Published November 1995
by Assn for Investment Management & .
Written in English
|The Physical Object|
|Number of Pages||28|
This monograph investigates methods of evaluating prospective investments by noneconomic criteria such as nebulously defined factors involving social welfare and explores what the ultimate impact of such inclusions will be on investment performance. This paper documents the emergence of economically targeted investments (ETIs) and social investments on pension funds. We find that these dual purpose investments are usually concessionary and reduce portfolio investment return. When fiduciary standards are weakened, public pension fund assets become easily abused by political by: 2. Economically Targeted Investments and Social Investments: Investment Management and Pension Fund Performance Manuscript for the Research Foundation, Institute for Chartered Financial Analysts M. Wayne Marr Clemson University Clemson, SC (voice) (fax) John R. Nofsinger Washington State University Pullman, WA Cited by: 2. Examination of Pension Fund Economically Targeted Investments, which explores pension funds' use of ETIs, and how pension funds are looking beyond ETIs to explore impact investments and investments that incorporate environmental, social, and governance (ESG) factors as part of their investment strategies.
investment performance of a random sample of 71 US equity pension fund managers for the period January through December , and find that the average selectivity measure is positive and. Section 3 summarizes the debate concerning the impact of pension funds on the performance of ﬁnancial markets. More precisely, Sections , and survey the literature on the impact of pension funds on saving, capital market development and economic growth respectively. Section 4 concludes. 2. Pension Funds and Employee Performance. Pension/Investment Management The Comptroller is authorized by law to serve as investment advisor and custodian of assets for all five New York City Public Pension Funds, collectively called the New York City Retirement Systems (the Systems). The Comptroller also serves as a trustee of four of the five funds. Origins. The first theoretical model for an index fund was suggested in by Edward Renshaw and Paul Feldstein, both students at the University of their idea for an "Unmanaged Investment Company" garnered little support, it did start off a sequence of events in the s that led to the creation of the first index fund in the next decade.
Key Terms and Concepts. Assumed rate of return: The assumed, or expected, rate of return is the return target that a pension fund estimates its investments will deliver based on forecasts of economic growth, inflation, and interest median state pension fund had an assumed rate of return of percent in and the average was percent. The first section focuses on economically targeted investments (ETIs), those investments that are designed to meet some special need within the state. The second section looks at instances of pension fund activism, whereby the fund managers attempt to influence corporate behavior to improve profitability or other aspects of corporate performance. WASHINGTON, Aug. 10, /PRNewswire/ -- The Pacific Pension & Investment Institute (PPI), which convenes global pension and investment leaders representing over $25 trillion in assets under. Pension Fund Investment Management. Frank J. Fabozzi. John Wiley & Sons, - Business & Economics - pages. 0 Reviews. Every investment professional involved with the management of pension funds will embrace this wide-ranging handbook. Consisting of articles by an esteemed panel of contributors, it covers the basics as well as the.