Alternative Assets And Public Pension Plan Performance
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Alternative Assets And Public Pension Plan Performance
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Author : Douglas Robertson
language : en
Publisher:
Release Date : 2008
Alternative Assets And Public Pension Plan Performance written by Douglas Robertson and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with categories.
Upgrading The Investment Policy Framework Of Public Pension Funds
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Author : Dimitri Vittas
language : en
Publisher: World Bank Publications
Release Date : 2008
Upgrading The Investment Policy Framework Of Public Pension Funds written by Dimitri Vittas and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with Alternative asset categories.
Abstract: Public pension funds have the potential to benefit from low operating costs because they enjoy economies of scale and avoid large marketing costs. But this important advantage has in most countries been dissipated by poor investment performance. The latter has been attributed to a weak governance structure, lack of independence from government interference, and a low level of transparency and public accountability. Recent years have witnessed the creation of new public pension funds in several countries, and the modernization of existing ones in others, with special emphasis placed on upgrading their investment policy framework and strengthening their governance structure. This paper focuses on the experience of four new public pension funds that have been created in Norway, Canada, Ireland and New Zealand. The paper discusses the safeguards that have been introduced to ensure their independence and their insulation from political pressures. It also reviews their performance and their evolving investment strategies. All four funds started with the romantic idea of operating as 'managers of managers' and focusing on external passive management but their strategies have progressively evolved to embrace internal active management and significant investments in alternative asset classes. The paper draws lessons for other countries that wish to modernize their public pension funds.
Public Pension Plans
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Author : United States. General Accounting Office
language : en
Publisher:
Release Date : 1995
Public Pension Plans written by United States. General Accounting Office and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995 with Civil service categories.
Upgrading The Investment Policy Framework Of Public Pension Funds
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Author : Dimitri Vittas
language : en
Publisher:
Release Date : 2012
Upgrading The Investment Policy Framework Of Public Pension Funds written by Dimitri Vittas and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012 with categories.
Public pension funds have the potential to benefit from low operating costs because they enjoy economies of scale and avoid large marketing costs. But this important advantage has in most countries been dissipated by poor investment performance. The latter has been attributed to a weak governance structure, lack of independence from government interference, and a low level of transparency and public accountability. Recent years have witnessed the creation of new public pension funds in several countries, and the modernization of existing ones in others, with special emphasis placed on upgrading their investment policy framework and strengthening their governance structure. This paper focuses on the experience of four new public pension funds that have been created in Norway, Canada, Ireland and New Zealand. The paper discusses the safeguards that have been introduced to ensure their independence and their insulation from political pressures. It also reviews their performance and their evolving investment strategies. All four funds started with the romantic idea of operating as 'managers of managers' and focusing on external passive management but their strategies have progressively evolved to embrace internal active management and significant investments in alternative asset classes. The paper draws lessons for other countries that wish to modernize their public pension funds.
Governance And Investment Of Public Pension Assets
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Author : Sudhir Rajkumar
language : en
Publisher: World Bank Publications
Release Date : 2011
Governance And Investment Of Public Pension Assets written by Sudhir Rajkumar and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011 with Social Science categories.
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.
Public Pension Plans
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Author : DIANE Publishing Company
language : en
Publisher: DIANE Publishing
Release Date : 1995-06
Public Pension Plans written by DIANE Publishing Company and has been published by DIANE Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995-06 with categories.
Addresses three points: what has been the extent of ETI's by nonfederal public employee pension plans, in terms of the amounts invested and the types of investments; did ETI programs aimed at business development realize competitive returns; and what were the economic effects of business development ETI programs, such as jobs created. 18 charts and tables.
State And Local Pension Fund Investment Performance
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Author : John E. Petersen
language : en
Publisher:
Release Date : 1980
State And Local Pension Fund Investment Performance written by John E. Petersen and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1980 with Local government categories.
Alternative Investing By State And Local Pension Funds
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Author : John E. Petersen
language : en
Publisher:
Release Date : 1980
Alternative Investing By State And Local Pension Funds written by John E. Petersen and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1980 with Pensions categories.
How To Select Investment Managers And Evaluate Performance
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Author : G. Timothy Haight
language : en
Publisher: John Wiley & Sons
Release Date : 2008-01-02
How To Select Investment Managers And Evaluate Performance written by G. Timothy Haight and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-01-02 with Business & Economics categories.
An informative guide to selecting and evaluating external investment professionals This book-one of the very few of its kind-is an invaluable aid to trustees of pension plans, endowments, and trusts who seek to chart and navigate courses for governing and overseeing the investment of the trillions of dollars under their care. It covers many aspects of this essential endeavor, including return measures, fixed income and duration, manager searches, committee meetings, and much more. G. Timothy Haight (Atherton, CA) is President of Menlo College in Silicon Valley. Stephen O. Morrell, PhD (Coral Springs, FL) is Professor at Andreas School of Business of Barry University. Glenn Ross (Baltimore, MD) is a Managing Director and cofounder of Archstone Portfolio Solutions.
Do Investment Regulations Compromise Pension Fund Performance
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Author : Pulle Subrahmanya Srinivas
language : en
Publisher: World Bank Publications
Release Date : 1999-01-01
Do Investment Regulations Compromise Pension Fund Performance written by Pulle Subrahmanya Srinivas and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999-01-01 with Business & Economics categories.
" "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.