The 27th SUERF Colloquium in Munich in June 2008: New Trends in Asset Management: Exploring the Implications was already topical in the Summer of 2008. The subsequent dramatic events in the Autumn of 2008 made the presentations in Munich even more relevant to investors and bankers that want to...

Spurred on by the recent financial crises, a growing number of institutional investors are working to bypass traditional financial intermediaries, agents and centers through the development of in-house teams of investment professionals. As such, the institutional investment community, which is...

The complex dynamics of world financial markets yield inherent uncertainty and the prospect of periods of enhanced volatility. The turbulent global economic and regulatory environment of the past few years has certainly illustrated this reality. As investment managers interpret clients’...

Let there be no illusions: in the legal regulation of state asset management - on account of the complexity of the state's institutional system, the differentiation of the assets managed and the necessarily contradictory system of objectives of the state's exercising of owner's rights - there...

This book has three main objectives: (i) discusses the main implications for the functioning of mandatory defined contribution pensions of consumers' inability to make rational choices; (ii) describes how jurisdictions have tried to address these problems through ad hoc policy interventions; and...

Consistent financial performance is the key element to success in asset management. We use a dynamic wealth constraint to represent the consistent performance requirement, which takes into account the entire historical records as a benchmark so that the wealth always stays at or above the...

Mutual funds industry has been sought by French politicians as mediation between the popular savings and company?s investments through the financial markets. Questioning the link between finance and industry requires analyzing the effectiveness of this mediation. This article intends firstly to...

Asset management often involves a conflict of interests between investors and fund managers. A main goal of financial regulators is to identify and mitigate this conflict. This article focuses on measures that may foster protection of investors' interests. In an experiment capturing the...

This article adopts the asymmetric DCC with one exogenous variable (ADCCX) model developed by Vargas (2008), by updating the concept of ‘volatility surprise’ to capture cross-market relationships. Current methods for measuring spillovers do not focus on volatility interactions, and neglect...

The objective of the article consists in studying the status of principal elements of liquidity management systems in domestic banks. Basic liquidity management strategies of banks were analyzed, the necessity of implementing an integrated liquidity management system was stressed. Key properties...