scholarly journals Social Investment by Union-Based Pension Funds and Labour-Sponsored Investment Funds in Canada

2002 ◽  
Vol 56 (1) ◽  
pp. 92-115 ◽  
Author(s):  
Jack Quarter ◽  
Isla Carmichael ◽  
Jorge Sousa ◽  
Susan Elgie
Keyword(s):  
Pension Fund ◽  
National Sample ◽  
Pension Funds ◽  
Investment Strategies ◽  
Social Investment ◽  
Investment Funds ◽  
Fund Investment

Summary This study has two objectives: first, to understand the extent of social investment among union-based pension funds as well as labour-sponsored investment funds in Canada; second, to understand the factors that affect social investment strategies among such funds. A national sample of 189 pension funds with assets of at least $50 million was drawn from the Canadian Pension Fund Investment Directory (Toronto: Maclean Hunter). The sample also included 10 labour-sponsored investment funds, half the number of such funds in Canada. The data indicate that pension funds in Canada have minimal social investment. There is somewhat higher social investment among labour-sponsored investment funds, and particularly labour-sponsored investment funds with genuine union sponsorship. The study also explored factors related to social investment by funds.

scholarly journals DETERMINANTS INFLUENCING PENSION FUND INVESTMENT PERFORMANCE IN KENYA

2018 ◽  
Vol 3 (1) ◽  
pp. 14
Author(s):  
Anthony Kyanesa Mutula ◽  
Dr. Assumptah Kagiri
Keyword(s):  
Pension Fund ◽  
Multiple Linear Regression Model ◽  
Target Population ◽  
Pension Funds ◽  
Primary Data ◽  
Investment Strategies ◽  
Investment Performance ◽  
Descriptive Research ◽  
Fund Investment ◽  
Regulation Compliance

Purpose: The purpose of the study was to investigate the determinants influencing pension fund investment performance in Kenya.Methodology: The study employed a descriptive research design. The study target population was all the 33 registered pension funds in Kenya, and the sample size was 66 senior employees involved in decision making. The study adopted a census approach and therefore data was collected from all the 33 registered pension funds. A questionnaire was used to collect primary data from the selected respondents. The data collected was analyzed using the statistical package for social sciences (SPSS) version 23.0. The software was used to produce frequencies, descriptive and inferential statistics which was used to derive generalizations and conclusions regarding the population. Multiple linear regression model was used to measure the relationship between the independent variables and the dependent variable. The study findings were presented using figures and tables.Results: The study findings revealed a positive and significant relationship between diversification decisions, management competency, investment strategies, regulation compliance and investment performance of pension funds in Kenya.Unique contribution to theory, practice and policy: The study recommended that the management of pension funds should establish a strong organization structure and policy implementation, which will enhance their portfolio composition; the firms should have highly competent management; should incorporate investment literacy and capability programs in their organizations; and should continue adhering to the set regulations.

Rethinking Pension Fund Investment Strategies

1994 ◽  
Vol 9 (3) ◽  
pp. 397-409 ◽  
Author(s):  
E. Richard Brownlee ◽  
S. Brooks Marsha
Keyword(s):  
Financial Reporting ◽  
Pension Fund ◽  
Pension Plan ◽  
Pension Funds ◽  
Investment Strategies ◽  
Fixed Income ◽  
Fixed Income Securities ◽  
Economic Entity ◽  
Tax Arbitrage ◽  
Fund Investment

This paper addresses the need for companies to reexamine their pension fund investment strategies because of certain changes that occurred during the 1980s that enhanced the attractiveness of fixed-income securities. Of primary importance was the issuance of a new pension accounting standard that substantially changed the determination of annual pension expense, pension plan asset and liability recognition, and pension footnote disclosures. Both the concepts and the information resulting from the pension standard have promoted a more integrative perspective of the relationship between pension funds and their corporate sponsors. This broadened perception of companies and their pension funds comprising a single economic entity has important financial consequences for corporate managements and capital providers. One such consequence pertains to pension portfolios. Fixed-income securities become a more desirable pension fund investment for two principal reasons: they reduce financial reporting risk without increasing economic risk and they are an integral component of corporate tax arbitrage, a strategy initially proposed by Fischer Black in the early 1980s.

scholarly journals Value Judgments at the Heart of Green Transformation: The Leverage of Pension Fund Investors

2021 ◽  
pp. 1-20
Author(s):  
Monika Berg
Keyword(s):  
Pension Fund ◽  
Pension Funds ◽  
Public Pension ◽  
Investment Strategies ◽  
Transformative Change ◽  
Value Judgments ◽  
Trade Offs ◽  
Public Pension Fund ◽  
Investment Capital ◽  
Transformative Function

Abstract As the urgency for green transformation grows, the question of whether finance capital can be harnessed to promote green transformation has been raised. Public pension funds are of particular interest since they are publicly governed, have long-term interest, and are growing in proportion to the global investment capital. However, transformative change demands a reprioritization of fundamental values in terms of trade-offs among economic, environmental, and social ends. This article identifies shifts in value judgments in public pension fund investments and particularly focuses on the institutional constraints by which value (re)priorities are resisted by investigating Swedish public pension funds. While there are signs of environmental embedding of the economy, I also note neutralization of the role and investment strategies of the funds, which has a stabilizing rather than a transformative function. The neutralization constrains deep green transformation, which demands politicization of the role of institutional investors.

Why Convention Dominates Pension Fund Trustee Investment Decisionmaking

1998 ◽  
Vol 30 (6) ◽  
pp. 997-1015 ◽  
Author(s):  
G L Clark
Keyword(s):  
Analogical Reasoning ◽  
Pension Fund ◽  
Investment Decisions ◽  
Urban Infrastructure ◽  
Pension Funds ◽  
Development Projects ◽  
Risk And Uncertainty ◽  
Economic Psychology ◽  
Psychological Models ◽  
Fund Investment

Pension funds may be one of the few avenues now open for financing new urban infrastructure and development projects. But convention dominates pension fund trustees' investment decisions, so it is difficult to see how the ambitions of advocates of pension fund investment can be squared with trustees' behaviour. The question is: why does convention dominate? Drawing on previously reported interviews and case studies, I propose a framework through which to understand the dominance of convention. In doing so, I identify a set of behavioural traits that structure decisions. This framework is inspired by the contributions of Kahneman and Tversky and their colleagues for understanding the economic psychology of individual decisionmaking. The paper is intended to be a realistic account of the attributes of trustee decisionmaking, recognising the ingrained and systematic nature of the identified habits, rules, and norms. The paper is also inspired by Keynes's work on risk and uncertainty. In combination, I assess the potential for investment innovation by pension fund trustees, noting the importance of analogical reasoning in extending the range of pension funds investments. The paper closes with a comparison of the proposed framework with standard treatments of decisionmaking, including reference to the robustness of psychological models of habit.

scholarly journals Determinants of Pension Fund Investment in Nigeria: The Critical Factors

2012 ◽  
Vol 2 (4) ◽  
pp. 1 ◽  
Author(s):  
Adeoti, Johnson Olabode ◽  
Gunu, Umar ◽  
Tsado, Emmanuel
Keyword(s):  
Internal Control ◽  
Pension Fund ◽  
Principal Component ◽  
Sampling Technique ◽  
Simple Random Sampling ◽  
Pension Funds ◽  
Primary Data ◽  
Defined Contribution ◽  
Retirement Benefits ◽  
Fund Investment

Pension fund is a pool of resources contributed by the employees with the aim of having enough resources to carter for their needs after retirement. Therefore, pension fund needs to be invested so as to meet the aim of the contributors. This study was carried out to evaluate the factors that determine investment of Pension Funds. The study used primary data, which were generated by the use of questionnaire. Respondents were selected from a sample of five PFAs in Nigeria using simple random sampling technique. A total of 125 questionnaires were administered on 18 items using likert scales. Data collected were analyzed using factor analysis by principal component. Economic, Risk and Security of real estate factors were identified as the major determinants of pension fund investment. The study concludes that variables such as interest rate, internal control system etc, are not critical in determining investment of pension funds in Nigeria. The study also recommends that pension fund managers should develop good systems of mitigating on the enormous risks they face in their duty as investment managers. Key words: Pension fund, Determinants, Defined contribution, Retirement benefits, Pension fund administrator

Actuaries, Pension Funds and Investment

1992 ◽  
Vol 43 ◽  
pp. 125-166
Author(s):  
T. G. Arthur ◽  
P. A. Randall
Keyword(s):  
Decision Making ◽  
Asset Allocation ◽  
Performance Monitoring ◽  
Pension Fund ◽  
Pension Funds ◽  
Investment Performance ◽  
Institutional Investment ◽  
Fund Investment

AbstractThe authors discuss the investment of pension and other institutional funds, stressing a theme of investing to meet liabilities. Their aim is to stimulate debate by actuaries and the investment community, leading to the development of better approaches to pension fund investment and its monitoring.The first part of the paper considers the matching of assets to liabilities, concentrating on a major principle applicable to actuarial valuations where assets and liabilities are mismatched.The paper goes on to consider principles of institutional investment and includes discussions of the meaning and measurement of risk, the setting of investment objectives, decision-making, asset allocation and investment performance monitoring.

scholarly journals Modelling Development of Voluntary Pension Fund Using Mathematical Model of Approximation with Lagrange Interpolation Polynomials

2021 ◽  
Vol 59 (2) ◽  
pp. 243-257
Author(s):  
Ivan Radojković ◽  
Branislav Ranđelović ◽  
Ivana Ilić
Keyword(s):  
Mathematical Model ◽  
Pension Fund ◽  
Pension System ◽  
Polynomial Interpolation ◽  
Pension Funds ◽  
Private Pension ◽  
The Stability ◽  
Corporate Social ◽  
Fund Investment ◽  
Interpolation Polynomials

Abstract Corporate social responsibility (CSR), as a concept that tackles economic, The introduction of private pension funds is the essence of the reform of the pension system in Serbia. Private pension funds in Serbia are based on voluntary benefits. Thus, the functioning of the pension system takes place in three interconnected processes: payments to a voluntary pension fund, investment of free funds, and ultimately programmed payments – pensions. The stability in the voluntary pension funds and the predictability of payments allow the quality of investment portfolio to be formed and achieve a long-term yield of investment. In this paper, we implement a well-known approximation method of Lagrange polynomial interpolation. We use it in order to find appropriate mathematical model for prediction of the number of fund members and the average salary in Serbia. This calculation is based on data (average salaries and fund member) from the last five years, i.e. from the period 2015-2019. We calculated the exact mathematical formula, then we compared the results and predictions obtained with that formula and with the formula from one of our previous works. In keeping with that, the appropriate conclusions were given..

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