Green Urban Development: The Impact Investment Strategy of Canadian Pension Funds

2021 ◽  
Author(s):  
Alexander Beath ◽  
Sebastien Betermier ◽  
Maaike Van Bragt ◽  
Quentin Spehner ◽  
Yuedan Liu
Keyword(s):  
Urban Development ◽  
Investment Strategy ◽  
Pension Funds ◽  
The Impact

scholarly journals Investing assets of non-state pension funds in bonds

2019 ◽  
Vol 17 (1) ◽  
pp. 1-14
Author(s):  
Svіtlana Achkasova ◽  
Anastasiia Urum
Keyword(s):  
Regression Analysis ◽  
Consumer Price Index ◽  
Practical Importance ◽  
Investment Strategy ◽  
Pension Funds ◽  
Investment Activity ◽  
The Government ◽  
State Pension ◽  
The Impact ◽  
State Pension Funds

Non-state pension funds play an important role in the development of the economy. The development of the system of non-state pension provision, which includes non-state pension funds, complies with the main aspects of the Ukraine – 2020 Sustainable Development Strategy. The importance of selecting investment areas for non-state pension funds results in the need to further explore and find ways to improve the investment process. The purpose of the article is to develop theoretical and methodological aspects of investing assets of non-state pension funds in bonds. The study object is the investment activity of non-state pension funds. The following methods are used: vertical and horizontal analysis, SWOT analysis, regression analysis, graphical and tabular methods. It is determined that effective investment of non-state pension funds’ assets provides an increase in the value of assets, which in turn enables participants of non-state pension funds to enhance the quality of life. Involving non-state pension funds in the stock market and their interaction with other entities in this market are illustrated by the investment in bonds example. The market of bonds in Ukraine for 2013-2017 has been analyzed and the tendency towards development has been determined. The possibilities and threats of investment of non-state pension funds’ assets in bonds are substantiated. The approach to determining the impact of factors on the government bond yields, in particular, bonds of domestic state loans and bonds of enterprises has been further developed. This approach, unlike the existing ones, provides for the use of regression analysis and takes into account changes in the environment according to factors (consumer price index and household income for government bonds, the number of enterprises and the discount rate of the National Bank of Ukraine for bonds of enterprises). That is of practical importance and will make it possible to improve the investment strategy of non-state pension fund assets in bonds.

scholarly journals THE EFFECT OF GOVERNMENT DECISIONS ON THE EFFICIENCY OF THE INVESTMENT FUNDS MARKET IN POLAND

2019 ◽  
Vol 20 (3) ◽  
pp. 573-594 ◽  
Author(s):  
Dorota Witkowska ◽  
Krzysztof Kompa ◽  
Grzegorz Mentel
Keyword(s):  
Mutual Funds ◽  
Statistical Tests ◽  
Investment Strategy ◽  
Pension Funds ◽  
Investment Efficiency ◽  
Investment Fund ◽  
Investment Funds ◽  
Stable Growth ◽  
Polish Government ◽  
The Impact

Polish government introduced crucial changes concerning conditions of the pension funds functioning in the years 2011–2014. This article focuses on explaining the impact of these political decisions on efficiency of investment fund market in Poland. Therefore, the article aims (1) to find out if changing in functioning of pension funds also affected the efficiency of mutual funds which provide stable growth investment policy (i.e. similar investment strategy as pension funds) and (2) to check which type of investment funds, pension or mutual, were more efficient in the sense of returns and risks under new regulations. The analysis is provided for selected mutual funds using daily, weekly and monthly returns. The whole period of analysis, years 2009–2015, is divided into six sub-periods according to the three events, that essentially changed the functioning of the pension funds. Statistical tests for in pairs comparisons of returns and risks, and ratios for investment efficiency evaluation were applied. Findings show that pension funds performed better than mutual funds which are managed by the same company. More, the changes of the rules for pension funds’ functioning caused an increase of risk and a decrease of efficiency of the considered investment funds’ portfolios.

Projections of the Impact of Pension Funds on Investment in Infrastructure and Growth in Latin America

2010 ◽  
Author(s):  
Javier Alonso ◽  
Jasmina Bjelic ◽  
Carlos Herrera ◽  
soledad hormazabal ◽  
Ivonne Ordooez ◽  
...  
Keyword(s):  
Latin America ◽  
Pension Funds ◽  
The Impact

scholarly journals Pension Fund Management, Investment Performance, and Herding in the Context of Regulatory Changes: New Evidence from the Polish Pension System

Risks ◽  
2020 ◽  
Vol 9 (1) ◽  
pp. 6
Author(s):  
Łukasz Dopierała ◽  
Magdalena Mosionek-Schweda
Keyword(s):  
Pension System ◽  
Pension Funds ◽  
Management Style ◽  
Market Model ◽  
Herd Behavior ◽  
Investment Performance ◽  
Fund Managers ◽  
Regulatory Changes ◽  
Increased Risk ◽  
The Impact

The aim of this paper is to assess the impact of reforms introduced in the operation of Polish open pension funds on management style, risk exposure and related investment performance. The article analyzes the impact of the reformed regulations on the herd behavior of fund managers. In particular, we examined whether the elimination of the internal benchmark for fund evaluation impacts the elimination or reduction of herd behavior. We proposed a multi-factor market model to evaluate the performance of funds investing in various types of instruments. Moreover, we used panel estimation to directly take into account the impact of the internal benchmark on herd behavior. Our results indicate that highly regulated funds may slightly outperform passive benchmarks and their unregulated competitors. In the case of Polish open pension funds, limiting investments in Treasury debt instruments clearly resulted in increased risk and volatility of returns. However, it also raised competition between funds and decreased the herd behavior. Additionally, the withdrawal of the mechanism evaluating funds based on the internal benchmark was also important in reducing herd behavior.

Growth Optimal Investment Strategy: The Impact of Reallocation Frequency and Heavy Tails

2012 ◽  
Vol 13 (2) ◽  
pp. 228-240 ◽  
Author(s):  
G. Bamberg ◽  
A. Neuhierl
Keyword(s):  
Heavy Tails ◽  
Geometric Mean ◽  
Asymptotic Optimality ◽  
Optimal Investment ◽  
Investment Strategy ◽  
Risky Asset ◽  
Optimal Investment Strategy ◽  
Optimality Properties ◽  
Heavy Tailed ◽  
The Impact

Abstract The strategy to maximize the long-term growth rate of final wealth (maximum expected log strategy, maximum geometric mean strategy, Kelly criterion) is based on probability theoretic underpinnings and has asymptotic optimality properties. This article reviews the allocation of wealth in a two-asset economy with one risky asset and a risk-free asset. It is also shown that the optimal fraction to be invested in the risky asset (i) depends on the length of the basic return period and (ii) is lower for heavy-tailed log returns than for light-tailed log returns.

The impact of spatial aggregation on urban development analyses

2014 ◽  
Vol 47 ◽  
pp. 46-56 ◽  
Author(s):  
Chris Jacobs-Crisioni ◽  
Piet Rietveld ◽  
Eric Koomen
Keyword(s):  
Urban Development ◽  
Spatial Aggregation ◽  
The Impact

PRODUCTION AND SUPPLY OF CERAMIC OIL LAMPS IN HELLENISTIC AND EARLY ROMAN NEA PAPHOS, CYPRUS: INTEGRATED TYPOLOGICAL, CHRONOLOGICAL AND PROVENANCE STUDIES

2021 ◽  
pp. 1-67
Author(s):  
Małgorzata Kajzer ◽  
Edyta Marzec ◽  
Evangelia Kiriatzi ◽  
Noémi S. Müller
Keyword(s):  
Urban Development ◽  
Thin Section ◽  
Local Production ◽  
Provenance Studies ◽  
Political Transformations ◽  
Manufacturing Techniques ◽  
Thin Section Petrography ◽  
The Impact ◽  
Xrf Spectroscopy

This paper presents the results of a multipronged approach to the study of the Hellenistic and Early Roman ceramic oil lamps excavated at the Agora of Nea Paphos in Cyprus. The assemblage was studied macroscopically, and selected samples were analysed through WD-XRF spectroscopy and thin section petrography, combined with refiring tests. The integrated results revealed that local production changed through time in terms of lamp shapes, manufacturing techniques and clay recipes, while imported lamps originated from a range of sources. The transformations seen in the local production correlate with changes in the origin of imported lamp supply and the impact of other centres on the local lamp manufacture. These patterns in production and supply could be most likely associated with political transformations and urban development.

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