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Investor Flows and Fragility in Corporate Bond Funds
... familiar from the banking context, and recently were on display in the run on money market mutual funds following the collapse of Lehmann Brothers.4 One thing that distinguishes banks and money market funds from other mutual funds (including bond funds) is that the latter have a floating net asset v ...
... familiar from the banking context, and recently were on display in the run on money market mutual funds following the collapse of Lehmann Brothers.4 One thing that distinguishes banks and money market funds from other mutual funds (including bond funds) is that the latter have a floating net asset v ...
Why Does the Law of One Price Fail?
... mutual funds charge fees, showed how to calculate the impact of loads and expense ratios on portfolio value, and listed the expense ratio, load, and dollar cost of the expense ratio and load for a one-year $10,000 investment in each of the four funds participants could select. All of the fee sheet i ...
... mutual funds charge fees, showed how to calculate the impact of loads and expense ratios on portfolio value, and listed the expense ratio, load, and dollar cost of the expense ratio and load for a one-year $10,000 investment in each of the four funds participants could select. All of the fee sheet i ...
Screening techniques, sustainability and risk adjusted returns.
... supervisory finance body in Luxembourg, together with other supervisory bodies have ratified these conventions to be effective with regards to stopping investments in companies that are affiliated with the manufacturing of these kind of weapons (CFFS, 2016). Since the numbers of companies involved i ...
... supervisory finance body in Luxembourg, together with other supervisory bodies have ratified these conventions to be effective with regards to stopping investments in companies that are affiliated with the manufacturing of these kind of weapons (CFFS, 2016). Since the numbers of companies involved i ...
February 26, 2013 VIA ELECTRONIC MAIL Mr. Gary Barnett
... reports prepared by the FOF Manager or its agent, such as an administrator).13 Required disclosures also are designed to ensure that FOF investors understand that the Underlying Funds and the allocations to them will change over time. Fundamentally, FOF investors want the FOF Manager to use its expe ...
... reports prepared by the FOF Manager or its agent, such as an administrator).13 Required disclosures also are designed to ensure that FOF investors understand that the Underlying Funds and the allocations to them will change over time. Fundamentally, FOF investors want the FOF Manager to use its expe ...
Directive on Alternative Investment Fund Managers
... investments with the aim of achieving absolute returns, independent of the state of the overall market. Private equity funds are typically involved in investment in private companies, a relatively illiquid asset. Hedge funds tend to use tools such as short-selling and derivatives, while private equi ...
... investments with the aim of achieving absolute returns, independent of the state of the overall market. Private equity funds are typically involved in investment in private companies, a relatively illiquid asset. Hedge funds tend to use tools such as short-selling and derivatives, while private equi ...
| Statistical Press Release Lisbon, 21 October 2013
... The new statistics on non-financial corporations are produced using a new methodology: based on information collected from a set of corporations, results for the non-financial corporations sector in Portugal are inferred. As such, annual data incorporate an estimated share of “non-response” to the I ...
... The new statistics on non-financial corporations are produced using a new methodology: based on information collected from a set of corporations, results for the non-financial corporations sector in Portugal are inferred. As such, annual data incorporate an estimated share of “non-response” to the I ...
COMPREhENSivE ANNUAl FiNANciAl REPORt
... personal property located within its boundaries. The Township is governed by a Board of Trustees composed of seven members who are elected for four year terms on an at-large partisan basis. The Board is composed of a Supervisor, Clerk, Treasurer, which are all full-time elected officials and four pa ...
... personal property located within its boundaries. The Township is governed by a Board of Trustees composed of seven members who are elected for four year terms on an at-large partisan basis. The Board is composed of a Supervisor, Clerk, Treasurer, which are all full-time elected officials and four pa ...
Systemic Risk in Hedge Funds
... require 65% of their investors to be ‘accredited’, which means that each individual investor should have a net worth of at least $1 million. Therefore, investing in hedge funds is only applicable to a select group of wealthy and sophisticated private investors or to institutional investors. These in ...
... require 65% of their investors to be ‘accredited’, which means that each individual investor should have a net worth of at least $1 million. Therefore, investing in hedge funds is only applicable to a select group of wealthy and sophisticated private investors or to institutional investors. These in ...
Towards a framework for calibrating macroprudential leverage limits
... by banks and within financial markets more generally is widely viewed as a cause of the 2007-09 global financial crisis and its severe economic impact. Negative externalities related to excessive leverage may materialise via: (i) system-wide fire sales97 to repay debts or margin calls that result in ...
... by banks and within financial markets more generally is widely viewed as a cause of the 2007-09 global financial crisis and its severe economic impact. Negative externalities related to excessive leverage may materialise via: (i) system-wide fire sales97 to repay debts or margin calls that result in ...
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 ...
Dublin City School District Comprehensive Annual Financial Report June 30, 2004
... The District provides a wide variety of educational and support services as mandated by the Ohio Revised Code or Board directives. During the 2003-2004 fiscal year the District’s fleet of 126 buses traveled approximately 10,000 miles each day providing transportation services to 7,805 public and 866 ...
... The District provides a wide variety of educational and support services as mandated by the Ohio Revised Code or Board directives. During the 2003-2004 fiscal year the District’s fleet of 126 buses traveled approximately 10,000 miles each day providing transportation services to 7,805 public and 866 ...
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 ...
Informed Trading, Liquidity Provision, and Stock Selection by Mutual
... Funds (see Figure 1A). The investment paid o¤ after two years, when the stock price reached $40. The market eventually agreed with Mr. Gabelli, after Lufthansa took over HGC at $76 per share. See Greenwald, Kahn, Sonkin and Biema (2001) for details on this case. ...
... Funds (see Figure 1A). The investment paid o¤ after two years, when the stock price reached $40. The market eventually agreed with Mr. Gabelli, after Lufthansa took over HGC at $76 per share. See Greenwald, Kahn, Sonkin and Biema (2001) for details on this case. ...
Liquidity transformation in asset management
... impact, bank loans cannot be traded before maturity without creating substantial price impact. For asset managers, however, there is no comparable measure. Their assets are typically tradeable securities, though with varying levels of liquidity. Furthermore, some price impact can be passed on to inv ...
... impact, bank loans cannot be traded before maturity without creating substantial price impact. For asset managers, however, there is no comparable measure. Their assets are typically tradeable securities, though with varying levels of liquidity. Furthermore, some price impact can be passed on to inv ...
the fragile capital structure of hedge funds and the
... minimum cost, hedge funds optimally choose to hold more cash.6 Second, the cash holding by itself in‡uences investors’decisions and a¤ects the degree of coordination risk and the probability of panic run. In fact, the probability of run is a decreasing function of cash holding. Intuitively, cash ho ...
... minimum cost, hedge funds optimally choose to hold more cash.6 Second, the cash holding by itself in‡uences investors’decisions and a¤ects the degree of coordination risk and the probability of panic run. In fact, the probability of run is a decreasing function of cash holding. Intuitively, cash ho ...
Money Market Funds - Fort Pitt Capital Group
... that pay interest that is exempt from federal income tax, including the federal alternative minimum tax. The municipal securities in which the fund 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 ext ...
... that pay interest that is exempt from federal income tax, including the federal alternative minimum tax. The municipal securities in which the fund 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 ext ...
The performance of hedge funds and mutual funds in
... an investment focus in emerging markets. Most studies only consider either hedge funds or mutual funds; we analyze both investment vehicles active in this growing market.6 Our analysis builds upon the Center for International Securities and Derivatives Markets (CISDM) database, which is one of the l ...
... an investment focus in emerging markets. Most studies only consider either hedge funds or mutual funds; we analyze both investment vehicles active in this growing market.6 Our analysis builds upon the Center for International Securities and Derivatives Markets (CISDM) database, which is one of the l ...
Tick Size and Institutional Trading Costs: Evidence from Mutual Funds
... tracking error in the benchmark portfolios. Details are presented in the Appendix. Studies of mutual fund performance, dating back to Jensen (1968), generally use the alpha of factor model regressions related to equation (3) to measure abnormal returns generated from a fund manager’s ability to pick ...
... tracking error in the benchmark portfolios. Details are presented in the Appendix. Studies of mutual fund performance, dating back to Jensen (1968), generally use the alpha of factor model regressions related to equation (3) to measure abnormal returns generated from a fund manager’s ability to pick ...
Term of reference – Need analysis RIS Latvia
... The proof of concept funding and support is a tool aiming at helping researchers, educational and research institutions, our their partnerships with industry to establish commercial potential of their research activities, namely, whether research results can be turned into products or services which ...
... The proof of concept funding and support is a tool aiming at helping researchers, educational and research institutions, our their partnerships with industry to establish commercial potential of their research activities, namely, whether research results can be turned into products or services which ...
The Impact of Costs and Returns on the Investment
... The Swiss pension fund system is part of the so-called ‘2. Säule‘ of the Swiss retirement plan. The ‘2. Säule‘ covers all pension fund payments related to a person’s professional life. The pension fund scheme helps employees (i) to save money for retirement and (ii) to hedge against invalidity and d ...
... The Swiss pension fund system is part of the so-called ‘2. Säule‘ of the Swiss retirement plan. The ‘2. Säule‘ covers all pension fund payments related to a person’s professional life. The pension fund scheme helps employees (i) to save money for retirement and (ii) to hedge against invalidity and d ...
managed futures and hedge funds: a match made in
... Under these assumptions, the basic return statistics for our four asset classes are shown in Table 1. The table shows that managed futures returns have a lower mean and a higher standard deviation than hedge fund returns. However, managed futures also exhibit positive instead of negative skewness an ...
... Under these assumptions, the basic return statistics for our four asset classes are shown in Table 1. The table shows that managed futures returns have a lower mean and a higher standard deviation than hedge fund returns. However, managed futures also exhibit positive instead of negative skewness an ...
Does Fund Size Erode Performance? Organizational Diseconomies
... of hierarchies (or authority) for the incentives of agents who do not have any control over asset-allocation decisions (see, e.g., Aghion and Tirole (1997), Stein (2002)).2 Organizational diseconomies related to the costs of hierarchies may be especially relevant for mutual funds. More concretely, ...
... of hierarchies (or authority) for the incentives of agents who do not have any control over asset-allocation decisions (see, e.g., Aghion and Tirole (1997), Stein (2002)).2 Organizational diseconomies related to the costs of hierarchies may be especially relevant for mutual funds. More concretely, ...
May 22, 2015 Investor Class shares to convert to Class A shares
... eligibility criteria (described below), former Investor Class shareholders who continue to hold Class A shares after the conversion will have the ability to make additional investments without being subject to front-end sales charges (the grandfathered load waiver). These changes will affect all 46 ...
... eligibility criteria (described below), former Investor Class shareholders who continue to hold Class A shares after the conversion will have the ability to make additional investments without being subject to front-end sales charges (the grandfathered load waiver). These changes will affect all 46 ...
Systemic Risk and Hedge Funds
... Leverage has the effect of a magnifying glass, expanding small profit opportunities into larger ones, but also expanding small losses into larger losses. And when adverse changes in market prices reduces the market value of collateral, credit is withdrawn quickly and the subsequent forced liquidati ...
... Leverage has the effect of a magnifying glass, expanding small profit opportunities into larger ones, but also expanding small losses into larger losses. And when adverse changes in market prices reduces the market value of collateral, credit is withdrawn quickly and the subsequent forced liquidati ...
The properties of hedge fund investors* actual returns
... assume constant capital exposure over time, i.e., they assume equal-weighting of capital over time. However, investors’ actual returns are determined not only by the returns they earn but also by the amount of invested capital which changes with capital flows from and into the investment. Hedge fund ...
... assume constant capital exposure over time, i.e., they assume equal-weighting of capital over time. However, investors’ actual returns are determined not only by the returns they earn but also by the amount of invested capital which changes with capital flows from and into the investment. Hedge fund ...
Fundraising
![](https://commons.wikimedia.org/wiki/Special:FilePath/Hand_holding_a_red_fundraising_box.jpg?width=300)
Fundraising or fund raising (also known as ""development"") is the process of gathering voluntary contributions of money or other resources, by requesting donations from individuals, businesses, charitable foundations, or governmental agencies (see also crowd funding). Although fundraising typically refers to efforts to gather money for non-profit organizations, it is sometimes used to refer to the identification and solicitation of investors or other sources of capital for for-profit enterprises. Traditionally, fundraising consisted mostly of asking for donations on the street or at people's doors, and this is experiencing very strong growth in the form of face-to-face fundraising, but new forms of fundraising such as online fundraising have emerged in recent years, though these are often based on older methods such as grassroots fundraising.