The reading in this study session present a framework for ethical conduct in the investment profession by focusing on the CFA Code of Ethics and Standard of Professional Conduct as well as the CFA Institute Soft Dollar Standards and the CFA Institute Research Objectivity Standards.
CFA Level 1 Schweser Notes 2014 - Book 4 Corporate finance, portfolio management, and equity investments. The following material is a review of the Corporate finance, portfolio management, and equity investments principles designed to address the learning outcome statements set forth by CFA institute.
CFA Level 1 Schweser Notes 2014 - Book 5 Fixed Income, Derivatives, and Alternative Investments. The following material is a review of the Fixed Income, Derivatives, and Alternative Investments principles designed to address the learning outcome statements set forth by CFA institute.
The investment game has changed over the past two decades. Historically,
the challenge facing investors has been to identify good investments.
While that’s obviously still important, investors increasingly
recognize that that alone isn’t enough. Five good mutual funds can still
make a bad portfolio, or at least one that’s inappropriate for a given investor’s
goals. It’s becoming clear that investors must move beyond good
versus bad investments and toward appropriate or inappropriate usage of
investments, taking into account their time horizons and risk tolerance.
Foreign direct investment (FDI) flows amounted to 1,697 billion USD in 2008, while
global FDI stocks reached a level of more than 16,205 billion USD.1 These figures
underline the fact that FDI has gained an importance that is comparable to trade in
providing foreign markets with goods and services.2 In addition, FDI constitutes the
largest source of external finance for developing countries.3 Nevertheless, the global
financial crisis had a significant impact on FDI at the end of 2008, reducing flows by
approximately 14.2% compared to the all-time high of 1,978 billion USD in 2007.
In the CRSP data set, different classes of the same fund appear as different funds. We
identify the classes that belong to the same fund and obtain fund-level information by averaging
(weighting the classes by total net assets) the class-level data provided by CRSP. We also
exclude index funds from our sample. Since the index identifier in CRSP is only available as of
2003, we use funds' names to determine whether they are index funds or not. For SRI funds, we
double-check the classification manually to make sure that we do not unnecessarily delete SRI
funds from the sample. We...
Tham khảo sách 'performance - a triannual topical digest for investment management professionals, issue 7, january 2012', tài chính - ngân hàng, quỹ đầu tư phục vụ nhu cầu học tập, nghiên cứu và làm việc hiệu quả
This report does not propose to enter the discussions on financing and investment levels that will be
needed to support green growth such as is done by the IEA (2010a) for the energy sector, but rather will
look at where required flows may come from and how financial instruments such as green bonds might be
used to shift flows to support green growth. However, for illustrative purposes it is useful to examine the
ranges of estimates that are quoted.
Many foreign companies use a combination of exporting, licensing and direct investment in India.
India permits 100% foreign equity in most industries. Units setting up in special economic zones
(SEZs), operating in electronic hardware or software technology parks or operating as 100%
export-oriented units also may be fully foreign-owned. Nevertheless, the government has set
sector-specific caps on foreign equity in certain industries, such as basic and cellular
telecommunications services, banking, civil aviation and retail trading.
There is one reported proposed entry – of
Schroder Investment Management through
the acquisition of a significant minority stake
in an existing AMCor trust company and also
one reported proposed exit, viz. Fidelity
This growth serves to demonstrate that,
at a fundamental level, there are many
significant global and local players that
consider the Indian mutual fund industry
to be attractive. It is necessary to
understand the mix of investors, distributors,
types and number of schemes as factors that
contribute to a sustainable and profitable
The investment game has changed over the past two decades. Historically, the challenge facing investors has been to identify good investments. While that’s obviously still important, investors increasingly recognize that that alone isn’t enough. Five good mutual funds can still make a bad portfolio, or at least one that’s inappropriate for a given investor’s goals. It’s becoming clear that investors must move beyond good versus bad investments and toward appropriate or inappropriate usage of investments, taking into account their time horizons and risk tolerance.
Sovereign Wealth Funds (SWFs) are investment funds owned and managed by
national governments. Originally created in the 1950s by oil and resource-producing
countries to help stabilize their economies against fluctuating commodity prices, and
to provide a source of wealth for future generations, they have proliferated
considerably in recent years. Although their lack of transparency makes estimating
SWF investment levels difficult, it is estimated that they currently manage between
$1.9 and $2.9 trillion.
The disclosure table is the heart of the prototype. It addresses two of the questions: “How do
we ensure that consumers can understand the information about financial sharing policies
and their personal information?” and “How do we ensure that consumers can compare sharing
practices across financial institutions?” At the simplest level, the disclosure table shows what
the individual financial institution is sharing, especially through the yes/no columns.
This study seeks to analyse FDI inflows into Laos and to investigate their impact on the economic development of Laos. The desired outcome of this research aims at confirming the linkage between FDI inflows in Laos and the economic development indicators including GNI per capita, financial capital, level of technology, human capital, energy and natural resources, transportation and communication.
Chapter 5 - Learning about return and risk from the historical record. Casual observation and formal research both suggest that investment risk is as important to investors as expected return. while we have theories about the relationship between risk and expected return that would prevail in rational capital markets, there is no theory about the levels of risk we should find in the marketplace. we can at best estimate the level of risk likely to confront investors by analyzing historical experience.
Chapter 5 "History of interest rates and risk premiums" presents the following content: Factors influencing rates, level of interest rates, real vs. nominal rates, rates of return: single period, characteristics of probability distributions, mean scenario or subjective returns, variance or dispersion of returns,...
In Chapter 7 we discussed the capital allocation decision. That decision governs how an investor chooses between risk-free assets and “the” optimal portfolio of risky assets. This chapter explains how to construct that optimal risky portfolio. We begin with a discussion of how diversification can reduce the variability of portfolio returns. After establishing this basic point, we examine efficient diversification strategies at the asset allocation and security selection levels.