Mutual fund

assumptions we may thus write the optimal value function as V(t,x), with no s-dependence, and after some easy calculations the term Ac,wV turns out to be where the matrix 2: is given by 2: = aa'. We now summarize our assumptions. THE MUTUAL FUND THEOREMS 293 Assumption 19.7.1 We assume that • the vector 0: is constant and deterministic, • the matrix (J is constant and deterministic, • the matrix a has rank n, and in particular the matrix E "'1 aa' is positive definite and invertible

mettre en œuvre les nouveaux pouvoirs précités ; b/ avec l’indemnisation des actionnaires en cas de transfert de la banque défaillante au secteur privé, à un gestionnaire de transition, ou au secteur public – un fonds d’indemnisation (bank resolution fund) pour les actionnaires sera mis en place, et les compensations seront déterminées par un évaluateur indépendant, processus utilisé pour les actionnaires de Northern Rock. L’Allemagne envisage également la mise en place d’un régime spécial de résolution

(SUA) acord de împărţire a autorităţii (între două agenţii guvernamentale) naked agreement înţelegere clară (care atrage automat răspundere penală) pooling agreement acord de exploatare în comun, acord legal de concertare settlement agreement acord mutual, acord de consimţire (vezi şi settlement ) single branding agreement înţelegere de comercializare sub o marcă unică tacit agreement înţelegere tacită vertical agreement înţelegere verticală to achieve an agreement a realiza o înţelegere to break

Issue No. 2. May. Available at http://www.african-exchanges. org/download/newsletter/ASEA_Newsletter_May_2013(2).pdf (accessed 23 March 2014). Ahokpossi C (2013). Determinants of bank interest margins in sub-Saharan Africa. International Monetary Fund working paper WP/13/34. Ajide KB and Lawanson O (2012). Modelling the long run determinants of domestic private investment in Nigeria. Asian Social Science. 8(13):139–152. Amendolagine V, Boly A, Coniglio N and Prota F (2013). FDI and local linkages

2007—another investment arena that reflected the growing strength of emerging markets. Although down slightly from 2006, average hedge fund gains in 2007 reached 12.6%.47 On average, hedge fund returns outperformed most traditional stock indexes in 2007, boosted by 20.3% average gains in emerging markets.48 In recent years, an increasing proportion of hedge fund assets (estimated at US$1.7 trillion49) has come from institutional investors, who account for the majority of the nearly US$195 billion

movement of goods, the principle of freedom of establishment and the principle of freedom to provide services and to the principles deriving therefrom, such as the principle of equal treatment, the principle of non-discrimination, the principle of mutual recognition, the principle of proportionality and the principle of transparency. However, for public contracts above a certain value, it is advisable to draw up provisions of Community coordination of national procedures for the award of such contracts

évolution de l’actionnariat est favorisée par l’apparition de nouveaux acteurs collectant une épargne de plus en plus importante : les investisseurs institutionnels ou "zinzins". Ce nouvel actionnariat va prendre de nombreux visages : fonds de pension, mutual funds (fonds communs de placement), hedge funds, assureurs ou encore les fonds souverains, dont les activités font l’actualité récente. Les conséquences sont autant sociales qu’économiques. La presse relate en effet très régulièrement les décisions

themselves. But if this is true, then the responsibility of leaders to their constituents is not necessarily to follow the national interest wherever it leads, without regard to the moral considerations that would constrain groups of individuals in their mutual interactions. The appeal to the responsibilities of leaders does not show that it is always right for leaders to pursue the national interest. Faced with the charge that the national interest as an ultimate standard is indifferent to larger moral

HUISMAN R. et KOEDIJK K. [2001], « Optimal Portfolio Selection in a Value-at-Risk Framework », Journal of Banking and Finance, 25, p. 1789-1804. CHAN K., COVRIG V. et NG L. [2005], « What Determines the Domestic Bias and Foreign Bias? Evidence from Mutual Fund Equity Allocations Worldwide », The Journal of Finance, 60 (3), p. 1495-1534. CHOI J., LAIBSON D., MADRIAN B., et METRICK A. [2004a], « For Better or For Worse: Default Effects and 401(k) Savings Behavior », dans David WISE, (ed.), Perspectives

the Central Emergency Response Fund (CERF) The first part is a cash-flow mechanism. US $50 million are available in total, loaned to provide quick access to funds instead of waiting for donor pledges to be transferred. This amount must be reimbursed within 6 months. The second part is a stand-by fund, up to $450 million, granted for rapid response and under-funded emergencies. CERF is intended to complement, not substitute, existing funding mechanisms. It cannot fund preparedness, mitigation or prevention