal documents. Other forms of collateral or credit enhancements, such as personal or corporate guarantees, letters of credit, etc., will be considered during applicant evaluation. 11. Transparency: Receiving investment from the 49SAF w ...
prospectus - Cullen Funds
... of poor performance. Periods of poor performance and declines in value of the High Dividend Fund’s underlying equity investments can be caused, and also be further prolonged, by many circumstances that can confront the global economy such as declining consumer and business confidence, malfunctioning ...
... of poor performance. Periods of poor performance and declines in value of the High Dividend Fund’s underlying equity investments can be caused, and also be further prolonged, by many circumstances that can confront the global economy such as declining consumer and business confidence, malfunctioning ...
Vanguard Emerging Markets Select Stock Fund Prospectus Investor
... • Country/regional risk, which is the chance that world events—such as political upheaval, financial troubles, or natural disasters—will adversely affect the value of securities issued by companies in foreign countries or regions. Because the Fund may invest a large portion of its assets in securit ...
... • Country/regional risk, which is the chance that world events—such as political upheaval, financial troubles, or natural disasters—will adversely affect the value of securities issued by companies in foreign countries or regions. Because the Fund may invest a large portion of its assets in securit ...
Deka - Fundstore
... Deka International S.A. and the fund units described in this sales prospectus are not registered in accordance with the United States Investment Company Act of 1940, as amended. Due to restrictions imposed under US supervisory regulations, the units being offered in this Sales Prospectus are not int ...
... Deka International S.A. and the fund units described in this sales prospectus are not registered in accordance with the United States Investment Company Act of 1940, as amended. Due to restrictions imposed under US supervisory regulations, the units being offered in this Sales Prospectus are not int ...
Weekly Market Commentary September 12, 2016
... in the U.S. that offer services, such as health care, retail goods and financial advice, grew in August at the slowest pace since 2010, a potentially worrisome sign for third-quarter growth unless activity picks up again soon. IV) The presidential election is making some firms cautious about expandi ...
... in the U.S. that offer services, such as health care, retail goods and financial advice, grew in August at the slowest pace since 2010, a potentially worrisome sign for third-quarter growth unless activity picks up again soon. IV) The presidential election is making some firms cautious about expandi ...
catalytic first-loss capital - Global Impact Investing Network
... some are seen as not producing sufficient financial returns for their level of risk, others suffer from a lack of information or track record given the novelty of either the market or a particular type of investment opportunity. Credit enhancement can encourage the flow of capital to these investmen ...
... some are seen as not producing sufficient financial returns for their level of risk, others suffer from a lack of information or track record given the novelty of either the market or a particular type of investment opportunity. Credit enhancement can encourage the flow of capital to these investmen ...
BARCLAYS BANK PLC (Form: 424B2, Received: 12/30
... maturity) may vary from the levels at which our benchmark debt securities trade in the secondary market. Our estimated value on the Trade Date is based on our internal funding rates. Our estimated value of the Securities may be lower if such valuation were based on the levels at which our benchmark ...
... maturity) may vary from the levels at which our benchmark debt securities trade in the secondary market. Our estimated value on the Trade Date is based on our internal funding rates. Our estimated value of the Securities may be lower if such valuation were based on the levels at which our benchmark ...
16-CAPMI - BYU Marriott School
... The representative should not require a premium to bear this risk Therefore, the representative investor should demand a higher expected return to hold “B” even though its total risk is lower than that of “A”. ...
... The representative should not require a premium to bear this risk Therefore, the representative investor should demand a higher expected return to hold “B” even though its total risk is lower than that of “A”. ...
John Hancock High Yield Municipal Bond Fund
... environments due to higher than normal redemption rates. Widespread selling of fixed-income securities to satisfy redemptions during periods of reduced demand may adversely impact their price or salability. The secondary market for certain tax-exempt securities tends to be less well-developed or liq ...
... environments due to higher than normal redemption rates. Widespread selling of fixed-income securities to satisfy redemptions during periods of reduced demand may adversely impact their price or salability. The secondary market for certain tax-exempt securities tends to be less well-developed or liq ...
Controlling Institutional Trading Costs
... immediacy, with large fund traders generally more trigger-happy than CIOs, and considerably more so than small fund traders (Exhibit 1). CIOs consider speed on large orders to be important, although—significantly—they rank it well below market impact (Exhibit 2). Trading quickly may help mitigate th ...
... immediacy, with large fund traders generally more trigger-happy than CIOs, and considerably more so than small fund traders (Exhibit 1). CIOs consider speed on large orders to be important, although—significantly—they rank it well below market impact (Exhibit 2). Trading quickly may help mitigate th ...