Advisers and Consultants

2017 ◽  
Author(s):  
Gordon L. Clark ◽  
Ashby H. B. Monk
Keyword(s):  
Pension Fund ◽  
Investment Strategy ◽  
Investment Strategies ◽  
Investment Management ◽  
Sovereign Wealth Funds ◽  
Roles And Responsibilities ◽  
Different Types

Chapter 8 looks at roles and responsibilities in relation to asset owners and holders and the process of investment management. A framework presents the consultant’s value in the framing of investment strategies and their implementation, emphasizing issues of process as well as substance. The focus is on the role of consultants who advise clients on investment strategy and implementation. An analytical account is provided of the various roles of investment consultants—how and why their roles vary in relation to the size of assets under management (AUM) and the ways in which they can foster or obstruct innovation. The chapter begins with a discussion of the theory of intermediation. This followed by a schematic framework of what investment consultants do in three different types of pension fund—small, medium, and large, a framework that can be applied to endowments, foundations, family offices, and sovereign wealth funds.

Mutual fund management in the period of financial crisis

2017 ◽  
Vol 31 (2) ◽  
pp. 75-81
Author(s):  
О. А. Bank
Keyword(s):  
Financial Crisis ◽  
Mutual Fund ◽  
Economic Recession ◽  
Investment Strategy ◽  
Economic Conditions ◽  
Investment Strategies ◽  
Fixed Income ◽  
Fund Management ◽  
Fund Managers ◽  
Different Types

Mutual fund managers do not have full freedom in choosing investment strategies - they are limited both by the laws and by investment declarations of the funds. Investment strategy cannot be fully changed even in financial crisis but it only can be corrected. This fact could not be characterized as a disadvantage because different types of funds are efficient in different time even during the same economic recession. Mutual fund manager should rationally invest funds of their clients: it is better to keep the maximum possible part of the portfolio in cash and instruments with fixed income on the declining market and it is better to keep shares on the rising market. However the choice of bonds also as the choice of shares should pay respect for the features of these instruments during unfavorable economic conditions. Russian mutual fund management differs from fund management in other countries as in stable economic situation so in the circumstances of financial crisis.

Sovereign Wealth Funds and Private Equity

2017 ◽  
Author(s):  
Mike Wright ◽  
Kevin Amess
Keyword(s):  
Private Equity ◽  
Investment Strategy ◽  
Fixed Income ◽  
Direct Control ◽  
Sovereign Wealth Funds ◽  
Different Types ◽  
Equity Funds ◽  
Institutional Capital ◽  
Expansion Stage ◽  
Public Equity

While the vast majority of SWFs invest in public equity and fixed income vehicles, about half invest in private equity (PE). PE includes several different types of funds investing in companies at different stages of development. Some 78% of SWFs investing in PE invest in buyouts stage funds; 72% in venture capital stage funds; 66% in growth stage funds, while 56% invest in funds investing in companies at the expansion stage. Only 41% have a strategy to invest in distressed company funds while 38% invest in the secondaries funds market. Some 14% of institutional capital raised by PE equity funds in 2015 came from sovereign wealth. This chapter argues that SWF investment in PE funds is more likely to be part of an investment strategy that seeks to maximize returns because investment in PE funds does not afford the SWF direct control over firms bought using PE funds.

scholarly journals The Malaysian Fund Managers Perspective on the Viability of Takaful Operators Investment

2020 ◽  
Vol 4 (2) ◽  
pp. 250
Author(s):  
Amirul Afif Muhamat ◽  
Mohamad Nizam Jaafar ◽  
Norzitah Abdul Karim ◽  
Azreen Roslan ◽  
Mohd Faizal Basri
Keyword(s):  
Corporate Finance ◽  
Delphi Technique ◽  
Critical Issue ◽  
Investment Strategy ◽  
Insurance Companies ◽  
Investment Strategies ◽  
Senior Executive ◽  
Fund Managers ◽  
Final Questionnaire

Takaful operators are expected by the policyholders to act beyond the role of traditional insurance companies that only offer Shariah-compliant protection services. They are expected to be commercially viable. One of the ways to be commercially viable is takaful operators must be able to invest the policyholders' funds in the profitable investment avenues. Nevertheless, the critical issue before investing the funds is to develop products that are suitable with the takaful operators' investment strategy. This study employed a questionnaire survey to gather the feedback of fund managers from 11 takaful operators in Malaysia — all were the senior staffs of takaful operators in Malaysia were surveyed. The questionnaire is developed in the form of a Likert scale ranging from 1 to 5 as the research instrument. By Delphi technique, the draft of the questionnaire was sent to a panel of experts for review, was adopted, and their feedback reflected in the final questionnaire. The experts were a shariah advisor, a corporate finance manager, and a senior executive at the central bank. Findings indicate that policyholders' expectations on their investments are met and the products so far compatible with takaful operators' investment strategies.

scholarly journals Sovereign wealth funds: Investment objectives and asset allocation strategies

2014 ◽  
Vol 3 (2) ◽  
pp. 32-52 ◽  
Author(s):  
Daniil Wagner
Keyword(s):  
Financial Crisis ◽  
Asset Allocation ◽  
Special Role ◽  
Investment Strategies ◽  
Sovereign Wealth Funds ◽  
Financing Gap ◽  
Recent Financial Crisis ◽  
Global Financial System ◽  
Allocation Strategies

Sovereign Wealth Funds (SWFs) have steadily increased their importance in the global financial system in the last decade and especially during the financial crisis period. Although the objectives and investment strategies of SWFs are quite diverse, I propose to sort them into three main groups, depending on their sponsor countries’ endowment with resources and investment objectives. I present case studies and empirical analyses that reflect SWF investment activities and try to elaborate on the special role of each SWF group. Special emphasis is given to the recent financial crisis, where SWFs also acted as bailout investors by injecting substantial capital into global financial institutions, filling a financing gap that other institutional investors could not close.

scholarly journals STRATEGIES FOR MANAGING GOVERNMENT SOVEREIGN WEALTH FUNDS DURING THE COVID-19 PANDEMIC

2021 ◽  
Vol 0 (6) ◽  
pp. 49-62
Author(s):  
Mstislav P. Afanasiev ◽  
◽  
Nataliya N. Shash ◽  
Keyword(s):  
Investment Strategy ◽  
Risk Level ◽  
Investment Strategies ◽  
Regulatory Structure ◽  
Sovereign Wealth Funds ◽  
Investment Activity ◽  
Risk Appetite ◽  
The Government ◽  
Investment Portfolios ◽  
Strategy Changes

This paper examines the transformational shifts in investment strategies of sovereign wealth funds. It analyzes the basic theory of sovereign wealth funds and justifies the need for its development. It identifies the similarities and distinguishing features of sovereign wealth funds. Four types of sovereign wealth funds are characterized, and the key requirements for their management system are clarified. Analysis results for the changing capital among the world’s largest sovereign wealth funds since the start of the Covid-19 pandemic are given. Market value trends of the Government Pension Fund Global (Norway) for 1998-2021 were revealed, and a prediction of its changes for the period until 2026 was created. The influence of the Covid-19 epidemic on the structure of investment portfolios (including the emergence of a new class of assets) was presented, along with GPFG’s investment strategy. Changes in the amount of NWF’s funds (Russia) for the period 2008-2021 were presented and its growth for 2022-2023 was predicted. The transformation of NWF’s liquidity regulatory structure was assessed. New trends in the investment activities of sovereign wealth funds, which occurred under the influence of the Covid-19 epidemic, were revealed. These include reduced risk appetite, increased investment activity, and a higher share of direct investments in asset portfolios. Individual sovereign wealth funds were used to compile a chart of their investment portfolios, which were diversified depending on investment goals and risk level. Recommendations for building the investment strategy of sovereign wealth funds were formulated, with a proposed algorithm for its formulation, including three consecutive stages. It is noted that the results of implementing the investment strategy of sovereign wealth funds directly depends on management quality, whose efficiency can be assessed using special indicators.

scholarly journals The performance of dynamic and static investment strategies in pension funds

2020 ◽  
Vol 22 (3) ◽  
pp. 235-249
Author(s):  
Stevan Luković
Keyword(s):  
Financial Market ◽  
Pension Fund ◽  
Global Financial Crisis ◽  
Investment Strategy ◽  
Retirement Savings ◽  
Investment Strategies ◽  
Investment Returns ◽  
The Global Financial Crisis ◽  
Financial Outcome ◽  
Selection Of

The retirement savings process for the members of a pension fund involves regular contribution payments made by a member and/or his employer, and the investment earnings generated by following an investment strategy. After the Global Financial Crisis, the aspect of value preservation has become particularly important to members of a pension fund, thus affecting the selection of an investment strategy. In face of increasing fluctuations on the financial market, static lifecycle strategies have become an unsatisfactory solution for members of a pension fund given the absence of a response to shocks on the financial market. In the paper, a comparative analysis of the performance of dynamic and static lifecycle strategies is carried out using bootstrap resampling in order to simulate investment returns and VaR indicators so as to assess the risk of an adverse financial outcome at retirement. The results of the analysis indicate the fact that dynamic lifecycle strategies generate more favorable financial results than static lifecycle strategies do, with a slightly increased likelihood of generating extremely unfavorable outcomes.

Potential Uses of Vinegar as a Medicine and Related in vivo Mechanisms

2016 ◽  
Vol 86 (3-4) ◽  
pp. 127-151 ◽  
Author(s):  
Zeshan Ali ◽  
Zhenbin Wang ◽  
Rai Muhammad Amir ◽  
Shoaib Younas ◽  
Asif Wali ◽  
...  
Keyword(s):  
Chemical Structure ◽  
Review Paper ◽  
Heart Diseases ◽  
Folk Medicine ◽  
Active Role ◽  
Current Review ◽  
Different Types ◽  
Positive Effect

While the use of vinegar to fi ght against infections and other crucial conditions dates back to Hippocrates, recent research has found that vinegar consumption has a positive effect on biomarkers for diabetes, cancer, and heart diseases. Different types of vinegar have been used in the world during different time periods. Vinegar is produced by a fermentation process. Foods with a high content of carbohydrates are a good source of vinegar. Review of the results of different studies performed on vinegar components reveals that the daily use of these components has a healthy impact on the physiological and chemical structure of the human body. During the era of Hippocrates, people used vinegar as a medicine to treat wounds, which means that vinegar is one of the ancient foods used as folk medicine. The purpose of the current review paper is to provide a detailed summary of the outcome of previous studies emphasizing the role of vinegar in treatment of different diseases both in acute and chronic conditions, its in vivo mechanism and the active role of different bacteria.

The Diagnosis of Lupus Anticoagulants by the Activated Partial Thromboplastin Time - The Central Role of Phosphatidyl Serine

1984 ◽  
Vol 52 (02) ◽  
pp. 172-175 ◽  
Author(s):  
P R Kelsey ◽  
K J Stevenson ◽  
L Poller
Keyword(s):  
Screening Method ◽  
Coagulation Factors ◽  
Phosphatidyl Serine ◽  
Test System ◽  
Specific Factor ◽  
Marginal Effect ◽  
Constant Composition ◽  
Lupus Anticoagulants ◽  
Different Types

SummaryLiposomes of pure phospholipids were used in a modified APTT test system and the role of phosphatidyl serine (PS) in determining the sensitivity of the test system to the presence of lupus anticoagulants was assessed. Six consecutive patients with lupus anticoagulants and seven haemophiliacs with anticoagulants directed at specific coagulation factors, were studied. Increasing the concentration of phospholipid in the test system markedly reduced the sensitivity to lupus anticoagulants but had marginal effect on the specific factor inhibitors. The same effect was achieved when the content of PS alone was increased in a vehicle liposome of constant composition.The results suggest that the lupus anticoagulants can best be detected by a screening method using an APTT test with a reagent of low PS content. The use of a reagent rich in PS will largely abolish the lupus anticoagulant’s effect on the APTT. An approach using the two different types of reagent may facilitate differentiation of lupus inhibitors from other types of anticoagulant.

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