Abstract. We analyse contracts which pay out a guaranteed minimum rate of return and a fraction of a positive excess rate, which is specified on the basis of a benchmark portfolio. These contracts are closely related to unit–linked life–insurance/savings plan products and can be considered as alternatives to a direct investment in the underlying benchmark portfolio. The option embedded into the...

Literature on the financialisation of infrastructure gives limited attention to public banks. Since banks are key state institutions enable and shape financialisation, more research is needed show how they mediate processes amidst evolving social, political economic pressures. To address gap in existing literature, this article develops a case study UK Infrastructure Bank examine bank enables w...