Agarwal Daniel Naik
... performance and chose funds on that basis, when future performance seems to be unrelated to past performance. To resolve this puzzle, Berk and Green (2002) present a model of active portfolio management where such behavior arises as a rational response on the part of the investors. They argue that ...
... performance and chose funds on that basis, when future performance seems to be unrelated to past performance. To resolve this puzzle, Berk and Green (2002) present a model of active portfolio management where such behavior arises as a rational response on the part of the investors. They argue that ...
Venture Capital Fund
... These materials provided by WithumSmith+Brown, PC (“Withum”) are intended to provide general information on a particular subject or subjects and are not to be considered an authoritative or necessarily an exhaustive treatment of such subject(s) and are not intended to be a substitute for reading the ...
... These materials provided by WithumSmith+Brown, PC (“Withum”) are intended to provide general information on a particular subject or subjects and are not to be considered an authoritative or necessarily an exhaustive treatment of such subject(s) and are not intended to be a substitute for reading the ...
Investor Preferences and Demand for Active Management
... Specifically, we find that flows into actively managed growth funds significantly increase with investor sensitivity to upper tail events. At the same time, flows into value funds significantly increase with investor aversion to lower tail events. These findings are consistent with our theoretical p ...
... Specifically, we find that flows into actively managed growth funds significantly increase with investor sensitivity to upper tail events. At the same time, flows into value funds significantly increase with investor aversion to lower tail events. These findings are consistent with our theoretical p ...
NBER WORKING PAPER SERIES INDIVIDUAL INVESTOR MUTUAL-FUND FLOWS Zoran Ivkovich Scott Weisbenner
... and outflows, and it might well be that redemptions are related to past performance. Also, inflows and outflows might be related to other fund characteristics very differently. This paper studies the relation between individual investors’ mutual fund flows and a range of fund characteristics (past p ...
... and outflows, and it might well be that redemptions are related to past performance. Also, inflows and outflows might be related to other fund characteristics very differently. This paper studies the relation between individual investors’ mutual fund flows and a range of fund characteristics (past p ...
Investor Preferences and Demand for Active Management
... We also investigate if our main results are robust to the control of market-wide investor sentiment. While investor sentiment may lead to a strong demand for either downside protection or upside potential at a particular point in time, our framework allows for the coexistence of the demands for both ...
... We also investigate if our main results are robust to the control of market-wide investor sentiment. While investor sentiment may lead to a strong demand for either downside protection or upside potential at a particular point in time, our framework allows for the coexistence of the demands for both ...
policy for nonprofit endowment funds
... 0.25% annually of any remaining balance If a donor establishes more than one fund with the same administrative fee schedule, then the ...
... 0.25% annually of any remaining balance If a donor establishes more than one fund with the same administrative fee schedule, then the ...
cordros money market fund - Cordros Asset Management
... This Prospectus has been registered as such by the SEC. No person has been authorised to give any information or to make any representation other than those contained in this document in connection with the offering of Units of the Fund and, if given or made, such information or representations must ...
... This Prospectus has been registered as such by the SEC. No person has been authorised to give any information or to make any representation other than those contained in this document in connection with the offering of Units of the Fund and, if given or made, such information or representations must ...
Similarities and Differences between US and German Regulation of
... considered representative of the broader EU-wide regulation in this study; however, it is important to note that the implementation date and/or details of regulation in other EU-countries may differ. Funds might use derivatives for various reasons, e.g., to hedge interest rates, currency, or market ...
... considered representative of the broader EU-wide regulation in this study; however, it is important to note that the implementation date and/or details of regulation in other EU-countries may differ. Funds might use derivatives for various reasons, e.g., to hedge interest rates, currency, or market ...
Challenges of Financing Infrastructure
... However while the potential for superannuation funds to invest in infrastructure is strong, there are no guarantees that this will come to fruition. Blockages that prevent the optimal investment in infrastructure assets include: ...
... However while the potential for superannuation funds to invest in infrastructure is strong, there are no guarantees that this will come to fruition. Blockages that prevent the optimal investment in infrastructure assets include: ...
prospectus
... amendments to money market fund regulations (2014 Amendments). Under the 2014 Amendments, money market funds that qualify as “retail” (retail money market funds) or “government” (government money market funds) are permitted to utilize amortized cost to value their portfolio securities and to transac ...
... amendments to money market fund regulations (2014 Amendments). Under the 2014 Amendments, money market funds that qualify as “retail” (retail money market funds) or “government” (government money market funds) are permitted to utilize amortized cost to value their portfolio securities and to transac ...
The Impact of Leverage on Hedge Fund Performance
... leverage. According to their research, average gross leverage, which is defined as (Long positions + Short positions)/Net Asset Value, is 2.1 across all hedge funds. A low result in average gross leverage is because most of hedge funds belong to the equity sector where leverage is low, while some f ...
... leverage. According to their research, average gross leverage, which is defined as (Long positions + Short positions)/Net Asset Value, is 2.1 across all hedge funds. A low result in average gross leverage is because most of hedge funds belong to the equity sector where leverage is low, while some f ...
Money - Microsoft
... earnings announcements and other important corporate events as well as access to audio conference calls. ...
... earnings announcements and other important corporate events as well as access to audio conference calls. ...
The Effect of the Recent Financial Crisis on Defined
... account. Bovenberg et al. (2007) have shown that individual investors make risk-return tradeoffs over their full life cycle. Essentially, this means that stocks and other risky assets are part of the optimal asset allocation for all age cohorts, as De Jong et al. (2008) notes. They also state that y ...
... account. Bovenberg et al. (2007) have shown that individual investors make risk-return tradeoffs over their full life cycle. Essentially, this means that stocks and other risky assets are part of the optimal asset allocation for all age cohorts, as De Jong et al. (2008) notes. They also state that y ...
(Amendment) Law, 2015 - Cayman Islands Monetary Authority
... AIFM of shares, trust units or partnership interests of an EU Connected Fund it manages to or with investors domiciled or with a registered office in the EU; “Member State” means a state which is (a) a member of the EU; or (b) a part of the EEA in which the AIFMD has been implemented;”; and “regulat ...
... AIFM of shares, trust units or partnership interests of an EU Connected Fund it manages to or with investors domiciled or with a registered office in the EU; “Member State” means a state which is (a) a member of the EU; or (b) a part of the EEA in which the AIFMD has been implemented;”; and “regulat ...
Does portfolio manager ownership affect fund performance? Finnish
... effective on March 2005, since when all portfolio managers have been required to disclose how much of their personal wealth is invested in the funds they run. This information is published in the fund’s Statement of Additional Information and is available to investors on request. In the U.S., the ne ...
... effective on March 2005, since when all portfolio managers have been required to disclose how much of their personal wealth is invested in the funds they run. This information is published in the fund’s Statement of Additional Information and is available to investors on request. In the U.S., the ne ...
L. Favre, A. Signer. "The difficulties of measuring the benefits of hedge funds" Journal of Alternative Investment (Summer 2002)
... nature of hedge funds is also reflected in financial publications, which have devoted a great deal of copy to this investment category over the past few months. State-of-the-art The arguments used for showing the superiority of hedge funds over traditional investments, such as bonds and equities, is ...
... nature of hedge funds is also reflected in financial publications, which have devoted a great deal of copy to this investment category over the past few months. State-of-the-art The arguments used for showing the superiority of hedge funds over traditional investments, such as bonds and equities, is ...
Mutual Fund Performance and the Incentive to Generate Alpha
... I. Heterogeneity in Retail Investor Preferences and the Market for Retail Mutual Fund Most studies of retail mutual funds implicitly assume a homogeneous product market, where funds primarily compete on after-fee performance for homogeneous investors. Yet, the fees that retail mutual funds charge (e ...
... I. Heterogeneity in Retail Investor Preferences and the Market for Retail Mutual Fund Most studies of retail mutual funds implicitly assume a homogeneous product market, where funds primarily compete on after-fee performance for homogeneous investors. Yet, the fees that retail mutual funds charge (e ...
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 ...
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 ...
Tsung Sheng Liu , Polaris Financial Group, Taiwan
... • Polaris has become the 4th largest investment trust company in Taiwan in 2007 • Discounting bond fund AUM, Polaris’ market share stands at 8.5% and ranks as the 2nd largest Investment Trust Company Polaris Investment Trust Historical AUM ...
... • Polaris has become the 4th largest investment trust company in Taiwan in 2007 • Discounting bond fund AUM, Polaris’ market share stands at 8.5% and ranks as the 2nd largest Investment Trust Company Polaris Investment Trust Historical AUM ...
Quantitative Easing - Pensions and Lifetime Savings Association
... valuations. Hundreds of DB schemes are due to have their valuations in December 2011 and March 2012 whilst the immediate impacts of QE are feeding through the economy. Because pension funds are long‐term investors, unrealistic scheme valuations, recovery plans, and elevated PPF levies based on a ...
... valuations. Hundreds of DB schemes are due to have their valuations in December 2011 and March 2012 whilst the immediate impacts of QE are feeding through the economy. Because pension funds are long‐term investors, unrealistic scheme valuations, recovery plans, and elevated PPF levies based on a ...
Explanatory Material
... paragraph 66(2B)(a)]; and • at the time of the acquisition: the member and his or her spouse or former spouse are separated and there is no reasonable likelihood of cohabitation being resumed [Schedule 1, item 2, paragraph 66(2B)(b)]; and • the acquisition occurs because of reasons directly connecte ...
... paragraph 66(2B)(a)]; and • at the time of the acquisition: the member and his or her spouse or former spouse are separated and there is no reasonable likelihood of cohabitation being resumed [Schedule 1, item 2, paragraph 66(2B)(b)]; and • the acquisition occurs because of reasons directly connecte ...
UK FUNDS MARKET PRACTICE GROUP INVESTMENT
... conversions will be effected separately before or after the shares concerned are transferred, by arrangement with the Ceding or Acquiring Party as appropriate and do not form part of this market practice, which is concerned only with the transfer of a portfolio and re-registration of title to the sh ...
... conversions will be effected separately before or after the shares concerned are transferred, by arrangement with the Ceding or Acquiring Party as appropriate and do not form part of this market practice, which is concerned only with the transfer of a portfolio and re-registration of title to the sh ...
Endowment and Similar Funds
... designated revenue accounts (J-239590-3XXXX). Participation is based on a daily weighted average for the month--which is ascertained from the STIP history file. The total STIP income available for the month is distributed in proportion to the weighted average. Endowment income balances, however, par ...
... designated revenue accounts (J-239590-3XXXX). Participation is based on a daily weighted average for the month--which is ascertained from the STIP history file. The total STIP income available for the month is distributed in proportion to the weighted average. Endowment income balances, however, par ...
The Adequacy of Investment Choices Offered By 401(k) Plans Edwin
... the portfolios they can hold. What choices should a corporation offer to plan participants? For those participants for whom 401(k) investments are their sole financial assets, the corporation should offer a sufficient set of investment alternatives so that the investor could construct the same effic ...
... the portfolios they can hold. What choices should a corporation offer to plan participants? For those participants for whom 401(k) investments are their sole financial assets, the corporation should offer a sufficient set of investment alternatives so that the investor could construct the same effic ...