years and eventually gets paid out to cover a beneficiaries school tuition and expenses. CAP paid out huge commissions to agents‚ so that in some cases out of PHP30‚000 that a customer paid in‚ only PHP15‚000-20‚000 actually went into the “trust fund” that had to grow to pay off the future tuition fees. CAP sold open-ended educational plans‚ and that the rise in fees distorted the actuarial assumptions. Holders of this type of plan can go to the most expensive schools but they pay a higher
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Act‚ Corporate Alert‚ K&L Gates. Deutsche Aktien Institute (DAI) (2010)‚ Factbook 2010‚ Frankfurt. Deutsche Bundesbank (2011)‚ Time series database‚ available at www.bundesbank.de/statistik/ statistik_zeitreihen.en.php. DSW (2008)‚ “DSW’s most recent fund Survey”‚ DSW Newsletter. April 2008. German Working Group on Corporate Governance for Asset Managers (2005)‚ Corporate Governance Code for Asset Management Companies. Goyer‚ Michael (2006)‚ “Varieties of institutional investors and national models
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CASE STUDY: Strategic Capital Management ------------------------------------------------- NOTES SCM LLC 12.9.1998 – Elena raised $20 million for her new fund Interested in Ubid‚ recently had an IPO—lucrative Internet-sector investment? Mandate of generating 10% annual returns charge investors 2% management fee of assets under management an incentive fee equal to 20% of profits. Mandatory minimum investment horizon of 2 years Ubid & Creative Computers creative computers – a
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Intro Abuse Risk Activities Policy Chapter 9 Trading and Speculation Jon Danielsson © 2009‚ 2010‚ 2011‚ 2012 LSE Michaelmas Term 2012 Intro Abuse Risk Activities Policy Introduction Intro Abuse Risk Activities Policy Speculation Force for good and force for bad • Speculators help farmers to plan production • And traders to threaten the financial system • There is no clear definition • But generally investment is long–term‚ speculation
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Kmart‚ Sears and ESL: How a Hedge Fund Became one of the World’s Largest Retailers 1. Describe recent trends in the hedge fund and private equity industry and the growing overlapbetween the two. A: Hedge funds‚ historically‚ were more interested in the buying and short selling of defaulted ornear-default bonds within a few weeks or months. This strategy was more of a short-term‚ exit-focused strategy. Now‚ however‚ some hedge funds are becoming more interested in therestructuring and long-term
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Correct answers are shown in green. Attempted answers‚ if wrong‚ are in red. Q1 | Capital Employed is equal to _________. [ 2 Marks ] (a) Fixed Assets + Current Assets +Current Liabilities (b) Fixed Assets + Current Assets - Current Liabilities (c) Fixed Assets - Current Assets + Current Liabilities (d) Fixed Assets - Current Assets - Current Liabilities (e) I am not attempting the question | Q2 | If a client buys shares worth Rs. 2‚55‚000 and sells shares worth Rs. 3‚45‚000
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transaction is called a primary market transaction. • Transfers can also be made through a financial intermediary‚ such as a bank‚ insurance company‚ or mutual fund. Intermediaries increase efficiency of money and capital markets. B) People and organizations wanting to borrow money are brought together with those who have surplus funds in the financial markets. Types of Financial Markets include… • Physical Asset vs. Financial Asset: physical asset markets are for tangible products
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fall within such categorization‚ and which are exempt‚ these include: agricultural‚ mining and commercial societies not operating for the pecuniary benefit of the members. This would include the various show societies‚ etc.;approved benefit funds‚ pension funds (see 10.22)‚ building societies‚ friendly societies and medical aid societies;clubs‚ societies‚ institutes and associations which are organised and operated solely for social welfare‚ civic improvement‚ pleasure‚recreation‚ or advancement or
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Advisors: Burning Six Billion In Thirty Days Introduction: In September‚ 2006‚ a large-sized hedge fund named Amaranth Advisors LLC lost $4.942 billion in natural gas futures trading and was forced to close their hedge fund. Although Amaranth Advisors was not exclusively an energy trading fund‚ the energy portion of their portfolio had slowly grown to represent 80% of the performance attribution of the fund. Their collapse was not entirely unforeseeable or unavoidable. Amaranth had amassed very large
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Providing Detailed Regulations for Implementation of a Number of Articles of the Law on Securities (Decree 14) . The MOF is to shortly issue a regulation to further provide guidance to the SSC on regulating and establishing investment funds‚ securities companies and fund management companies. An update will be provided once the regulation has been promulgated. 1. 1.1 Relevant bodies The State Securities Commission (SSC) The SSC is the official regulator of the stock exchange‚ and is overseen
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