In one way or another, business activity must be financed. Without finance to support
their fixed assets and working capital requirements, businesses could not exist. There are
three primary sources of finance for companies:
● a cash surplus from operating activities
● new equity funding
● borrowing from bank and non-bank sources. Non-bank sources are mainly investors in
the capital markets who subscribe for bonds and other securities issued by companies.
Mutual funds are one of the several options
that investors explore for investing surplus
funds. In a deposit-dominated market like
India it is important for mutual funds to
be able to offer differentiated risk-rewards
and gain shelf-space. With many seemingly
similar offerings from multiple mutual
funds unable to clearly communicate their
superiority, a less informed investor may find
it difficult to make a choice. This uncertainty
leads to a weakened ‘pull’ for the product.
This report analyzes the costs, benefits, and risks of some of the options the Navy might consider. This report should be of interest to the Office of the Secretary of Defense and to Navy policymakers involved in the present and future direction of naval aviation. This research was carried out in the Acquisition and Technology Policy Center of the National Defense Research Institute, RAND’s federally funded research and development center supporting the Secretary of Defense, the Joint Staff, the unified commands, the defense agencies, and the Navy....
Module 8 - Options for funding ICT for development. This module discusses these alternative funding options for ICT for development (ICTD) and e-government projects. Public-private partnerships (PPPs) are highlighted as a particularly useful funding option for ICT-based services and e-government initiatives in developing countries.
The purpose of this booklet is to provide an introduction to
some of the basic equity option strategies available to option
and/or stock investors. Exchange-traded options have
many benefits including flexibility, leverage, limited risk for
buyers employing these strategies, and contract performance
guaranteed by The Options Clearing Corporation (OCC).
Options allow you to participate in price movements without
committing the large amount of funds needed to buy
Many investors are perfectly satisfied with the more traditional investing
opportunities: They build solid portfolios containing individual
stocks and bonds, mutual and exchange-traded funds, and so forth, and are
generally content to let investment counselors manage their accounts. Other
investors, however, prefer to take a more active role: Perhaps they want to
manage their accounts themselves or broaden their investment horizons
(and increase their potential returns) by delving into more volatile markets...
Designed for the widest audience, without sacrificing a high level of understanding, graduating from limited math to arithmetic and algebra and some calculus
Covers forwards and futures, options, binomial trees, Black-Scholes, volatility and dynamic strategies with detailed definitions and examples
Auditors would be regulated under a system which mirrors that of the audit of companies with a role for the Financial Reporting Council and the professional audit bodies. We envisage that the National Audit Office will set the code of audit practice and we have put forward options for the scope of audit in the new framework. The consultation document also sets out how transparency will be increased in the new framework and our proposals for auditing smaller bodies with a turnover below £6.5m in a proportionate way.
In any discussion of a project budget, top management usually begins by asking, “What should this project
cost, and is that reasonable?” If the project is optional, the decision to proceed should be based on an estimate
of expenses versus future profits. For example, Will the effort reduce operating expenses? Is the project really
The only way to answer these questions is to identify the true cost of the project. Your estimate must include
labor expense—the cost of paying members of your project team.
Since many social businesses are also SMEs, measures that facilitate access to finance for
SMEs could also help social businesses. In this context, of notable importance are the support
and regulatory frameworks for venture capital, in particular the steps to be taken to develop a
EU passport for Venture Capital funds. The extent to which work on establishing such a
passport might aid social businesses is central in considering the effectiveness and efficiency
of the options identified in this impact assessment.
“Structured products” are one of the fastest growing areas in the financial
services industry, and may already be over half of the notional size of the
hedge fund industry (AUM plus leverage). These products, constructed by
investment banks, are extremely complex using synthetic option replication
techniques, and offering a variety of guarantees in returns. They are sold to
retail, private banking and institutional clients. Hedge funds help reduce
volatility risk for investment banks in supplying these products. ...
This demand feature bridges the gap between borrowers and lenders. It
allows governments to issue the long-term bonds they prefer, while making
that debt eligible for purchase by money funds that must invest in short-term
Sound like the SIVs we discussed earlier? VRDNs are like SIVs in many
respects, but with some key differences. First, there is generally less concern
about the credit quality of the bonds in a VRDN than the securities held
in a SIV—governments are usually pretty good payers.
The investment in stock market is increasing at a faster rate in the recent years because of FIIs, FDIs, Stock
market awareness etc. investment in Debentures, Bank Deposits, are not so attractive because of less amount of
interest, as in real terms the value of money decreases over a period of time. The other option is to invest money
in stock market, but a common man is not much aware of market and he is not much component enough to
understand the functions of stock market and also it is an expansive proposal. The question to be answered is:...
The term „structured product‟ is the name given to an
investment product that provides a return that is pre-
determined with reference to the performance of one or
more underlying markets. The performance of a structured
product is therefore based only on the performance of this
underlying product and not on the discretion of the product
provider. Most often the product relies on the use of
derivatives to generate the return, and contains downside
protection or guarantees of some form via options.
Barriers to low-carbon investment may be financial, structural or technical. Financial barriers include
fossil fuel subsidies, and the unpriced carbon externality. These discourage local businesses, project
developers, vendors, technology providers from offering low carbon solutions to the market, and hamper
institutional and market financing mechanisms enabling such businesses to grow.
The verification of care needs is the responsibility of the long-term care insurance funds. The
funds entrust the task of identifying, verifying and assessing the severity of care needs to the
Medical Review Board of the Statutory Health Insurance Funds, which is primarily made up
of doctors and nurses. The assessment takes place in the home of the insured person provided
they give their consent. If such an assessment is not performed the insurance funds are
entitled to refuse to pay benefits.
The European Physical Society (EPS) is an independent body funded by contributions from
national physical societies, other bodies and individual members. It represents over 100,000
physicists and can call on expertise in all areas where physics is involved.
The Position Paper consists of two parts, the EPS position, summarising the
recommendations, and a scientific/technical part. The scientific/technical part is essential to
the Position Paper as it contains all facts and arguments that form the basis of the EPS
(i) The objectiv...
Sales charges are the commissions that you
may have to pay when you buy or sell a fund. If
you pay this charge when you buy the fund, it’s
called an initial sales charge or front-end load.
If you pay it when you sell, it’s called a deferred
sales charge or back-end load. Some funds are
sold on a “no-load” basis, which means you
pay no sales charge when you buy or sell.
Comparing sales charge options
With initial sales charges, the cost can vary
from firm to firm and may be negotiable. Shop
around, and remember that every dollar you
pay in commission is a...
Transparency, predictability and longevity of government programmes are necessary if investors are
to initiate a project in green technologies. For instance, the degree of high uncertainty in American
Production Tax Credits (PTC) was a contributing factor to investor exit from the wind power sector, in
particular - illustrating the importance for governments of ensuring that programmes are not subject to
excessive policy uncertainty (see Figure 2). Retroactive policy changes regarding solar power projects in
Spain have also been concerning investors.
Other important elements of good design include independence of the agencies making funding
decisions, use of peer review and competitive procedures with clear criteria for project selection. Support
for commercialisation should also be temporary and accompanied by clear sunset clauses and transparent
As noted before, support policies also require a good understanding of the state of
development of green technologies; support for commercialisation should not be provided before
technologies reach a sufficiently mature state. ...