Mutual Funds And Other Institutional Investors
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Mutual Funds And Other Institutional Investors
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Author : Irwin Friend
language : en
Publisher: McGraw-Hill Companies
Release Date : 1970
Mutual Funds And Other Institutional Investors written by Irwin Friend and has been published by McGraw-Hill Companies this book supported file pdf, txt, epub, kindle and other format this book has been release on 1970 with Business & Economics categories.
"A Twentieth Century Fund study." Includes bibliographical references.
Mutual Funds As Institutional Investors
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Author : Robert Pozen
language : en
Publisher: John Wiley and Sons
Release Date : 2011-05-09
Mutual Funds As Institutional Investors written by Robert Pozen and has been published by John Wiley and Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-05-09 with Business & Economics categories.
Every investor, student of finance and participant in the mutual fund industry needs to read this book The Fund Industry details how mutual funds are marketed, regulated, and invested in stocks and bonds. The book also describes the critical factors needed to choose a specific fund for your investment or retirement plan, including what to look for when reading prospectuses, shareholder reports and third party reviews. In addition, the book: Discusses the spread of mutual funds to Asia, Europe, and Latin AmericaCompares mutual funds to other investment vehicles such as hedge funds and ETFsShows.
Mutual Funds And Institutional Investments
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Author : Estelle James
language : en
Publisher: World Bank Publications
Release Date : 1999
Mutual Funds And Institutional Investments written by Estelle James 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 with Administrative Costs categories.
Abstract: One of the biggest criticisms leveled at defined contribution individual account (IA) components of social security systems is that they are too expensive. This paper investigates the cost-effectiveness of three options for constructing funded social security pillars: 1) IA's invested in the retail market with relatively open choice, 2) IA's invested in the institutional market with constrained choice among investment companies, and 3) a centralized fund without individual accounts or differentiated investments across individuals. Our questions: What is the most cost-effective way to organize a mandatory IA system, how does the cost of an efficient IA system compare with that of a single centralized fund, and are the cost differentials large enough to outweigh the other important considerations? Our answers, based on empirical evidence about mutual and institutional funds in the U.S.: The retail market (option 1) allows individual investors to benefit from scale economies in asset management, but at the cost of high marketing expenses that are needed to attract and aggregate small sums of money into large pools. In contrast, a centralized fund (option 3) can be much cheaper because it achieves scale economies without high marketing costs, but gives workers no choice and hence is subject to political manipulation and misallocation of capital. Mandatory IA systems can be structured to get the best of both worlds: to obtain scale economies in asset management without incurring high marketing costs or sacrificing worker choice. To accomplish this requires centralized collections, a modest level of investor service and constrained choice. The system of constrained choice described in this paper (option 2) is much cheaper than the retail market and only slightly more expensive than a single centralized fund. We estimate that it will cost only .14-.18% of assets annually. These large administrative cost savings imply a Pareto improvement so long as choice is not constrained too much.'
Institutional Investors In The New Financial Landscape
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Author : OECD
language : en
Publisher: OECD Publishing
Release Date : 1998-10-07
Institutional Investors In The New Financial Landscape written by OECD and has been published by OECD Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998-10-07 with categories.
This publication gives a comprehensive overview of the major driving forces behind recent trends, future prospects, financial market implications as well as regulatory and supervisory challenges related to the rise in institutional assets.
Captured Money Differences In The Performance Characteristics Of Retail And Institutional Mutual Funds
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Author : Jason J. Karceski
language : en
Publisher:
Release Date : 2003
Captured Money Differences In The Performance Characteristics Of Retail And Institutional Mutual Funds written by Jason J. Karceski and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with categories.
Since the early 1990s, a number of mutual funds have emerged that cater exclusively to institutional investors, i.e. pension funds, trusts and corporate benefit plans. Information on the performance and flows into institutional mutual funds provides a unique opportunity to compare the factors influencing investment decisions of institutional investors to those of individual retail investors. We find that despite significantly lower expenses, on average institutional funds do not outperform retail funds. In addition, investors in institutional funds do not chase returns the same way that retail customers do. One explanation for the lack of any flow performance relationship is that some investors in these funds do not closely monitor the investment decisions made on their behalf by trustees and other institutional money managers. We refer to this as the capture hypothesis. To test the capture hypothesis we split institutional funds based on investor clientele and minimum investment requirements (a proxy for the costs of monitoring). Consistent with the capture hypothesis, we find institutional funds with relatively low investment requirements and funds with retail mates perform worse than other institutional funds both before and after adjusting for risk and expenses. Moreover, while cash flows into institutional funds are less sensitive to fund performance than are flows into retail funds, flows into institutional funds with high investment requirements are significantly more sensitive to risk-adjusted measures of performance than flows into retail funds. This suggests that some institutional investors focus on different performance criteria than retail investors.
Index Funds
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Author : Will McClatchy
language : en
Publisher: John Wiley & Sons
Release Date : 2002-12-11
Index Funds written by Will McClatchy 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 2002-12-11 with Business & Economics categories.
A comprehensive look into the world of index funds from the top name in the business Index funds are a growing segment of the investing world, due in part to their higher average returns and a virtual certainty of achieving target index. An Insider's Guide to Index Funds fully describes the ins and outs of this investment tool that gives investors the benefit of individual stocks and lower costs associated with mutual funds. The scope of this guide includes everything from a description of various index funds to building a sensible fortfolio to saving on taxes to the risk associated with index funds. Seasoned veterans as well as novices will benefit from the depth of knowledge and proven advice that only Indexfunds.com can provide.
Esg And Responsible Institutional Investing Around The World A Critical Review
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Author : Pedro Matos
language : en
Publisher: CFA Institute Research Foundation
Release Date : 2020-05-29
Esg And Responsible Institutional Investing Around The World A Critical Review written by Pedro Matos and has been published by CFA Institute Research Foundation this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-05-29 with Business & Economics categories.
This survey examines the vibrant academic literature on environmental, social, and governance (ESG) investing. While there is no consensus on the exact list of ESG issues, responsible investors increasingly assess stocks in their portfolios based on nonfinancial data on environmental impact (e.g., carbon emissions), social impact (e.g., employee satisfaction), and governance attributes (e.g., board structure). The objective is to reduce exposure to investments that pose greater ESG risks or to influence companies to become more sustainable. One active area of research at present involves assessing portfolio risk exposure to climate change. This literature review focuses on institutional investors, which have grown in importance such that they have now become the largest holders of shares in public companies globally. Historically, institutional investors tended to concentrate their ESG efforts mostly on corporate governance (the “G” in ESG). These efforts included seeking to eliminate provisions that restrict shareholder rights and enhance managerial power, such as staggered boards, supermajority rules, golden parachutes, and poison pills. Highlights from this section: · There is no consensus on the exact list of ESG issues and their materiality. · The ESG issue that gets the most attention from institutional investors is climate change, in particular their portfolio companies’ exposure to carbon risk and “stranded assets.” · Investors should be positioning themselves for increased regulation, with the regulatory agenda being more ambitious in the European Union than in the United States. Readers might come away from this survey skeptical about the potential for ESG investing to affect positive change. I prefer to characterize the current state of the literature as having a “healthy dose of skepticism,” with much more remaining to be explored. Here, I hope the reader comes away with a call to action. For the industry practitioner, I believe that the investment industry should strive to achieve positive societal goals. CFA Institute provides an exemplary case in its Future of Finance series (www.cfainstitute.org/research/future-finance). For the academic community, I suggest we ramp up research aimed at tackling some of the open questions around the pressing societal goals of ESG investing. I am optimistic that practitioners and academics will identify meaningful ways to better harness the power of global financial markets for addressing the pressing ESG issues facing our society.
Portfolio Preferences Of Foreign Institutional Investors
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Author : Reena Aggarwal
language : en
Publisher: World Bank Publications
Release Date : 2003
Portfolio Preferences Of Foreign Institutional Investors written by Reena Aggarwal 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 2003 with Foreign exchange categories.
Institutional Investors In Global Capital Markets
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Author : Narjess Boubakri
language : en
Publisher: Emerald Group Publishing
Release Date : 2011-09-27
Institutional Investors In Global Capital Markets written by Narjess Boubakri and has been published by Emerald Group Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-09-27 with Business & Economics categories.
Examines various issues concerning the strategies of institutional investors, the role of institutional investors in corporate governance, their impact on local and international capital markets, as well as the emergence of sovereign and other asset management funds and their interactions with micro and macro economic and market environments.
Oecd Institutional Investors Statistics 2020
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Author : OECD
language : en
Publisher: OECD Publishing
Release Date : 2020-09-28
Oecd Institutional Investors Statistics 2020 written by OECD and has been published by OECD Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-09-28 with categories.
Institutional investors (investment funds, insurance companies and pension funds) are major collectors of savings and suppliers of funds to financial markets. Their role as financial intermediaries and their impact on investment strategies have grown significantly over recent years along with deregulation and globalisation of financial markets.