Opportunities and Risks of Closed-End Funds for Private and Corporate Investors PDF Download
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Author: Johann Gross Publisher: GRIN Verlag ISBN: 3656749337 Category : Business & Economics Languages : en Pages : 30
Book Description
Seminar paper from the year 2013 in the subject Business economics - Investment and Finance, grade: 1,3, University of applied sciences, Nürnberg (IOM), course: International Investment & Controlling, language: English, abstract: Capital markets provide many investment opportunities, but CEFs offer the possibility of high returns and attractive alternative investments. The fund subjects can vary and so many categories have been established during the last decades. Today, investments in real estates, ships, renewable energy, planes, and other divisions are open for private and corporate investors. The main challenge for the investor is to understand the product, which is essential for an investment decision. The conception and operative stage of a fund is complex and sophisticated why many investors keep distance to these type of investments. The previous market development has shown that there are many risks and opportunities given which have to be considered. An evaluation of these aspects is cru-cial to the investment success and should be clearly observed. The legislator has stan-dardized the information system of CEFs to offer the possibility of well-arranged in-formation which is intelligible to all. Summing up, an investor has to identify the main risks and opportunities of a CEF investment and then to evaluate the possible return consistent with his portfolio strategy.
Author: Johann Gross Publisher: GRIN Verlag ISBN: 3656749337 Category : Business & Economics Languages : en Pages : 30
Book Description
Seminar paper from the year 2013 in the subject Business economics - Investment and Finance, grade: 1,3, University of applied sciences, Nürnberg (IOM), course: International Investment & Controlling, language: English, abstract: Capital markets provide many investment opportunities, but CEFs offer the possibility of high returns and attractive alternative investments. The fund subjects can vary and so many categories have been established during the last decades. Today, investments in real estates, ships, renewable energy, planes, and other divisions are open for private and corporate investors. The main challenge for the investor is to understand the product, which is essential for an investment decision. The conception and operative stage of a fund is complex and sophisticated why many investors keep distance to these type of investments. The previous market development has shown that there are many risks and opportunities given which have to be considered. An evaluation of these aspects is cru-cial to the investment success and should be clearly observed. The legislator has stan-dardized the information system of CEFs to offer the possibility of well-arranged in-formation which is intelligible to all. Summing up, an investor has to identify the main risks and opportunities of a CEF investment and then to evaluate the possible return consistent with his portfolio strategy.
Author: Seth Anderson Publisher: Springer Science & Business Media ISBN: 1475736339 Category : Business & Economics Languages : en Pages : 106
Book Description
Closed-End Investment Companies (CEICs) have experienced a significant revival of interest, both as investment vehicles and as the subject of academic research, over the past decade. This academic research has focused on the nature of closed-end funds' discounts and premiums and on the share price behavior of these firms. The first book by the authors, "Closed-End Investment Companies: Issues and Answers," addresses closed-end fund academic articles published prior to 1991. This second book addresses those articles that have appeared since that time. Closed-End Fund Pricing: Theories and Evidence is designed for the academic researcher interested in CEICs and the practitioner interested in using CEICs as an investment vehicle. The authors summarize the evolution of CEICs, present the factors thought to cause CEIC shares to trade at different levels from their net asset values, provide a complete survey of the recent academic literature on this topic, and summarize the current state of research on CEICs.
Author: Seth Anderson Publisher: Springer Science & Business Media ISBN: 9401129622 Category : Business & Economics Languages : en Pages : 146
Book Description
Closed-End Investment Companies (CEICs) were the dominant form of investment companies in the United States during the early part of this century, but interest in them declined after the 1929 stock market crash. Since 1985, however, there has been a significant revival of interest in CEICs. A substantial amount of academic research has focused on the nature of closed-end funds, discounts and premiums, and on the share price behavior of these firms, which often results in the prices differing from the net asset value of the shares. This book is designed for the academic researcher interested in CEICs and the practitioner interested in using CEICs as an investment vehicle. The authors summarize the evolution of CEICs, present the factors that cause CEIC shares to trade at different levels from their net asset values, provide a complete survey of the academic literature on this topic, and summarize the current state of research on CEICs.
Author: William A. Birdthistle Publisher: Edward Elgar Publishing ISBN: 1784715050 Category : Business & Economics Languages : en Pages : 480
Book Description
With fifty trillion in worldwide assets, the growth of mutual funds is a truly global phenomenon and deserves a broad international analysis. Local political economies and legal regimes create different regulatory preferences for the oversight of these funds, and academics, public officials, and legal practitioners wishing to understand the global investing environment will require a keen awareness of these international differences. The contributors, leading scholars in the field of investment law from around the world, provide a current legal analysis of funds from a variety of perspectives and using an array of methodologies that consider the large fundamental questions governing the role and regulation of investment funds. This volume also explores the identity and behavior of investors as well as issues surrounding less orthodox funds, such as money market funds, ETFs, and private funds.This Handbook will provide legal and financial scholars, academics, lawyers and regulators with a vital tool for working with mutual funds.
Author: Albert J. Fredman Publisher: Prentice Hall ISBN: 9780135034910 Category : Business & Economics Languages : en Pages : 492
Book Description
This book is the only up-to-date comprehensive book on the subject written for investors as well as stock brokers and financial planners.
Author: Claudia Zeisberger Publisher: John Wiley & Sons ISBN: 1119327989 Category : Business & Economics Languages : en Pages : 409
Book Description
The definitive guide to private equity for investors and finance professionals Mastering Private Equity was written with a professional audience in mind and provides a valuable and unique reference for investors, finance professionals, students and business owners looking to engage with private equity firms or invest in private equity funds. From deal sourcing to exit, LBOs to responsible investing, operational value creation to risk management, the book systematically distils the essence of private equity into core concepts and explains in detail the dynamics of venture capital, growth equity and buyout transactions. With a foreword by Henry Kravis, Co-Chairman and Co-CEO of KKR, and special guest comments by senior PE professionals. This book combines insights from leading academics and practitioners and was carefully structured to offer: A clear and concise reference for the industry expert A step-by-step guide for students and casual observers of the industry A theoretical companion to the INSEAD case book Private Equity in Action: Case Studies from Developed and Emerging Markets Features guest comments by senior PE professionals from the firms listed below: Abraaj • Adams Street Partners • Apax Partners • Baring PE Asia • Bridgepoint • The Carlyle Group • Coller Capital • Debevoise & Plimpton LLP • FMO • Foundry Group • Freshfields Bruckhaus Deringer • General Atlantic • ILPA • Intermediate Capital Group • KKR Capstone • LPEQ • Maxeda • Navis Capital • Northleaf Capital • Oaktree Capital • Partners Group • Permira • Terra Firma
Author: Claudia Zeisberger Publisher: John Wiley & Sons ISBN: 1119431166 Category : Business & Economics Languages : en Pages : 827
Book Description
This set combines the definitive guide to private equity with its case book companion, providing readers with both the tools used by industry professionals and the means to apply them to real-life investment scenarios. 1) Mastering Private Equity was written with a professional audience in mind and provides a valuable and unique reference for investors, finance professionals, students and business owners looking to engage with private equity firms or invest in private equity funds. From deal sourcing to exit, LBOs to responsible investing, operational value creation to risk management, the book systematically distils the essence of private equity into core concepts and explains in detail the dynamics of venture capital, growth equity and buyout transactions. With a foreword by Henry Kravis, Co-Chairman and Co-CEO of KKR, and special guest comments by senior PE professionals. 2) Private Equity in Action takes you on a tour of the private equity investment world through a series of case studies written by INSEAD faculty and taught at the world’s leading business schools. The book is an ideal complement to Mastering Private Equity and allows readersto apply core concepts to investment targets and portfolio companies in real-life settings. The 19 cases illustrate the managerial challenges and risk-reward dynamics common to private equity investment. Written with leading private equity firms and their advisors and rigorously tested in INSEAD's MBA, EMBA and executive education programmes, each case makes for a compelling read.
Author: Dunhong Jin Publisher: International Monetary Fund ISBN: 1513519492 Category : Business & Economics Languages : en Pages : 46
Book Description
How to prevent runs on open-end mutual funds? In recent years, markets have observed an innovation that changed the way open-end funds are priced. Alternative pricing rules (known as swing pricing) adjust funds’ net asset values to pass on funds’ trading costs to transacting shareholders. Using unique data on investor transactions in U.K. corporate bond funds, we show that swing pricing eliminates the first-mover advantage arising from the traditional pricing rule and significantly reduces redemptions during stress periods. The positive impact of alternative pricing rules on fund flows reverses in calm periods when costs associated with higher tracking error dominate the pricing effect.
Author: Johann Gross
Author: Johann Gross
Author: Seth Anderson
Author: Elroy Dimson
Author: Thomas J. Herzfeld
Author: Seth Anderson
Author: William A. Birdthistle
Author: Albert J. Fredman
Author: Claudia Zeisberger
Author: Claudia Zeisberger
Author: Dunhong Jin