Moving from a pay-as-you-go to a funded system

Article Abstract:

The transition of the Belgian Voorzorgskas der Geneesheren/Caisse de prevoyance des Medecins (VKG/CPM) from a pay-as-you-go pension program to a funded system enabled the company to take a more dynamic approach to portfolio management. The VKG/CPM improved its performance following a reform of its portfolio management and a favorable outcome of its professional fund management. The portfolio management was reformed by organizing an asset allocation committee and appointing several specialist managers and a global custodian.

Author: Cerfontaine, Jan, Vreys, Jan
Portfolio Management, Pension Fund Administration, Pension funds, Financial management

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When does fund size affect performance?

Article Abstract:

The size of total assets under management has an impact on the return on investments. In addition to this, a rapid influx of funds can also affect the performance of an investment and compel an investment manager to shift capitalization as well as style. A major consideration of these trends is the impact they will have on the ability of the manager to buy, sell and trade with a different amount of money. Investors should take note of these possibilities when making decisions.

Author: Herring, Jenny L.
Commercial Banks, Investment Banking and Securities Dealing, Portfolio & Funds Management, Practice, Investment advisers

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Solving the performance puzzle

Article Abstract:

Evaluating the performance of investments should include the three elements of the performance puzzle which are policy, policy management and asset management. Policy involves the guidelines for the investment program. Policy management involves the implementation of the investment policy through the allocation of assets. Asset management means adding value with security selection and tactical allocations.

Author: Surz, Ronald J.
Investments

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Subjects list: Methods, Evaluation, Portfolio management
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