fund management
Indexing versus active mutual fund management
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The purpose of this paper is to examine the benefits of active mutual fund management investing versus index funds. In general, we find that index funds outperform actively managed funds for most equity and all bond fund categories on both a total return and after
Measuring the value of active fund management
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Purpose The purpose of this paper is to examine the value of active fund management using a sample of hybrid mutual funds. Design/methodology/approach Instead of using traditional risk-adjusted measures, the paper employs an alternative attribution return
Securitization, sukuk and fund management potential to be realized by Islamic Financial Institutions
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Investments by most of the Islamic Financial Institutions (IFIs) are concentrated in short term asset build-up based on murabahah and ijarah. Recent innovative ventures like sukuk issues, however, point out that IFIs have a big potential to capture larger segment of financial
Optimal pension fund management under multi-period risk minimization
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In this paper, a multi-period stochastic optimization model for solving a problem of optimal selection of a pension fund by a pension plan member is presented. In our model, members of the pension plan are given a possibility to switch periodically between J types of funds
Dynamic asset allocation under uncertainty for pension fund management
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Decision making in managing the asset and liability structure of a pension fund can be supported by stochastic dynamic optimization. We discuss our model, which is based on data analysis and forecast for the asset-side as well as a simulation model for the liability
Fund returns and trading expenses: Evidence on the value of active fund management
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The relation between mutual fund returns and trading expenses provides a powerful test of the value of active management however, the empirical evidence on this relation is mixed. We argue that the inconsistent evidence stems from the use of turnover as a proxy for trading
The rise of anonymous teams in fund management
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The fraction of actively managed mutual funds that report being anonymously team managed increased by a factor of 4-5 between 1993 and 2004. The familys decision to use an anonymous team or to share credit for a funds performance with a named manager
Comparing active and passive fund management in emerging markets
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Since 200 emerging markets have represented over two thirds of global GDP growth, presenting diversification, as well as excess return opportunities for US equity investors. Much debate surrounding equity markets has focused on the performance of active fund
Efficiency of Fund Management of Sharia Banking in Indonesia (Based On Parametric Approach)
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The high level of competition among Islamic banks is required the bank to keep manage existing funds more efficiently. Currently, the competition among Islamic banks back to the level of price competition (margin profit sharing), where the rate of profit sharing is slightly
Waqf fund management in Kuwait and Egypt: Can Malaysia learns from their experiences
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While the waqf fund management throughout Muslims countries varies it has not been explored in a manner that can contribute to benchmarking best practices and learn from that experience to deliver better outcomes to the stakeholders. As the Egyptian and Kuwaiti
The influence of internal control and competence of human resources on village fund management and the implications on the quality of village financial reports
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The objective of the present research is to analyze internal control and human resource competences influences on rural fund management which has implications on the quality of village financial statement. The study is descriptive and causal research using sampling
A multiple goal approach to the choice of pension fund management
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The purpose of this paper is to address a problem faced by the financial and personnel departments of many firms. This paper presents a goal programming model to help firms choose an investment manager for the firms pension funds. l The Employee Retirement
Corporate governance and hedge fund management
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Capital and risk structures of all proprietary trading operations are essentially the same across organizational forms One simply cannot look at the books of a convertible arbitrage, short or long/short portfolio, fixed income arbitrage, managed futures portfolio, or short term This paper extends the Goetzmann et al.(J Financ 58: 1685 171 2003) model to the case of partial information, where the expected return of a hedge fund is not observable but known to be either high or low. The fund manager can dynamically update his belief about
ISO/IEC 1550 a Basis for Generally Accepted Sound Process Models in Financial Institutions: A Case Study about Venture Capital Fund Management
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For the past 3 years, the interest of using ISO/IEC 15504 on core processes of the financial sector (ie non-IT processes) has been challenged in Luxemburg by Risk managers, Compliance managers and Supervisory Authorities. Although previous case studies has
Analysis of cash waqf fund management in Indonesia: an Analytic Network Process (ANP) method approach
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Waqf is one of Islamic law that concern to peoples lives which is has a function for the community interest in order to obey to Allah SWT. In practice, waqf in Indonesia faces many hard problems, because commonly known as non-productive waqf. Talking about cash
Conservation trust funds, protected area management effectiveness and conservation outcomes: lessons from the Global Conservation Fund
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ABSTRACT The Global Conservation Fund (GCF) is a global programme intended to address the problems associated with protected areas that lack sufficient resources to function effectively. In operation since 200 GCF has built a global portfolio of over 65
Behaviour and Investment Actions within Fund Managers and their Markets-Developing and analysing a grounded theory of fund management
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The financial crisis of 2007-09 has raised questions concerning orthodox ideas of how financial markets operate and how financial institution firms (and their decision makers) behave in such market settings. The crisis has revealed the need for new thinking in these
The impact of performance-based fees on pension fund management
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Recently, the Department of Labor and the Securities and Exchange Commission gave their approval to performance-based fee arrangements for managers of pension funds. The change in attitude of these government agencies is widely viewed as an enlightened
Dynamic asset allocation strategy for intertemporal pension fund management with time-varying volatility
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In this paper, we examine the optimal dynamic asset allocation strategy in relation to a pension fund with a time-varying investment opportunity set. The sources of changes in the investment opportunity set in our model possess time-varying volatility and risk premia. We