Do Investment Regulations Compromise Pension Fund Performance? PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download Do Investment Regulations Compromise Pension Fund Performance? PDF full book. Access full book title Do Investment Regulations Compromise Pension Fund Performance? by Pulle Subrahmanya Srinivas. Download full books in PDF and EPUB format.
Author: Pulle Subrahmanya Srinivas Publisher: World Bank Publications ISBN: 9780821344880 Category : Business & Economics Languages : en Pages : 56
Book Description
" "Draconian" regulations have created distortions in asset management, limited opportunities for diversification, and, as a consequence have hampered, the performance of pension funds." This volume shows that the return to retirement assets, expected replacement rates, and, hence, the net welfare gain from pension reform is lower under a draconian regulatory framework than under a more liberal pension fund investment regime. Important policy conclusions of the paper are that existing regulatory regimes should be liberalized as soon as possible to allow pension fund investments in a wider array of financial instruments and that regulations should require evaluation of pension fund performance against market benchmarks as opposed to exclusive focus on comparisons with industry averages. The paper also suggests a review of the current structure of the private pension fund industry in Latin America and an evaluation against alternatives in the light of actual performance experience.
Author: Pulle Subrahmanya Srinivas Publisher: World Bank Publications ISBN: 9780821344880 Category : Business & Economics Languages : en Pages : 56
Book Description
" "Draconian" regulations have created distortions in asset management, limited opportunities for diversification, and, as a consequence have hampered, the performance of pension funds." This volume shows that the return to retirement assets, expected replacement rates, and, hence, the net welfare gain from pension reform is lower under a draconian regulatory framework than under a more liberal pension fund investment regime. Important policy conclusions of the paper are that existing regulatory regimes should be liberalized as soon as possible to allow pension fund investments in a wider array of financial instruments and that regulations should require evaluation of pension fund performance against market benchmarks as opposed to exclusive focus on comparisons with industry averages. The paper also suggests a review of the current structure of the private pension fund industry in Latin America and an evaluation against alternatives in the light of actual performance experience.
Author: Sudhir Rajkumar Publisher: World Bank Publications ISBN: 0821384708 Category : Social Science Languages : en Pages : 364
Book Description
And key messages -- Key principles of governance and investment management -- Governance of public pension assets -- Governance structures and accountabilities -- Qualification, selection, and operation of governing bodies -- Operational policies and procedures -- Managing fiscal pressures in defined-benefit schemes -- Policy responses to turbulent financial markets -- Investment of public pension assets -- Defining the investment policy framework for public pension funds -- Managing risk for different cohorts in defined-contribution schemes -- An asset-liability approach to strategic asset allocation for pension funds -- In-house investment versus outsourcing to external investment managers -- International investments and managing the resulting currency risk -- Alternative asset classes and new investment themes.
Author: Michel Martins de Morais Publisher: Editora Dialética ISBN: 6588066112 Category : Law Languages : en Pages : 55
Book Description
Challenges faced by pension funds today include steady increases in life expectancy, frequent changes in the accounting rules, low interest rates and poor equity market returns. It is possible to tackle the difficulties encountered by pension funds not only by raising contributions and/or reducing benefits, but also by improving the way in which pension funds invest. In spite of some changes in the past few years, Brazilian pension funds investment management remains subject to strict constraints. The findings of this study, carried out in 2007, suggest that, even though the results of conducted tests deny, to some extent, the need for further adjustments in investment regulations, concluding this way would not be accurate. There are, in fact, strong reasons to believe that the high interest rates environment experienced over the last years contaminated these results. Furthermore, with a clear downward trend in interest rates, it is possible to imply that, if nothing is done, pension funds will lack flexibility when they need it the most.
Author: American Bar Association. House of Delegates Publisher: American Bar Association ISBN: 9781590318737 Category : Law Languages : en Pages : 216
Book Description
The Model Rules of Professional Conduct provides an up-to-date resource for information on legal ethics. Federal, state and local courts in all jurisdictions look to the Rules for guidance in solving lawyer malpractice cases, disciplinary actions, disqualification issues, sanctions questions and much more. In this volume, black-letter Rules of Professional Conduct are followed by numbered Comments that explain each Rule's purpose and provide suggestions for its practical application. The Rules will help you identify proper conduct in a variety of given situations, review those instances where discretionary action is possible, and define the nature of the relationship between you and your clients, colleagues and the courts.
Author: Estelle James Publisher: World Bank Publications ISBN: Category : Administrative Costs Languages : en Pages : 80
Book Description
Organizing individual retirement accounts through the institutional market and with constrained choice could substantially lower administrative costs. The tradeoff: rebidding problems, weaker performance incentives, inflexibility in the face of unforeseen contingencies, and an increased probability of corruption, collusion, and regulatory capture.
Author: Walter Russell Mead Publisher: Springer Science & Business Media ISBN: 9781402073298 Category : Business & Economics Languages : en Pages : 692
Book Description
The Bridge to a Global Middle Class compiles a unique series of papers originally commissioned by the Council on Foreign Relations in the wake of the financial crises of 1997-1998. This thought-provoking retrospective culls the views of economists, international financial institutions, Wall Street, organized labor and varying public-interest organizations on the issue of how to fortify our global financial infrastructure. Their effort is the culmination of an 18-month study - The Project on Development, Trade, and International Finance - that seeks to encourage the evolution of middle-class oriented economic development in emerging market countries. In addressing the world economic problems that led to the crises and examining methods to improve the workings of the world's financial markets, they offer ideas, policy recommendations, and suggest the concrete forms these might take, in the drive to transition the world economy toward strategies that offer the developing world an improved standard of living. These papers make a convincing case for middle-class-oriented economic development as the key to global prosperity and stability. U.S. and international policy-makers will find these insightful discussions valuable in forming new policy and providing the appropriate stimulus for economic development in emerging economies.
Author: P. Desmond Brunton Publisher: IDB ISBN: 1931003777 Category : Pensions Languages : en Pages : 469
Book Description
"Based primarily on papers delivered at Pension Reform in English-Speaking Caribbean Countries : an International Symposium and Policy Seminar, which was held June 4-6, 2003, at the Caribbean Development Bank's Conference Centre in Wildey, St. Michael, Barbados"--Acknowledgments.
Author: Publisher: World Bank Publications ISBN: 9780821359532 Category : Social Science Languages : en Pages : 120
Book Description
This publication examines whether a social protection system (broadly defined to include policy interventions, public institutions, and the regulation of private institutions to address welfare costs of problems such as job loss and extended unemployment, health episodes, old age, and life-time poverty) exists in Chile or whether it is has a set of loosely co-ordinated programmes instead. It assesses whether households are provided with appropriate tools to mitigate risks to their income, identifies gaps in coverage, and sets out guidelines, grounded in a conceptual framework, designed to increase the effectiveness of social protection.
Author: OECD Publisher: OECD Publishing ISBN: 9264189807 Category : Languages : en Pages : 271
Book Description
This book provides a description of private pension systems in selected OECD countries as well as information on administrative costs and related policy issues.
Author: Roberto Rezende Rocha Publisher: World Bank Publications ISBN: 082136667X Category : Business & Economics Languages : en Pages : 292
Book Description
Developing Annuities Markets: The Experience of Chile is part of a multicountry World Bank project analyzing the market for retirement products. Among countries that have reformed their pension systems since the early 1990s, the Chilean case has emerged as the most relevant for drawing policy lessons on the role of the private sector in the provision of retirement income for two reasons: the depth, sophistication, and efficiency of the country's retirement products market, and the fact that this market was successfully developed from scratch by a middle-income country. The book examines in det.
Author: Pulle Subrahmanya Srinivas
Author: Pulle Subrahmanya Srinivas
Author: Sudhir Rajkumar
Author: Michel Martins de Morais
Author: American Bar Association. House of Delegates
Author: Estelle James
Author: Walter Russell Mead
Author: P. Desmond Brunton
Author: 
Author: OECD
Author: Roberto Rezende Rocha