Progress Microfinance has been implemented through two actions, both of which are managed by
EIF. They are: 1) a guarantee instrument to providers of micro-credit (funded entirely by the
European Commission); and 2) a structured investment vehicle set up under Luxembourg law, the
European Progress Microfinance Fund, funded by the European Commission and the EIB.
Thus, the study of mutual funds in emerging markets is overdue for those who need a
fuller understanding of their investment conditions. In addition, this would allow an out-of-
sample test to challenge existing asset pricing models and lead to the development of new
This study seeks to shed light on mutual fund investment in emerging markets and
specifically focuses on three issues: performance, determinants of performance and the role
of liquidity on performance and performance measure.
Traditionally, large distribution networks
were developed by the Life Insurance
Corporation of India and the Unit Trust of
India for their own products. The LIC model
involved engaging deeply with distributors
and agents, by educating and equipping
them to sell. Agents were well-compensated
and penetration was deep. In return, the
agents worked exclusively with LIC and did
not sell other products.
Unlike this, the mutual fund distribution
network evolved in an open architecture
Tham khảo sách 'sustainable development – education, business and management – architecture and building construction – agriculture and food security', kinh doanh - tiếp thị, quản trị kinh doanh phục vụ nhu cầu học tập, nghiên cứu và làm việc hiệu quả
The World Bank (WB) and the International Monetary Fund (IMF), as the leading lending agencies, have been under mounting pressure to deal with a wide range of debt sustainability challenges. The challenges have refused to subside. Instead they continue to stimulate urgent need for a new debt sustainability framework and debt management orientation that can allow for the borrowing economies to break the vicious circle of unending distress.
A summary of the different styles of hedge funds and
the proportion of the market they occupy is shown in Table
4, based on Hedge Fund Industry Research data. An
indication of the broad activity involved in the style is
shown on the right hand side. Most of these strategies are
long-short in nature: all of the equity hedge (e.g. long a
stock and long a put to hedge its fall); most of event driven
(e.g. buy the target M&A company and sell the buyer); all of
relative value arbitrage (e.g. buy the London listing and sell
The Portfolio Improvement Program (PIP) was launched by the World
Bank about a year ago to improve the performance of its project portfo-
lio. Within that review, the performance of social funds was evaluated
for such things as efficiency, targeting, and sustainability.
As the largest multilateral development finance agency, the World Bank
lends about US$20 billion annually for development all over the world.
Its portfolio of 1,500 projects under implementation accounts for close
to US$120 billion of commitment on the part of the World Bank.
Project objectives should therefore contribute to
national and sector policies wherever a public sector
activity is being supported.
When non-state actors are implementing projects, a
distinction needs to be made drawn between activities
fully outside the realm of the public sector and
activities undertaken on behalf of government. In the
latter case, non-state actors typically deliver services
of a public nature as if these services had been
‘contracted out’ by government.
The primary form of funding for both the Flemish and French-language public
broadcasters is government appropriations that are established between the broadcaster
and ruling government via a “management contract.” These contracts (created every five
years) set forth funding levels for the length of the contract and tie that funding to a
variety of performance criteria (D’Haenens et al. 2009). Objectives are established in four
broad areas — services (e.g.
Thus, even though this investor disregards any
possibility of active management skills, she holds actively managed funds to capitalize on
predictability in benchmark returns and fund risk loadings in a way that cannot be
accomplished via long-only index fund positions. Next, consider an investor who allows
for predictability in active management skills. At the end of 2002, this investor optimally
selects actively managed precious metals funds.
Next, we analyze the stockholdings implied by the strategies examined here. The
evidence shows that predictability-based strategies hold mutual funds with similar size,
book-to-market, and momentum characteristics as their no-predictability counterparts.
Predictability-based strategies also hold stocks with characteristics similar to those of the
holdings of the three previously studied strategies noted earlier.
The first Section of this book starts with a collection of articles about sustainable
education or education for sustainable development. The papers present research and
practices of teaching and education as essential tools for achieving sustainable
development. Alternative perspective to funding public schools and Universities are
also presented in this section. The goal is to foster the increased quality of teaching and
learning and help countries make progress toward development.
The Thirteenth Replenishment Agreement of the World Bank’s
International Development Association (IDA), covering the period
2003-5 inclusive, introduced grant financing for the first time in IDA’s
40-year history. The Agreement recognized that unsustainable levels of
debt should be a criterion for eligibility of grants for low-income
borrowers, along with criteria such as the exigencies of natural disasters,
conflict and the HIV/AIDS pandemic. In IDA 13, each borrower was
subject to a cap of grant funding equivalent to 40 percent of its total
The activities in this document aim to outline the various stages in
the teaching of writing that a teacher needs to consider. No-one
would advocate giving a learner an empty sheet of paper and a title
and telling them to write a story or a report, except in an
examination for which they had been fully prepared. The fear of that
empty page is very real to many learners who have no idea how to
begin the process and feel they are devoid of ideas and expertise;
they can become demoralised, lose confidence and be put off writing
for life unless they are explicitly taught strategies to cope....
PSI President and CEO Karl Hofmann recalls:
“In just over 10 years, the YouthAIDS platform grew into a brand that drove attention and
resources for HIV prevention and education. PSI, at that time, was a highly successful
implementing organization but traveled below the radar with little brand awareness
except among a small set of development insiders. By creatively marketing the HIV
implementation arm of our organization in a more attractive and media friendly way,
Roberts was able to give YouthAIDS real substance and to raise diversified funds.
This book arises out of a project funded by Scottish Homes, as part of EC
Competitive Renewal Initiatives in Sustainable Europe Network Group. Our
first acknowledgement is to the support of Scottish Homes for enabling this
research to be conducted. Equal thanks are due of course to all the persons
who offered us their time for interviews in the course of the research project
in the five countries studied. Also, we would like to thank Alison Smith for
her help in preparing the book. Finally, we would like to thank Dymphna
Evans of Edward Elgar for her support....
Carbon sectors is forecast to exceed growth in the more established Environmental sector, where
many technologies (for example in Water and Waste Treatment) are already mature.
The Renewable Energy and Emerging Low Carbon sectors currently show a much flatter growth than
previously forecast for the period 2012 to 2015. It is anticipated that as economic uncertainty is
reduced and investment funds start to flow, these growth forecasts will rise once again.
The starting point for the allocation of grants is the system in place for
allocating IDA funds based on the PBA system that was described in the
previous section. This ensures the link with policy performance that has
increasingly been the basis on which IDA funds have been allocated in
successive replenishments. Thereafter, the country groupings based on
debt distress are used to allocate grant funds within the IDA country
allocations that have been determined.
Finance is all about the systems, institutions and
instruments involved in the transfer of funds between
individuals, businesses and governments. This includes
vital, short-run decisions such as cash management and
credit policy, which affect the survival of an organisation,
as well as long-term decisions such as investment in plant
and equipment, fund-raising, and mergers and takeovers,
which determine the wealth of stakeholders.
Your studies in finance can lead to career opportunities
and also provide useful personal money management
They say what doesn’t break you makes you stronger. For
hedge funds, 2012 was a backbreaking year to put it mildly.
Heightened market volatility, stressed global macroeconomic
conditions, and underperformance relative to traditional
investing vehicles were just a few of the factors that
challenged hedge funds in 2012. Add the extra weight of an
increasing regulatory burden, and many fund leaders might
have been forgiven for packing it in.