Innovations in Pension Fund Management

ISBN-13: 9780804745215 / Angielski / Twarda / 2002 / 360 str.

Arun S. Muralidhar

Opis

Whether you are a pension plan sponsor rethinking investment objectives or conducting an asset allocation study, an investor interested in evaluating asset-liability value-at-risk, or an investor who wants the latest techniques to evaluate investment management skills, Innovations in Pension Fund Management gives state-of-the-art guidance on how to implement investment strategy with cutting-edge financial theory and current best practices of plan sponsors and investment managers. All aspects of fund management will be seen in a fresh light, as professionals read about current practical and theoretical twists and turns in asset allocation, risk management, and performance evaluation and implementation. For example, they will understand why asset liability management decision-making must be fully integrated; have a framework for the use of derivatives in their fund and recognize the benefits of leverage; study unique insights on how to measure risk and techniques to manage it; and learn why plan sponsors worldwide are evaluating the M3 measure and the -luck or skill- measure as a result of research cited here. These are only a few reasons why Innovations in Pension Fund Management is a must-read for any plan sponsor, investor, academic researcher, or student of the field who wants concepts explained non-technically, primarily by reliance on case studies. Readers who want coverage of analytic foundations are referred to appropriate technical appendices within the book. The author also looks at advances in human financial resource management, and management control through performance attribution, performance evaluation, and peer comparison. In short, he describes how the management process of planning, implementing, staffing, and control applies to employees within a wide spectrum of financial institutions, including private and government pension systems, endowments, life and casualty insurance programs, and central banks.