“Sell in May and Go Away” Just Won`t Go Away
... Sandro C. Andrade, Vidhi Chhaochharia, and Michael E. Fuerst The authors performed an out-of-sample test of the sell-in-May effect documented in previous research. Reducing equity exposure starting in May and levering it up starting in November persists as a profitable market-timing strategy. On ave ...
... Sandro C. Andrade, Vidhi Chhaochharia, and Michael E. Fuerst The authors performed an out-of-sample test of the sell-in-May effect documented in previous research. Reducing equity exposure starting in May and levering it up starting in November persists as a profitable market-timing strategy. On ave ...
going further to go farther
... volatility in the markets is nothing more than a mid-cycle correction that usually comes with Central Bank policy changes, which recently happened with the U.S. and Chinese Central Banks. While this has been a painful point of time in the markets, we believe that like other difficult periods, it t ...
... volatility in the markets is nothing more than a mid-cycle correction that usually comes with Central Bank policy changes, which recently happened with the U.S. and Chinese Central Banks. While this has been a painful point of time in the markets, we believe that like other difficult periods, it t ...
Consumer Sentiment Indicators and the Economic Outlook
... The state of the labour market, the pace of economic growth and international risks are also the source of some unease. High profile events like the closure of GM Holden and Toyota manufacturing operations in Australia and difficulties at Qantas have added to the perception of economic weakness. Des ...
... The state of the labour market, the pace of economic growth and international risks are also the source of some unease. High profile events like the closure of GM Holden and Toyota manufacturing operations in Australia and difficulties at Qantas have added to the perception of economic weakness. Des ...
Alpha Australian Blue Chip Fund
... portfolio of Australian share investment managers. The Fund’s investments generally provide exposure to stocks within the S&P/ASX 300 Accumulation Index. However, the Fund has the capacity to gain exposure to investment opportunities outside the index, provided the stocks are listed on the ASX. Ther ...
... portfolio of Australian share investment managers. The Fund’s investments generally provide exposure to stocks within the S&P/ASX 300 Accumulation Index. However, the Fund has the capacity to gain exposure to investment opportunities outside the index, provided the stocks are listed on the ASX. Ther ...
Financial equilibrium with career concerns
... differs in two respects. First, Trueman assumes that the fund manager’s future compensation depends on his posterior in an exogenously given way. Instead in our model, future compensation depends on the investor’s retention decision, which is endogenous. Second, Trueman considers a partial equilibri ...
... differs in two respects. First, Trueman assumes that the fund manager’s future compensation depends on his posterior in an exogenously given way. Instead in our model, future compensation depends on the investor’s retention decision, which is endogenous. Second, Trueman considers a partial equilibri ...
Derivatives and Volatility on Indian Stock Markets
... index future, per se, has actually reduced the stock price volatility. Bologna and Covalla also found that in the post Index-future period the importance of ‘present news’ has gone up in comparison to the ‘old news’ in determining the stock price volatility. A few studies have been undertaken to eva ...
... index future, per se, has actually reduced the stock price volatility. Bologna and Covalla also found that in the post Index-future period the importance of ‘present news’ has gone up in comparison to the ‘old news’ in determining the stock price volatility. A few studies have been undertaken to eva ...
Institutional non-bank lending and the role of Debt Funds
... Consistent SME loan data do not exist on European level. As background information: often, small loans (i.e. up to and including EUR 0.25m) are used as a proxy for loans to SMEs. Even if new business volumes are also reported for small loans, the time series on a European level contains data going b ...
... Consistent SME loan data do not exist on European level. As background information: often, small loans (i.e. up to and including EUR 0.25m) are used as a proxy for loans to SMEs. Even if new business volumes are also reported for small loans, the time series on a European level contains data going b ...
Understanding ETF Liquidity and Trading
... market liquidity and make a profit. This profit margin is embedded in the bid/ask spread, which reflects the implicit costs of trading ETFs. Bid/ask spread is the difference between the bid—the highest price at which a buyer is willing to buy shares—and the ask—the lowest price at which a seller is ...
... market liquidity and make a profit. This profit margin is embedded in the bid/ask spread, which reflects the implicit costs of trading ETFs. Bid/ask spread is the difference between the bid—the highest price at which a buyer is willing to buy shares—and the ask—the lowest price at which a seller is ...
Hedge Funds, Managerial Skill, and Macroeconomic Variables
... returns. Building on this, Fung and Hsieh (2004) show that their parsimonious asset-based style factor model can explain up to 80 percent of the variation in global hedge fund portfolio returns. The Fung and Hsieh (2004) factor model includes bond factors derived from changes in term and credit spre ...
... returns. Building on this, Fung and Hsieh (2004) show that their parsimonious asset-based style factor model can explain up to 80 percent of the variation in global hedge fund portfolio returns. The Fung and Hsieh (2004) factor model includes bond factors derived from changes in term and credit spre ...
the evaluation of active manager returns in a non
... higher moments of return distributions. These higher moments (including skewness and kurtosis) capture additional elements of portfolio risk as well as more accurate information content in order to critique the active management ability of professional investors. Indeed, Cotton (2000) argues that sk ...
... higher moments of return distributions. These higher moments (including skewness and kurtosis) capture additional elements of portfolio risk as well as more accurate information content in order to critique the active management ability of professional investors. Indeed, Cotton (2000) argues that sk ...
BARCLAYS BANK PLC /ENG/ (Form: 424B2, Received: 12
... market of trading for shares or other interests in the ETF or the shares of any successor fund is scheduled to be open for trading and trading is generally conducted on such market or exchange. ...
... market of trading for shares or other interests in the ETF or the shares of any successor fund is scheduled to be open for trading and trading is generally conducted on such market or exchange. ...
Gold ETF - Sangai Investments
... Thus, the nominee* would be able to continue in the scheme without having to make any further contribution. Investor’s long term financial planning and objective of investing through SIP could still be fulfilled as per the targeted time horizon, even if he/she dies prematurely. ...
... Thus, the nominee* would be able to continue in the scheme without having to make any further contribution. Investor’s long term financial planning and objective of investing through SIP could still be fulfilled as per the targeted time horizon, even if he/she dies prematurely. ...
ETF - iOCBC
... Trading in securities, futures and/or leveraged foreign exchange and borrowing to finance the trading of securities (leveraging/gearing) can be very risky, and you may lose all or more than the amount invested or deposited. Where necessary, please seek advice from an independent financial adviser re ...
... Trading in securities, futures and/or leveraged foreign exchange and borrowing to finance the trading of securities (leveraging/gearing) can be very risky, and you may lose all or more than the amount invested or deposited. Where necessary, please seek advice from an independent financial adviser re ...
Price Measurement Paper - Statistics New Zealand
... may occur. The PPIs do not, however, purport to provide a measure of the inflationary pressures arising from all factors of production in the production process. As mentioned previously, the inputs indexes are constructed to represent the national accounting concept of ‘intermediate consumption’ (th ...
... may occur. The PPIs do not, however, purport to provide a measure of the inflationary pressures arising from all factors of production in the production process. As mentioned previously, the inputs indexes are constructed to represent the national accounting concept of ‘intermediate consumption’ (th ...
Money Market Funds - Fort Pitt Capital Group
... invests include variable rate demand notes, which are floating rate instruments with a one- or seven-day put option that typically have some form of external credit or liquidity support. The fund also may invest in other municipal securities, including commercial paper, municipal notes and other sho ...
... invests include variable rate demand notes, which are floating rate instruments with a one- or seven-day put option that typically have some form of external credit or liquidity support. The fund also may invest in other municipal securities, including commercial paper, municipal notes and other sho ...
IDRT
... We are aware of the optional fiduciary protection made available by the Pension Protection Act for some investment mapping situations. If we choose to take advantage of this protection, we understand we must meet these requirements: Participant balances are redirected (i.e. mapped) to investment o ...
... We are aware of the optional fiduciary protection made available by the Pension Protection Act for some investment mapping situations. If we choose to take advantage of this protection, we understand we must meet these requirements: Participant balances are redirected (i.e. mapped) to investment o ...
Active Growth Fund - Mornington Financial Services
... netwealth holds Australian Financial Services Licence No. 230975 and is a member of the Financial Services Council. netwealth offers a range of products and services, including netwealth Super Accelerator and netwealth Super Wrap (which are products of the netwealth Superannuation Master Fund), netw ...
... netwealth holds Australian Financial Services Licence No. 230975 and is a member of the Financial Services Council. netwealth offers a range of products and services, including netwealth Super Accelerator and netwealth Super Wrap (which are products of the netwealth Superannuation Master Fund), netw ...
Investment Options - PFM Asset Management
... Assumptions may or may not be proven correct as actual events occur, and results may depend on events outside of your or our control. Changes in assumptions may have a material effect on results. Past performance does not necessarily reflect and is not a guaranty of future results. The information c ...
... Assumptions may or may not be proven correct as actual events occur, and results may depend on events outside of your or our control. Changes in assumptions may have a material effect on results. Past performance does not necessarily reflect and is not a guaranty of future results. The information c ...
Modeling Portfolios that Contain Risky Assets I: Risk and
... like half-days, hours, quarter hours, or minutes. The shorter the measure, the more data has to be collected and analyzed. This extra work is not worth doing unless you profit sufficiently. Alternatively, we could have used a longer measure like weeks, months, or quarters. The longer the measure, th ...
... like half-days, hours, quarter hours, or minutes. The shorter the measure, the more data has to be collected and analyzed. This extra work is not worth doing unless you profit sufficiently. Alternatively, we could have used a longer measure like weeks, months, or quarters. The longer the measure, th ...
MyNorth PIMCO Diversified Fixed Interest Fund PDS
... in non-Investment Grade fixed interest securities and emerging market debt. The Fund is suitable for investors who wish to have a broadly diversified exposure to both domestic and international fixed interest markets. ...
... in non-Investment Grade fixed interest securities and emerging market debt. The Fund is suitable for investors who wish to have a broadly diversified exposure to both domestic and international fixed interest markets. ...
MOST Missouri`s 529 Plan (Advisor)
... The plan features a broad range of asset classes and investment strategies. There is no age-based option, but advisors can choose among 20+ static-allocation and individualfund options spanning most major asset classes. Many of these options are well-regarded by Morningstar analysts, including Ameri ...
... The plan features a broad range of asset classes and investment strategies. There is no age-based option, but advisors can choose among 20+ static-allocation and individualfund options spanning most major asset classes. Many of these options are well-regarded by Morningstar analysts, including Ameri ...
4212201 WFA Hedge Fund Guide
... supplement to those documents for the individual products. Unregistered investments — While many hedge fund managers register with the SEC, some managers of hedge funds and funds of hedge funds are not registered, and so are subject to less regulatory oversight. In addition, funds of hedge funds may ...
... supplement to those documents for the individual products. Unregistered investments — While many hedge fund managers register with the SEC, some managers of hedge funds and funds of hedge funds are not registered, and so are subject to less regulatory oversight. In addition, funds of hedge funds may ...
The Origins and Severity of the Public Pension Crisis
... on savings, then an individual investor will suffer considerably as a result of taking on risk. By contrast, it is difficult to envision plausible events that could lead state and local governments to experience comparable declines in income. Even the sharp downturn in revenue that followed in the w ...
... on savings, then an individual investor will suffer considerably as a result of taking on risk. By contrast, it is difficult to envision plausible events that could lead state and local governments to experience comparable declines in income. Even the sharp downturn in revenue that followed in the w ...
Study on Obstacles and Solutions to China’s Low-Carbon Industrial Investment Fund
... organize sales in the same time, as a result, high risk is its essential character. Banks and other traditional financing sources are widespread in resource allocation on an adverse selection problem, they tend to invest the funds to the enterprises which are more mature development, less risk and t ...
... organize sales in the same time, as a result, high risk is its essential character. Banks and other traditional financing sources are widespread in resource allocation on an adverse selection problem, they tend to invest the funds to the enterprises which are more mature development, less risk and t ...
View COLL 6.3 as PDF
... business day except where the scheme is a non-UCITS retail scheme operating as a FAIF. (6A) Qualifying money market funds must have at least one valuation point every business day at which the valuation is carried out on an amortised cost basis. (6B) UCITS schemes operating as short-term money marke ...
... business day except where the scheme is a non-UCITS retail scheme operating as a FAIF. (6A) Qualifying money market funds must have at least one valuation point every business day at which the valuation is carried out on an amortised cost basis. (6B) UCITS schemes operating as short-term money marke ...