Xem 1-20 trên 178 kết quả Funds analysis
  • After Studying Chapter 7, you should be able to: Explain the difference between the flow of funds (sources and uses of funds) statement and the statement of cash flows – and understand the benefits of using each; define "funds" and identify sources and uses of funds; create a sources and uses of funds statement, make adjustments, and analyze the final results;...

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  • Tham khảo sách 'financial statement analysis a practitioner's guide third edition - martin fridson fernado alvarez', ngoại ngữ, anh văn thương mại phục vụ nhu cầu học tập, nghiên cứu và làm việc hiệu quả

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  • Barbara Rockefeller is a writer specializing in international economics and finance, with a focus on foreign exchange. She also trades in the foreign exchange market. She is the publisher of a daily newsletter on the foreign exchange market, “The Strategic Currency Briefing.” Her newsletter combines technical and fundamental observations. Additionally, she publishes separate daily “Trader’s Advice” reports for spot and futures foreign exchange traders.

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  • Robert Reilly is a managing director of Willamette Management Associates and Willamette Capital. He performs valuation consulting, economic analysis, and finan- cial advisory services including event analyses, merger and acquisition valuations, divestiture and spin-off valuations, solvency analyses, fairness opinions, ESOP fea- sibility and formation analyses, purchase price allocations, business and stock valuations, restructuring and workout analyses, litigation support analyses, tangible/ intangible asset transfer pricing studies, and lost profit/economic damages analyses....

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  • We interviewed experts to explain the growth of Luxembourg and Ireland. Tiny Luxembourg grew to be a European mutual fund hub, fueled by favorable bank secrecy and tax laws as well as its central location. The growth of Ireland (Dublin in particular) on the other hand, was driven by a tax advantage given to management companies and a highly educated labor force. In particular, until recently, fund management companies paid a tax of only 10% on their income (relative to a 32% corporate income tax in Ireland) and they were allowed extra deductions for rental...

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  • Risk management is an evolving discipline. Several organizations have sought to provide assistance and thought leadership through the development of risk management frameworks and guidance. Much, if not most, of this guidance is focused on traditional operating companies and does not contemplate the externally managed structure of investment companies. As a result, while the guidance these organizations have provided is sound, it typically does not focus on the unique issues faced by funds and their boards of directors.

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  • With respect to equity mutual funds, the study further notes that funds are experiencing diseconomies of scale in their expense ratios when their size exceeds $600 million to $800 million. Interestingly, the foregoing study does not even address the problem of "market impact costs" which are clearly an even greater expense to mutual funds than are the more visible costs used in the calculation of their...

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  • While the SEBI issued a further circular in 2010 stating that a consolidation or merger should not be seen as a change in the fundamental attributes of the surviving schemes if some conditions are met, the absence of an income-tax neutrality and the STT levy are dampeners which should be removed. It may be noted that tax laws do provide for such neutrality to shareholders in case of merger of companies.

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  • Stocks are not the most important sources of external financing for businesses (figure 1) == Why? Issuing marketable debt and equity securities is not the primary way in which businesses finance their operations (figure 1) == Why? Indirect finance is many times more important than direct finance ((figure 1) == Why? Financial intermediaries are the most important source of external funds (figure 1) == Why?

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  • In addition, the Volcker Rule does not apply to Banking Entity’s investing in or sponsoring hedge funds or private equity funds that occur solely outside the United States as long as (i) no ownership interest in such funds is offered to U.S. residents, and (ii) the Banking Entity is not directly or indirectly controlled by another Banking Entity that is organized under the laws of the United States or a U.S. state). Under the Act, the Federal banking agencies, the SEC, the CFTC and the Board of Governors of the Federal Reserve System (the “Fed”) will coordinate to...

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  • As reported in the financial statements of each AMC, fund expenses can be divided into management fees and administrative fees. Expense ratio is the ratio between total fund expenses to fund’s assets. Administrative or operating expense excluded management fees of AMCs managing large number of funds are considered to be constant. Thus, when management fee is excluded, fund expense ratio is lower. Fund expenses excluded management fees indicate fund operation efficiency. Management fees measures security selection skills of fund manager.

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  • For instance, based on the pure management fee model described above, a fund with a 1.5% management fee and fixed expenses of $600,000 would break even at $40 mil- lion in AUM. By decreasing fixed expenses by $60,000, or 10%, the fund’s breakeven AUM drops by $4 million to $36 million. Stated differently, $15,000 in fixed expenses equates to $1 million in AUM.

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  • Mutual funds have been a significant source of investment in both government and corporate securities. Decades it has been the monopoly of the state with UTI being the key player, with invested funds exceeding Rs.300 bn. The state-owned insurance companies also hold a portfolio of stocks. Presently, numerous mutual funds exist, including private and foreign companies and mainly state- owned Banks. Foreign participation in mutual funds and asset management companies (AUM) is permitted on a case-by-case basis.

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  • To derive private cash flow, we begin by calculating overall project cash flow.The private cash flow is the cash flow on the investor’s own funds or ‘equity’.

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  • Energy efficiency is a key area for competitiveness. The Commission will reinforce its cooperation with Member States on the implementation of the energy efficiency directive, the energy labelling and ecodesign legislation. Implementing the strategy for Key Enabling Technologies will also be a key lever of competitiveness. The Commission will deepen its work to help SMEs facing the challenge of financing and implement the Action Plan for entrepreneurship.

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  • We focus on four national characteristics to explain the size of the mutual fund industry across countries: law and regulation; demand characteristics; supply side factors; and the nature of the securities markets. Countries with a stronger judicial system, more stringent regulatory approval and disclosure requirements for funds tend to have a larger fund industry. This suggests that stronger regulation may be beneficial to the fund industry.

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  • Business Angels increasingly co-invest with other angels and with early stage funds to fill the early- stage equity gap. Business Angel networks (BANs) facilitate the matching of investment demand and supply; they aim to organize and link angels, as well as to attract prospective investment targets (investees) to angels and match both parties for business contacts. Such networks come in a number of forms; some are more like investment clubs, while others are set up on a regional or national basis. Some networks concentrate on a certain industry or sector.

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  • Flows into bond funds worldwide increased significantly to €169 billion in the first quarter of 2012, the largest quarterly bond inflow ever recorded, after registering €49 billion of net inflows in the fourth quarter. Bond funds reported €86 billion of net inflows in the United States, up from €51 billion in the previous quarter. In Europe net inflows totaled €49 billion during the first quarter, marking a sharp turnaround compared to the net outflows of €11 billion recorded in the previous quarter. ...

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  • In addition, the Act significantly narrows the exemptions from registration contained in (i) Section 203(b)(1) of the Advisers Act (which generally exempts from SEC registration intrastate advisers) to expressly exclude investment managers that advise Private Funds, and (ii) Section 203(b)(6) of the Advisers Act (which generally exempts from SEC registration advisers registered with the Commodities Futures Trading Commission (“CFTC”) as commodity trading advisers) to limit that exception to advisers who do not “predominately” provide securities-related advice.

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  • The $200 million AUM fund described earlier could therefore base its annual revenue projections around its $3 million management fee (i.e., 1.5% of AUM) and set its expense caps accordingly. Dur- ing a strong-performing year the fund will run with a surplus which, like other businesses, it can use for capital expenditures, incentive bonuses, cash reserves and so forth. A start-up fund can apply the same principal based on realistic AUM assumptions. (For most funds, “re- alistic” start-up capital consists of investments by partners, friends and family.

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