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.

The impact of adaptability on the competitiveness of non-State pension funds

2021 ◽  
Vol 27 (11) ◽  
pp. 2606-2636
Author(s):  
Ekaterina S. YAROVAYA
Keyword(s):  
Pension Fund ◽  
Pension Funds ◽  
High Variability ◽  
Current Time ◽  
Factors Affecting ◽  
Existing Problems ◽  
State Pension ◽  
The Impact ◽  
State Pension Funds

Subject. This article deals with the analysis of competitiveness, which is an important component of the strategic management of a non-State pension fund. Objectives. The article aims to study the existing approaches to the analysis of competitiveness, determine the role of the indicator of adaptability of competitiveness of non-State pension funds in conditions of high variability of the external environment, and formulate recommendations for drawing up criteria for the enterprise competitiveness taking into account the specifics of the activities of the funds. Methods. For the study, I used analysis, and the systems, and structural and functional approaches. Results. The article defines and classifies the factors affecting the competitiveness of non-State pension funds in modern market conditions. It substantiates the influence of the indicator of adaptability on the competitiveness of non-State pension funds. The article also proposes an approach to ranking this indicator, which can be applied regardless of the chosen method for assessing the competitiveness of non-State pension funds. Conclusions. The article concludes that the testing of the assessment of the non-State pension fund competitiveness using the author-proposed adaptability indicator helps determine the level of non-State pension fund competitiveness at the current time, track the changes, and identify the existing problems, the causes of their occurrence, and thereby ensure the conditions under which the non-State pension fund has the opportunity to promptly respond and adapt to external changes thus ensuring its stability in the market.

scholarly journals Efficiency of non-state pension funds functioning in Ukraine

2018 ◽  
pp. 136-144
Author(s):  
Ivan Gaiduk
Keyword(s):  
Asset Management ◽  
Financial Services ◽  
Pension Funds ◽  
Insurance Companies ◽  
Mathematical Methods ◽  
Investment Activity ◽  
Asset Value ◽  
Net Asset Value ◽  
State Pension ◽  
State Pension Funds

The subject of the article is methodological and practical aspects of determining the efficiency of the work of non-state pension funds. The aim of the article is is to show the real state of affairs about the productive activity of non-state pension funds and analyze the effectiveness of their work. Article methodology. The article uses structural-logical, economic-statistical and economic-mathematical methods, as well as comparative analysis, a graphical method. Results of research. During the study, the dynamics of the number of NPFs, asset management companies and administrators in Ukraine, as well as the distribution of NPF participants by age group was analyzed. The index of economic efficiency of NPF activity (growth of the net value of the unit of pension contribution, profitability of investment of pension assets) is considered in accordance with the method of determining the criteria for assessing the financial condition of the NPF, developed by the National Financial Services Commission. Analytically represented: structure of the net asset value of NPF by type; the total average net asset value per participant in Ukraine and the profitability of the investment activity of the NPF. The indicator of the CAGR of the net value of assets of domestic NPFs by types for 7, 5 and 1 year is calculated. Scope of results of research. The results of the study can be used by citizens of Ukraine of different ages who are interested in providing pensions, in the practice of employees of non-state pension funds, banks and life insurance companies. Conclusions. Analyzing different groups of indicators of non-state pension fundsactivity in Ukraine, the overall low level of development of this segment of non-state pension provision was revealed. The effectiveness of the funds directly depends on the number of participants and the quality management of assets. According to statistics, in this area, the domestic non-state pension fundsstill needs to introduce serious improvements.

scholarly journals THE ROLE AND FEATURES OF INSTITUTIONAL INVESTORS INPROVIDING OF INNOVATIVEINVESTMENT

2018 ◽  
pp. 120-130
Author(s):  
С. В. Онишко ◽  
В. А. Новицький
Keyword(s):  
Institutional Investors ◽  
Pension Funds ◽  
Insurance Companies ◽  
Investment Activity ◽  
Current Structure ◽  
Investment System ◽  
State Pension ◽  
State Pension Funds

In article is analyzed the structure of innovative investment system in Ukraine. Founded that in Ukraine developed three types of non-bank innovative investors – collective investment institutes (including venture funds), non-state pension funds and insurance companies. To unveil their innovation investment activity was analyzed the current structure of investment assets and its changes. Also in article we outlined the key problems of development of innovative investment in Ukraine and proposed few ways to solve them.

scholarly journals FACTORS OF THE EFFICIENCY OF MANAGING PORTFOLIO PENSION RESERVES OF NON-STATE PENSION FUNDS

2021 ◽  
pp. 22-30
Author(s):  
Natalya Vladimirovna Ogorelkova ◽  
Irina Mikhaylovna Reutova
Keyword(s):  
Economies Of Scale ◽  
Statistical Data ◽  
Investment Strategy ◽  
Pension Funds ◽  
Econometric Models ◽  
Factors Influencing ◽  
Insured Person ◽  
Investment Portfolios ◽  
State Pension ◽  
State Pension Funds

The article is devoted to the consideration of approaches and assessment of the efficiency of management of investment portfolios of non-state pension funds. This article is a logical continuation of the previously conducted research on assessing the effectiveness of pension savings management and contains an analysis of the effectiveness of the second component of investment portfolios of non-state pension funds (NPF) — pension reserves. The article examines the factors influencing the efficiency of managing the portfolios of pension reserves of non-state pension funds on the basis of statistical data on 28 NPFs for 2013–2018. The factors chosen were the volumes and growth rates of the funds attracted from pension reserves, the share of pension reserves in the economies of scale of non-state pension funds, the presence of risk strategies (the share of shares and investment units), and the amount of remuneration of management companies. The aim of the study is to assess the influence of the selected factors on the efficiency of managing the portfolio of pension reserves of NPFs based on the construction of econometric models. The construction of one-factor and multi-factor econometric models confirms the absence of dependence of the effectiveness of portfolios of pension reserves of APFs, determined by the Sharpe ratio, on the size of attracted pension reserves per one insured person; from the share occupied by NPFs in the non-state pension market, as well as from remuneration to management companies paid by non-state pension funds. The influence of the chosen investment strategy and the growth rate of pension reserves on the efficiency of managing pension reserves of NPFs is revealed.

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 Effect of Corporate Tax on Government Expenditure in Nigeria

2021 ◽  
Vol 1 (5) ◽  
pp. 157-171
Author(s):  
Patrick Ologbenla
Keyword(s):  
Income Tax ◽  
Consumer Price Index ◽  
Government Expenditure ◽  
Value Added ◽  
Corporate Income Tax ◽  
Value Added Tax ◽  
Independent Variable ◽  
The Government ◽  
The Impact ◽  
Bound Test

The study investigated the impact of corporate income tax on the government expenditure in Nigeria. Data on corporate income tax, value added tax, interest rate, gross domestic product, petroleum profit tax and consumer price index were collected and used as independent variable in the study while data on public expenditure were collected and used as independent variable in the estimated model. The ARDL bound test was applied and the result showed that corporate income tax have long run relationship that is significant with government expenditure. Other forms of tax such as value added tax and petroleum profit tax also have significant impact on government expenditure. The study concluded that corporate income tax should be sustained in order to ensure that government continue to fulfill her obligation of provision of social amenities that will promote the economic growth of the country.

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