Perspectives On Investment Management Of Public Pension Funds

Author : Sudhir Rajkumar,Mark C. Dorfman
Publisher : World Bank Publications
Page : 364 pages
File Size : 53,9 Mb
Release : 2011
Category : Social Science
ISBN : 9780821384701

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Governance and Investment of Public Pension Assets by Sudhir Rajkumar,Mark C. Dorfman Pdf

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 : Frank J. Fabozzi, CFA
Publisher : John Wiley & Sons
Page : 172 pages
File Size : 42,7 Mb
Release : 1999-02-15
Category : Business & Economics
ISBN : 1883249562

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Perspectives on Investment Management of Public Pension Funds by Frank J. Fabozzi, CFA Pdf

Perspectives on Investment Management of Public Pension Funds covers all aspects of the management of public pension funds. Experts in the field provide practical guidelines for managers on the implications of investment strategies behind these funds.

Author : John R. Evans,Michael Orszag,John R. Piggott
Publisher : Edward Elgar Publishing
Page : 296 pages
File Size : 51,8 Mb
Release : 2008
Category : Business & Economics
ISBN : STANFORD:36105131799830

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Pension Fund Governance by John R. Evans,Michael Orszag,John R. Piggott Pdf

The academic literature on pension governance is sparse and this book will fill some important gaps by bringing together original contributions from around the world on subjects related to the area. The book initially lays out the main frameworks for pension fund governance and then goes on to examine global governance practice and experience and country studies on pension funds in the United States and Australia. The final section of this in-depth study discusses the role of government guarantees. The editors and contributors to this book have struck a balance between the various dimensions of the governance problem. Whilst ensuring that the theoretical frameworks are represented, at the same time, they have also recognized that it is vital to report on empirical work. Private pensions are examined closely, while also acknowledging that public pension funds are extremely important actors. Pension Fund Governance will appeal to academics and researchers of financial economics and financial management, as well as those in the fields of public finance and public sector economics. Furthermore the book will also find an audience among those in commercial and policy roles which involve pensions, including pension actuaries.

Author : Kees Koedijk,Alfred Slager,Jaap van Dam
Publisher : John Wiley & Sons
Page : 392 pages
File Size : 51,7 Mb
Release : 2019-01-29
Category : Business & Economics
ISBN : 9781119437727

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Achieving Investment Excellence by Kees Koedijk,Alfred Slager,Jaap van Dam Pdf

Crucial methods, tactics and tools for successful pension fund management Achieving Investment Excellence offers trustees and asset managers a comprehensive handbook for improving the quality of their investments. With a stated goal of substantially and sustainably improving annual returns, this book clarifies and demystifies important concepts surrounding trustee duties and responsibilities, investment strategies, analysis, evaluation and much more. Low interest rates are making the high cost of future pension payouts fraught with tension, even as the time and knowledge required to manage these funds appropriately increases — it is no wonder that pensions are increasingly seen as a financial liability. Now more than ever, it is critical that trustees understand exactly what contributes to investment success — and what detracts from it. This book details the roles, the tools and the strategies that make pension funds pay off. Understand the role of pension funds and the fiduciary duty of trustees Learn the tools and kills you need to build profound and lasting investment excellence Analyse, diagnose and improve investment quality of funds using concrete tools and instruments Study illustrative examples that demonstrate critical implementation and execution advice Packed with expert insight, crucial tools and real-life examples, this book is an important resource for those tasked with governing these. Achieving Investment Excellence provides the expert insight, clear guidance and key wisdom you need to manage these funds successfully.

Author : Michael Orszag, John Evans, John Piggott
Publisher : Edward Elgar Publishing
Page : 284 pages
File Size : 47,7 Mb
Release : 2008-06-30
Category : Business & Economics
ISBN : 9781781007662

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Pension fund governance by Michael Orszag, John Evans, John Piggott Pdf

'This collection of essays on a rapidly developing topic is a valuable addition to the field and the editors must be congratulated on beginning to bring the area to the attention of thinkers and government (not necessarily the same thing), who are charged with dealing with the challenge of controlling private pension provision.' - Robin Ellison, Pensions

Author : Dimitri Vittas
Publisher : World Bank Publications
Page : 68 pages
File Size : 53,8 Mb
Release : 2008
Category : Alternative asset
ISBN : 8210379456XXX

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Upgrading the Investment Policy Framework of Public Pension Funds by Dimitri Vittas Pdf

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.

Author : Judith W. Mares
Publisher : Unknown
Page : 42 pages
File Size : 53,9 Mb
Release : 1980
Category : Government publications
ISBN : UIUC:30112105069311

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The Use of Pension Fund Capital by Judith W. Mares Pdf

Author : Leslie Hannah
Publisher : University of Pennsylvania Press
Page : 200 pages
File Size : 42,5 Mb
Release : 1988
Category : Business & Economics
ISBN : PSU:000013874186

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Pension Asset Management by Leslie Hannah Pdf

Author : Keith P. Ambachtsheer,Don Ezra
Publisher : John Wiley & Sons
Page : 264 pages
File Size : 44,6 Mb
Release : 1998-04-23
Category : Business & Economics
ISBN : 0471246557

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Pension Fund Excellence by Keith P. Ambachtsheer,Don Ezra Pdf

Neue Ideen für mehr Erfolg! Alles, was ein Manager über Rentenfonds wissen muß - die Zusammenstellung effektiver Fonds, ihr Management, die optimale Wertsteigerung - wird hier anhand in- und ausländischer Fallbeispiele eingängig erklärt. Nutzerfreundlich werden die wichtigsten Schritte in Übersichten zusammengestellt. Verschiedene moderne Ansätze zum Rentenfondsmanagement werden kritisch bewertet.

Author : Isla Carmichael
Publisher : Unknown
Page : 226 pages
File Size : 52,6 Mb
Release : 2005
Category : Business & Economics
ISBN : 9780802036476

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Pension Power by Isla Carmichael Pdf

. In "Pension Power," Isla Carmichael argues that unions could ? and should ? have a new role to play in the economy by gaining control over their members? pension funds.

Author : E. Philip Davis
Publisher : Unknown
Page : 337 pages
File Size : 42,8 Mb
Release : 1995
Category : Capital market
ISBN : OCLC:56134071

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Pension Funds: Retirement-Income Security and Capital Markets: An International Perspective by E. Philip Davis Pdf

This book is essential reading for students and specialists in finance, financial markets and institutions, public policy, macroeconomics, and economic development; for practitioners in the fields of pension funds, corporate finance and institutional investment; and for regulators and policy-makers active in the maintenance and reform of pension provisions in OECD countries, developing countries, and the former Communist states.

Author : Richard Hinz,Rudolph Heinz P.,Pablo Antol n,Juan Yermo
Publisher : World Bank Publications
Page : 296 pages
File Size : 55,7 Mb
Release : 2010-01-14
Category : Business & Economics
ISBN : 0821381601

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Evaluating the Financial Performance of Pension Funds by Richard Hinz,Rudolph Heinz P.,Pablo Antol n,Juan Yermo Pdf

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.

Author : David Hess,Gregorio Impavido
Publisher : World Bank Publications
Page : 40 pages
File Size : 40,8 Mb
Release : 2003
Category : Corporate governance
ISBN : 8210379456XXX

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Governance of Public Pension Funds by David Hess,Gregorio Impavido Pdf

An understanding of corporate governance theory can promote the adoption of appropriate governance tools to limit agency problems in public pension fund management. The absence of a market for corporate control hinders the translation of lessons from the private sector corporate world to public pension governance. The establishment of a fit, and proper governing body for public pension funds, thus may be even more important than the maintenance of a comparable body for private sector corporations. In particular, behavioral controls should be carefully designed.

Author : OECD
Publisher : OECD Publishing
Page : 180 pages
File Size : 49,9 Mb
Release : 2019-11-27
Category : Electronic
ISBN : 9789264876101

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Pensions at a Glance 2019 OECD and G20 Indicators by OECD Pdf

The 2019 edition of Pensions at a Glance highlights the pension reforms undertaken by OECD countries over the last two years. Moreover, two special chapters focus on non-standard work and pensions in OECD countries, take stock of different approaches to organising pensions for non-standard workers in the OECD, discuss why non-standard work raises pension issues and suggest how pension settings could be improved.

Author : Zvi Bodie,Olivia Mitchell,John A. Turner
Publisher : University of Pennsylvania Press
Page : 352 pages
File Size : 46,5 Mb
Release : 1996-01-29
Category : Business & Economics
ISBN : 0812233344

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Securing Employer-Based Pensions by Zvi Bodie,Olivia Mitchell,John A. Turner Pdf

As the world's population ages, millions will rely on their pension plans as the mainstay of retirement income. This book asks whether supply will meet demand in the new economic order. Pension systems in Germany, Japan, Canada, and the U.S. are compared, along with those in many developing nations. This volume is intended for employees and managers, pension policymakers, actuaries and lawyers, and benefits consultants, all of whom are busy changing their pension structures to meet global challenges. Sensible tax, insurance, and funding policies—as well as investment management and actuarial oversight—are central to building and maintaining a successful public and private pension system. Tracing the interaction of these factors across a variety of environments, Securing Employer-Based Pensions explores the immediate need for increased pension security in retirement systems in both developed and developing nations.