Optimal investment policies for defined benefit pension funds
نویسندگان
چکیده
منابع مشابه
Optimal Investment Policies for Defined Benefit Pension Funds
This paper analyzes optimal investment policies for pension funds of a defined benefit (DB) type. The nature of a DB fund induces a natural modeling of preferences being of the mean-downside risk type. With compensation for inflation as an explicit goal of a pension fund, a natural reference point for the risk measure is the future (indexed) value of the liabilities. Results are presented for d...
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ژورنال
عنوان ژورنال: Journal of Pension Economics and Finance
سال: 2007
ISSN: 1474-7472,1475-3022
DOI: 10.1017/s1474747205002398