Pension Finance [Hardcover]

This book provides a secure grounding in the theory and practice of finance insofar as it deals with pension matters. By using it, the reader will understand the various types of investment assets;
* the allocation of personal wealth to different asset classes
* corporate pension finance
* the financial aspects of defined contribution pension plans during both the accumulation and distribution phases
* the financial aspects of defined benefit pension plans
* the role of pension funds and pension fund management
* pension fund performance measurement and attribution
* risk management in pension fundsPreface.

1 Investment Assets.Held by Pension Funds.

1.1 Money-market securities.

1.2 Bonds and loans.

1.3 Shares.

1.4 Collective investment vehicles.

1.5 Real assets.

1.6 Derivatives.

1.7 Alternative investments.

1.8 Socially responsible investment.

1.9 Global custody.

1.10 Different asset characteristics and uses.

1.11 Conclusion.

Questions.

References.

Appendix A: Standard deviation, value-at-risk and correlation.

2 Personal Finance: The Allocation of Personal Wealth to Different Asset Classes.

2.1 Introduction.

2.2 Modelling the allocation of personal wealth to different asset classes.

2.3 Conclusion.

Questions.

References.

3 Corporate Pension Finance.

3.1 The valuation of pension liabilities: Differences between the actuarial and economic approaches.

3.2 Pensions and the lC