Showing papers on "Investment management published in 1985"
Patent•
27 Aug 1985
TL;DR: In this paper, the authors present an inflation-adjusted financing program where funds are deposited in participating financial institutions in return for certificates of deposit yielding a fixed rate of interest, plus principal growth at a yearly rate equal to that year's rate of growth in the Consumer Price Index-All Urban Consumers, All Items.
Abstract: Data processing for novel form of relationship management links, supervises, and balances depositors, marketing agents, financial intermediaries, mortgage brokers, and borrowers in an inflation-adjusted financing program Funds are deposited in participating financial institutions in return for certificates of deposit yielding a fixed rate of interest, plus principal growth at a yearly rate equal to that year's rate of growth in the Consumer Price Index-All Urban Consumers, All Items Funds on deposit are loaned to borrower, either directly or through brokers, at a rate calculated by adding three components: a fixed debt service rate, a fixed constant interest rate, and an inflation factor interest rate which reflects the effects of inflation on the outstanding loan balance Organizing company sychronizes entire program by contacting depositors through marketing agent, designating institutions to receive depositors' funds, contacting borrowers directly or through brokers, and by supplying data processing capabilitites to financial intermediaries for purposes of impletation of the program and for analysis of the effects of the program on the intermediaries' capital structures
227 citations
14 citations
4 citations
01 Apr 1985
TL;DR: In this paper, the authors examined various points of detail in the use and interpretation of performance measurement results, recommending the use of internal rates of return as the means of measurement and making further specific points concerning the division of return into the causal factors of income and capital changes.
Abstract: Property investment performance measurement is a vital defence for the property investment manager. This paper examines various points of detail in the use and interpretation of performance measurement results, recommending the use of internal rates of return as the means of measurement and making further specific points concerning the division of return into the causal factors of income and capital changes. Exhibits are provided in illustration of the proposed approach.
3 citations
TL;DR: In this article, a study of a pooled profit-sharing plan sponsored by a Fortune 50 company from September 1978 to June 1983 is presented, where the authors apply the security market line analysis suggested by Fama.
Abstract: This paper is based on an actual study of a pooled profit-sharing plan sponsored by a Fortune 50 company from September 1978 to June 1983. The purpose of performance measurement is to identify skill at portfolio management and provide evidence indicating whether performance coincides with the investment skills claimed by the portfolio manager. The approach here is to apply the security market line analysis suggested by Fama. Characteristic lines were determined for the plan portfolio allowing the calculation for alpha, the Jensen differential performance index, beta, and R2. Tests are made to determine if the investment manager was able to achieve superior performance by shifting portfolio market sensitivity in anticipation of major market moves (market-timing effect) and/or selecting undervalued securities (security-selection effect).
01 Jan 1985
TL;DR: In this article, the authors describe investment management as the structuring and re-structuring of a portfolio of assets in order to optimise the financial returns, which is broadly defined as:
Abstract: Investment management may broadly be described as the structuring and re-structuring of a portfolio of assets in order to optimise the financial returns.