Stewart, Fiona
[VerfasserIn]
;
Despalins, Romain
[Sonstige Person, Familie und Körperschaft];
Remizova, Inna
[Sonstige Person, Familie und Körperschaft];
Stewart, Fiona Elizabeth
[Sonstige Person, Familie und Körperschaft]
Pension Funds, Capital Markets, and the Power of Diversification
Erschienen in:World Bank Policy Research Working Paper ; No. 8136
Umfang:
1 Online-Ressource (27 p)
Sprache:
Englisch
Entstehung:
Anmerkungen:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments July 5, 2017 erstellt
Beschreibung:
The potential for pension funds to contribute to capital markets and thereby economic growth has been argued on a theoretical basis and demonstrated empirically. However, reforms fostering the development of funded pension systems have not had the economic impact hoped for in some countries. Pension fund portfolios in some cases have remained highly exposed to shorter-term assets, such as bank deposits and shorter-term government bonds. This, in turn, has led to relatively low investment returns, thereby potentially affecting income adequacy in retirement. This paper looks at the potential regulatory hurdles to long-term investment by pension funds, while also proposing international diversification and the creation of domestic investment opportunities to help portfolio diversification and ultimately improve the delivery of secure, adequate pensions