Author: Daniel Richard VellengaPublisher:
ISBN:
Category : Civil service
Languages : en
Pages : 280
Book Description
The Investment Performance of State Retirement Funds
Author: Daniel Richard VellengaPublisher:
ISBN:
Category : Civil service
Languages : en
Pages : 280
Book Description
State and Local Pension Fund Investment Performance
Author: John E. PetersenPublisher:
ISBN:
Category : Local government
Languages : en
Pages : 118
Book Description
Pension Funds
Author: Peter O. DietzPublisher: Free Press
ISBN:
Category : Law
Languages : en
Pages : 200
Book Description
The Investment Performance of Corporate Pension Plans
Author: Steven A. BerkowitzPublisher: Praeger
ISBN:
Category : Business & Economics
Languages : en
Pages : 160
Book Description
This study examines whether pension plans achieved satisfactory investment results when compared to conventional market indexes. It also covers the impact of factors such as risk, turnover and investment allocation policy on performance. . . . Pension plan managers and accountants who audit or advise them will be most interested in obtaining this book, as will academics doing research on pension plan performance. Journal of Accountancy The authors argue that the principle causes of the poor performance record of pension plan investments are frequent portfolio reallocations and high turnover. They show that these twin strategies act more to incur unnecessary costs than to enhance profits. They proceed to develop a new concept for pension fund diversification, one that will achieve the goals the present strategies have failed to achieve. Must reading for pension fund executives, corporate money managers, and bank trust officers, this book is also a significant addition to the finance and investing curriculum.
Evaluating the Financial Performance of Pension Funds
Author: Richard HinzPublisher: World Bank Publications
ISBN: 0821381601
Category : Business & Economics
Languages : en
Pages : 300
Book Description
Countries around the world are increasingly relying on individual pension savings accounts to provide income in old age for their citizens. Although these funds have now been in place for several decades, their performance is usually measured using methods that are not meaningful in relation to this long-term objective. The recent global financial crisis has highlighted the need to develop better performance evaluation methods that are consistent with the retirement income objective of pension funds. Compiling research derived from a partnership among the World Bank, the Organisation for Economic Co-operation and Development (OECD), and three private partners, 'Evaluating the Financial Performance of Pension Funds' discusses the theoretical basis and key implementation issues related to the design of performance benchmarks based on life-cycle savings and investment principles. The book begins with an evaluation of the financial performance of funded pension systems using the standard mean variance framework. It then provides a discussion of the limitations inherent to applying these methods to pension funds and outlines the many other issues that should be addressed in developing more useful and meaningful performance measures through the formulation of pension-specific benchmark portfolios. Practical implementation issues are addressed through empirical examples of how such benchmarks could be developed. The book concludes with commentary and observations from several noted pension experts about the need for a new approach to performance measurement and the impact of the recent global financial crisis on pension funds.
Bishopsgate Stakes for the Common Council Plate
Author: The Investment Performance of U. S. Equity Pension Fund Managers
Author: T. Daniel CogginPublisher: Forgotten Books
ISBN: 9780656068548
Category : Mathematics
Languages : en
Pages : 54
Book Description
Excerpt from The Investment Performance of U. S. Equity Pension Fund Managers: An Empirical Investigation There are differences in the portfolio characteristics and investment styles among the Earnings Growth, market-oriented, price-driven, and Small Capitalization managers. It is therefore useful to examine performance measures for each investment style separately. Table 11 presents mean values of the performance measures for each style of manager. It also provides the aggregated rank of each group. These ranks do not vary between the models for a given benchmark. However, they do vary somewhat across benchmarks for a given model. The period 1983-1990 was a period in which the overall stock market was up substantially. For the eight years, the Russell 3000 grew at an annualized rate of and the s&p 500 grew at a 15 60% rate. For the majority of this period (up until the end of 1988) the value investment style was favored by the market relative to other investment styles. Our analog of this style is the price-driven index which grew at an annualized rate of This compares to the growth investment style (represented by the Earnings Growth index) which grew at a rate, and the Small Capitalization style (represented by the Russell 2000 index) which grew at a rate. In Table II we see that, using the broad stock market indices as benchmarks, a negative mean selectivity value is consistently observed for the growth and small capitalization managers. This is consistent with the preference of the stock market for the period. However, if we look at the Style Index as a benchmark, we see that these managers (as well all other styles) have positive selectivity values. Thus, while we observe a positive mean selectivity value across All Managers for each benchmark, it does appear to make a difference which benchmark portfolio is used (and, perhaps, which time period) when we move to the level of investment style. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
Alternative Investing by State and Local Pension Funds
Author: John E. PetersenPublisher:
ISBN:
Category : Pensions
Languages : en
Pages : 142
Book Description
Investment Performance
Author: California. Legislature. Joint Committee on Public Pension Fund InvestmentsPublisher:
ISBN:
Category : Pension trusts
Languages : en
Pages : 38
Book Description
State Pension Fund Investment Performance
Author: Judith S. LohmanPublisher:
ISBN:
Category : Investment of public funds
Languages : en
Pages :
Book Description
Discusses which states give the state treasurer sole authority to invest state pension funds and which have investment boards or committees and, how the investment performance of Connecticut's pension funds compares to that of states that give investment authority to a committee or board.