The Role of Taiwan REITs in Investment Portfolios

2012 ◽  
Vol 18 (1) ◽  
pp. 67-80 ◽  
Author(s):  
Hsu Wen Peng ◽  
Graeme Newell
Keyword(s):  
Investment Portfolios

scholarly journals كيفية إخراج زكاة المحافظ الاستثمارية: دراسة فقهية تأصيلية (Zakat on investment portfolios: a fiqhi Ta’sili studies)

2021 ◽  
Vol 18 (1) ◽  
pp. 94-114
Author(s):  
ياسر عبد الله عمر ◽  
حبيب الله زكريا
Keyword(s):  
Real Estate ◽  
Financial Institutions ◽  
Analytical Method ◽  
Modern Society ◽  
Muslim World ◽  
Financial Assets ◽  
Secondary Sources ◽  
Islamic Financial Institutions ◽  
Investment Portfolios

أصبحت المحافظ الاستثمارية من الأدوات المهمة في عصرنا الحاضر، وذلك لكثرة توجه الناس إليها لاستثمار أموالهم من خلالها، ولما تحمله من رؤوس أموال ضخمة. وتهدف هذه الورقة إلى بيان المسائل الفقهية المتعلقة بكيفية إخراج زكاة المحافظ الاستثمارية. وقد تناولت هذه الورقة زكاة محفظة الأصول المالية المكونة من أسهم وسندات وعملات، وكذلك ما يتعلق بمحفظة الأصول العينية من سلعٍ وعقارات ومعادن. أما المنهج المتبع في هذه الورقة فهو المنهج الاستنباطي والمنهج التحليلي وذلك بالاعتماد على المصادر الثانوية للبحث العلمي من خلال مراجعة التراث الفقهي وتحليل ما ذُكر من أقوال فقهية في كيفية إخراج زكاة المحافظ الاستثمارية. كما اعتمدت الورقة على القرارات الفقهية الصادرة عن المجمع الفقهي الإسلامي التابع لرابطة العالم الإسلامي، ومعايير هيئة المحاسبة والمراجعة للمؤسسات المالية الإسلامية AAOIFI)). وخلصت الدراسة إلى أن المحافظ الاستثمارية تجب فيها الزكاة بحسب صافي الموجودات الزكوية فيها. وتوصي هذه الورقة مؤسسات الزكاة والهيئات المختصة للعمل في تفعيل دور الزكاة في جميع القطاعات الاستثمارية، كما توصي الورقة بمواصلة الدراسات الشرعية المتخصصة خاصةً من قبل الهيئات العلمية والمجامع الفقهية في مجال الاستثمارات الحديثة وتأصيلها وربطها بالتراث الفقهي. الكلمات المفتاحية: الزكاة، المحافظ الاستثمارية، الشريعة الإسلامية. Abstract Investment portfolios have become one of the important investment tools in modern society, due to the large number of people turning to them to invest their money through them, and because of the huge capital, they carry. This paper aims to explain the jurisprudential issues related to how to pay zakat on investment portfolios. This paper dealt with zakat in the financial assets’ portfolio consisting of stocks, bonds, and currencies, as well as what is related to the in-kind assets’ portfolio of commodities, real estate, and metals. As for the approach used in this paper, it is the deductive approach and the analytical method by relying on secondary sources of scientific research by reviewing the jurisprudential heritage and analyzing the aforementioned jurisprudential sayings on how to pay zakat for investment portfolios. However, the paper also relied on the decisions issued by the Islamic Fiqh Academy of the Muslim World League, and the standards of the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI). Moreover, the study concluded that investment portfolios are subject to zakat according to the net zakat assets therein. Therefore, this paper recommends zakat institutions and specialized bodies to work in activating the role of zakat in all investment sectors. Also, this paper recommended the continuation of Shariah studies, especially by the scientific bodies and jurisprudence councils, in the field of modern investments, establishing them and linking them to the jurisprudential heritage. Keywords: Zakat, Investment portfolios, Shariah.

scholarly journals WOMEN INVESTORS AND THE VIRGINIA COMPANY IN THE EARLY SEVENTEENTH CENTURY

2019 ◽  
Vol 62 (4) ◽  
pp. 853-874 ◽  
Author(s):  
MISHA EWEN
Keyword(s):  
Seventeenth Century ◽  
New World ◽  
Domestic Sphere ◽  
North West ◽  
The North ◽  
Sugar Trade ◽  
Role Of Women ◽  
Investment Portfolios ◽  
Early English

AbstractThis article explores the role of women investors in the Virginia Company during the early seventeenth century, arguing that women determined the success of English overseas expansion by ‘adventuring’ not just their person, but their purse. Trading companies relied on the capital of women, and yet in seminal work on Virginia Company investors women have received no attention at all. This is a significant oversight, as studying the women who invested in trading companies illuminates broader issues regarding the role of women in the early English empire. This article explores why and how two women from merchant backgrounds, Rebecca Romney (d. 1644) and Katherine Hueriblock (d. 1639), managed diverse, global investment portfolios in the period before the Financial Revolution. Through company records, wills, letters, court depositions, and a surviving church memorial tablet, it reconstructs Romney's and Hueriblock's interconnected interests in ‘New World’ ventures, including in Newfoundland, the North-West Passage Company, Virginia colony, and sugar trade. Studying women investors reveals how trade and colonization shaped economic activity and investment practices in the domestic sphere and also elucidates how women, in their role as investors, helped give birth to an English empire.

scholarly journals The role of real estate and gold as inflation hedges: the Islamic influence

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Osman Gulseven ◽  
Ozgun Ekici
Keyword(s):  
Real Estate ◽  
Minimum Variance ◽  
Variance Model ◽  
Content Type ◽  
The Past ◽  
Medium Risk ◽  
Investment Portfolios ◽  
Religious Reasons ◽  
Mean Variance

Purpose This paper aims to understand how aversion to interest income in Islam may influence the demand for real estate and gold when inflation is rampant. Design/methodology/approach According to Markowitz’s mean-variance model, an optimal portfolio is one that blends maximum return with minimum variance. In investment portfolios, real estate and gold serve as inflation hedges. For religious reasons, many Muslims exclude interest-earning assets from their portfolios, however. This paper explores how this attitude influences the hedging role of real estate and gold when inflation is rampant. This paper compares optimal portfolios that include and do not include interest-earning assets. In the calculations, this study uses monthly Turkish data from 1997 until 2018. Findings The analysis shows that the best hedging instrument against inflation is an interest-earning asset. In its absence, the role of real estate and gold as inflation hedges markedly increases: For a medium-return and medium-risk portfolio, for instance, the portfolio share of gold holdings increases from 3.16% to 58.43% and that for real estate increases from 14.97% to 24.06%. Originality/value This paper is a pioneering work on the influence of Islam on the roles of real estate and gold as inflation hedges when inflation is rampant. It provides an explanation from financial theory for the strong real estate and gold demand in Turkey in the past two decades.

The role of international property in investment portfolios

1995 ◽  
Vol 6 (1) ◽  
pp. 55-63 ◽  
Author(s):  
Graeme Newell ◽  
Elaine Worzala
Keyword(s):  
Investment Portfolios

scholarly journals Structural-functional deformations of the stock market in Ukraine: macro- and micro-measurements

2019 ◽  
Vol 2019 (2) ◽  
pp. 19-65
Author(s):  
Stanislav Shyshkov
Keyword(s):  
Stock Market ◽  
Public Companies ◽  
Role Of Government ◽  
Government Bonds ◽  
Market Abuse ◽  
High Volatility ◽  
Investment Portfolios ◽  
Stock Indexes

The article highlights the factors of the classification of issuers and their securities (forms of circulation and admission to trading, listing, publicity, type of offering, liquidity, objectivity of pricing) in the context of determining the reasons for the limited number of instruments in Ukraine's regulated market and signs of its unattractiveness for issuers and investors. The author defines peculiarities of the formation and structure of investment portfolios of financial institutions and other investors (in comparison with international indicators) and difficulties of the valuation and diversification of assets. It has been revealed that a sharp reduction in the number of issuers and financial intermediaries (through variable legislation, increased regulatory requirements and controversial enforcement) led to a reduction in liquidity and competition, an increase in transaction costs, and did not contribute to market development, its infrastructure, and the objectivity of pricing. The emphasis is on the conventionalities of market benchmarks (stock indexes of shares, total capitalization) in Ukraine due to the limited financial instruments, lack of public companies, scanty liquidity, high volatility and artificiality of pricing. Indicated various signs of illiquidity of Ukraine's regulated stock market in comparison with world trading platforms (first of all, in relation to shares), as well as reasons of irregularity of the trades, mainly the purpose oriented conclusion of agreements, absence of active market and actual prices (in particular, due to unsatisfactory regulation of exchange pricing). However, it is worth emphasizing the significant role of government bonds that differ from other securities in Ukraine in that they have increased liquidity, strong investor demand, more predictability and price adequacy, which is a sufficiently anticipated factor for an underdeveloped stock market. The author highlights peculiarities and problems of pricing in the underdeveloped stock market, which considerably complicate the task of counteracting market abuse, in particular due to total illiquidity, the absence of contradiction in the implementation of international practice, and subjectivity of the existing regulatory criteria for the detection of manipulation.

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