Evaluating the Financial Performance of Pension Funds - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Evaluating the Financial Performance of Pension Funds write by Richard Hinz. This book was released on 2010-01-14. Evaluating the Financial Performance of Pension Funds available in PDF, EPUB and Kindle. 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.
Evaluating the Financial Performance of Pension Funds
Evaluating the Financial Performance of Pension Funds - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Evaluating the Financial Performance of Pension Funds write by Paul J. M. Klumpes. This book was released on 1998. Evaluating the Financial Performance of Pension Funds available in PDF, EPUB and Kindle. We apply an individual investor's perspective to empirically examine the economies and determinants of the financial intermediary fee or spread which affects the financial performance of a sample of 66 defined contribution and 54 defined benefit Australian pension funds during 1991-93. We find that the intermediary spread is non-trivial and causes the average net return provided to individual investors to be significantly less than that earned by the financial intermediary on the pension fund portfolio. Factors affecting the demand for pension fund reputation as financial intermediary and the marginal fee for this reputation reflect underlying structural differences between these types of fund.
Do Investment Regulations Compromise Pension Fund Performance?
Do Investment Regulations Compromise Pension Fund Performance? - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Do Investment Regulations Compromise Pension Fund Performance? write by Pulle Subrahmanya Srinivas. This book was released on 1999-01-01. Do Investment Regulations Compromise Pension Fund Performance? available in PDF, EPUB and Kindle. " "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.
Assessment of Financial Sustainability of Pension Funds in Kenya
Assessment of Financial Sustainability of Pension Funds in Kenya - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Assessment of Financial Sustainability of Pension Funds in Kenya write by Vincent Amurono. This book was released on 2024-05-16. Assessment of Financial Sustainability of Pension Funds in Kenya available in PDF, EPUB and Kindle. Bachelor Thesis from the year 2024 in the subject Business economics - Investment and Finance, grade: 1, , course: Department of mathematics and Computer Science, language: English, abstract: Pension funds are integral to ensuring financial security in retirement and fostering economic stability. In Kenya, the sustainability of these funds is crucial for supporting aging populations and facilitating long-term investment. This research project undertakes a comprehensive assessment of the financial sustainability of pension funds in Kenya, examining key factors influencing their viability and effectiveness. The study evaluates the current financial status of pension funds, analyzing asset-liability dynamics, investment strategies, and regulatory frameworks. It also investigates demographic trends. The study employs actuarial techniques and methodologies to analyze data, model future scenarios, and evaluate the risks and opportunities facing pension funds in Kenya. By examining demographic trends, inflation rates, Investment portfolio and regulatory requirements, the research aims to provide insights into the factors influencing the financial sustainability of pension funds. The findings highlight the importance of enhancing regulatory oversight, optimizing investment strategies, and addressing demographic shifts to ensure the long-term sustainability of pension funds in Kenya. The research concludes with actionable recommendations aimed at strengthening the pension system and supporting the financial well-being of retirees and the broader economy. Ultimately, this research contributes valuable insights to policymakers, regulators, and pension fund stakeholders, guiding efforts to enhance the resilience and effectiveness of Kenya's pension system in the face of evolving demographic and economic challenges.
Portfolio Performance Evaluation
Portfolio Performance Evaluation - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Portfolio Performance Evaluation write by George O. Aragon. This book was released on 2008. Portfolio Performance Evaluation available in PDF, EPUB and Kindle. This paper provides a review of the methods for measuring portfolio performance and the evidence on the performance of professionally managed investment portfolios. Traditional performance measures, strongly influenced by the Capital Asset Pricing Model of Sharpe (1964), were developed prior to 1990. We discuss some of the properties and important problems associated with these measures. We then review the more recent Conditional Performance Evaluation techniques, designed to allow for expected returns and risks that may vary over time, and thus addressing one major shortcoming of the traditional measures. We also discuss weight-based performance measures and the stochastic discount factor approach. We review the evidence that these newer measures have produced on selectivity and market timing ability for professional managed investment funds. The evidence includes equity style mutual funds, pension funds, asset allocation style funds, fixed income funds and hedge funds.
