Sample records for previously funded emsp
-
HARVESTING EMSP RESEARCH RESULTS FOR WASTE CLEANUP
International Nuclear Information System (INIS)
Guillen, Donna Post; Nielson, R. Bruce; Phillips, Ann Marie; Lebow, Scott
2003-01-01
The extent of environmental contamination created by the nuclear weapons legacy combined with expensive, ineffective waste cleanup strategies at many U.S. Department of Energy (DOE) sites prompted Congress to pass the FY96 Energy and Water Development Appropriations Act, which directed the DOE to: ''provide sufficient attention and resources to longer-term basic science research, which needs to be done to ultimately reduce cleanup costs'', ''develop a program that takes advantage of laboratory and university expertise, and'' ''seek new and innovative cleanup methods to replace current conventional approaches which are often costly and ineffective.'' In response, the DOE initiated the Environmental Management Science Program (EMSP)-a targeted, long-term research program intended to produce solutions to DOE's most pressing environmental problems. EMSP funds basic research to lower cleanup cost and reduce risk to workers, the public, and the environment; direct the nation's scientific infrastructure towards cleanup of contaminated waste sites; and bridge the gap between fundamental research and technology development activities. EMSP research projects are competitively awarded based on the project's scientific, merit coupled with relevance to addressing DOE site needs. This paper describes selected EMSP research projects with long, mid, and short-term deployment potential and discusses the impacts, focus, and results of the research. Results of EMSP research are intended to accelerate cleanup schedules, reduce cost or risk for current baselines, provide alternatives for contingency planning, or provide solutions to problems where no solutions exist
-
HARVESTING EMSP RESEARCH RESULTS FOR WASTE CLEANUP
Energy Technology Data Exchange (ETDEWEB)
Guillen, Donna Post; Nielson, R. Bruce; Phillips, Ann Marie; Lebow, Scott
2003-02-27
The extent of environmental contamination created by the nuclear weapons legacy combined with expensive, ineffective waste cleanup strategies at many U.S. Department of Energy (DOE) sites prompted Congress to pass the FY96 Energy and Water Development Appropriations Act, which directed the DOE to: ''provide sufficient attention and resources to longer-term basic science research, which needs to be done to ultimately reduce cleanup costs'', ''develop a program that takes advantage of laboratory and university expertise, and'' ''seek new and innovative cleanup methods to replace current conventional approaches which are often costly and ineffective.'' In response, the DOE initiated the Environmental Management Science Program (EMSP)-a targeted, long-term research program intended to produce solutions to DOE's most pressing environmental problems. EMSP funds basic research to lower cleanup cost and reduce risk to workers, the public, and the environment; direct the nation's scientific infrastructure towards cleanup of contaminated waste sites; and bridge the gap between fundamental research and technology development activities. EMSP research projects are competitively awarded based on the project's scientific, merit coupled with relevance to addressing DOE site needs. This paper describes selected EMSP research projects with long, mid, and short-term deployment potential and discusses the impacts, focus, and results of the research. Results of EMSP research are intended to accelerate cleanup schedules, reduce cost or risk for current baselines, provide alternatives for contingency planning, or provide solutions to problems where no solutions exist.
-
Enhancing Effectiveness of EMSP Projects Through Strong Connections to Site Problems
International Nuclear Information System (INIS)
Guillen, D. P.; Josephson, G. B.
2002-01-01
The Environmental Management Science Program (EMSP) funds basic science research that will lead to reduced remediation cost, schedule, technical uncertainties, and risk for DOE's environmental clean up. The Tanks Focus Area (TFA) has partnered with EMSP to accomplish those same objectives for DOE's largest and most expensive remediation effort--to retrieve and immobilize the highly radioactive wastes that are our nation's chief nuclear defense program legacy. TFA has been tasked to facilitate success of the EMSP investment. The key for EMSP projects to contribute to this remediation effort is communication. First, scientists need to understand much more about how their scientific results would be used than they could ever learn from the original EMSP solicitation or by reading the referenced DOE needs statements. Second, the scientists' results must be communicated to the site problem holders in a usable form and in a timely manner such that important information gaps can still be filled by the EMSP project. Research results can be used in a variety of ways besides deployment of new hardware or a new process. When results are USED the site problem holders become ''users''. The important aspect that research results are to be used is captured in the TFA lexicon for their clients, the DOE sites--''users''. This paper will show, through several examples, significant contributions EMSP scientists have made to solving DOE's high-level waste challenges through direct and enhanced communication with TFA and site users
-
ENHANCING EFFECTIVENESS OF EMSP PROJECTS THROUGH STRONG CONNECTIONS TO SITE PROBLEMS
International Nuclear Information System (INIS)
Josephson, Gary B.; Hale, Donna
2003-01-01
The Environmental Management Science Program (EMSP) funds basic science research that will lead to reduced remediation cost, schedule, technical uncertainties, and risk for DOE's environmental clean up. The Tanks Focus Area (TFA) has partnered with EMSP to accomplish those same objectives for DOE's largest and most expensive remediation effort - to retrieve and immobilize the highly radioactive wastes that are our nation's chief nuclear defense program legacy. TFA has been tasked to facilitate success of the EMSP investment. The key for EMSP projects to contribute to this remediation effort is communication. First, the scientist needs to understand much more about how his scientific results would be used than he could ever learn from the original EMSP solicitation or by reading the referenced DOE needs statements. Second, the scientist's results must be communicated to the site problem holders in a usable form and in a timely manner such that important information gaps can still be filled by the EMSP project. Research results can be used in a variety of ways besides deployment of new hardware or a new process. When results are USED the site problem holders become 'users'. The important aspect that research results are to be used is captured in the TFA lexicon for their clients, the DOE sites--'USERS'. The best method observed, so far, to accomplish the indispensable communication necessary for success is through direct contact between EMSP researchers and TFA/site problem holders, person to person. The observation that direct contact is the best medium for exchange of complex information may seem inanely obvious. However, it is not the normal procedure in the more academic world of the fundamental scientists, where publishing of results in a peer-reviewed journal completes the transmittal of scientific results. Direct communication between EMSP researchers and site users doesn't occur naturally. TFA actively bridges this gap between science and technology
-
SRTC Contribution to EMSP 81898 Annual Report 2003
International Nuclear Information System (INIS)
Lam, Poh-Sang
2004-01-01
The following describes the SRTC contributions to EMSP 81898 with emphasis on the specific applications to the SRS high level radioactive waste tanks. In particular, the crack growth criteria, constraint effects, and the weld residual stress effects are covered. The write-up consists of two parts: (1) Crack Growth Simulation, and (2) Stress Corrosion Cracking in Weld Residual Stress
-
Antibacterial Secondary Metabolites from the Cave Sponge Xestospongia em>sp.
Directory of Open Access Journals (Sweden)
Sridevi Ankisetty
2012-05-01
Full Text Available Chemical investigation of the cave sponge Xestospongia em>sp. resulted in the isolation of three new polyacetylenic long chain compounds along with two known metabolites. The structures of the new metabolites were established by NMR and MS analyses. The antibacterial activity of the new metabolites was also evaluated.
-
International Nuclear Information System (INIS)
Berge, P.A.; Bonner, B.P.; Roberts, J.J.; Wildenschild, D.; Aracne-Ruddle, C.M.; Berryman, J.G.; Bertete-Aguirre, H.; Boro, C.O.; Carlberg, E.D.
2000-01-01
Our goal is to improve geophysical imaging of the vadose zone. We will achieve this goal by providing new methods to improve interpretation of field data. The purpose of this EMSP project is to develop relationships between laboratory measured geophysical properties and porosity, saturation, and fluid distribution, for partially saturated soils. Algorithms for relationships between soil composition, saturation, and geophysical measurements will provide new methods to interpret geophysical field data collected in the vadose zone at sites such as Hanford, WA. This report summarizes work after 10 months of a 3-year project. We have modified a laboratory ultrasonics apparatus developed in a previous EMSP project (No.55411) so that we can make velocity measurements for partially-saturated samples rather than fully-saturated or dry samples. We are testing the measurement apparatus using standard laboratory sand samples such as Ottawa sand samples. Preliminary results indicate that we can measure both compressional and shear velocities in these sand samples. We have received Hanford soil samples (sands from split-spoon cores from an uncontaminated site) and expect to make ultrasonic measurements on them also. We have used the LLNL x-ray facility to perform x-ray computed tomography (XCT) imaging for several partially-saturated Ottawa sand and Lincoln sand samples, and have also used the DOE Advance Photon Source at Argonne National Laboratory to make higher-resolution images of some sand samples. Preliminary results indicate that we can image amount and distribution of fluids in homogeneous sand samples. Continuing work from the previous EMSP project, we are testing a new data analysis method for seismic data that is expected to improve interpretation of seismic data from the vadose zone by showing how partial saturation affects seismic parameters. Our results suggest that the planned approach for this research is appropriate, that microstructure is an important factor
-
International Nuclear Information System (INIS)
Phillips, Ann Marie
2003-01-01
This paper describes fourteen basic science projects aimed at solving decontamination and decommissioning (D and D) problems within the U.S. Department of Energy (DOE). Funded by the Environmental Science Management Program (EMSP), these research projects address D and D problems where basic science is needed to expand knowledge and develop solutions to help DOE meet its cleanup milestones. EMSP uses directed solicitations targeted at identified Environmental Management (EM) needs to ensure that research results are directly applicable to DOE's EM problems. The program then helps transition the projects from basic to applied research by identifying end-users and coordinating proof-of-principle field tests. EMSP recently funded fourteen D and D research projects through the directed solicitation process. These research projects will be discussed, including description, current status, and potential impact. Through targeted research and proof-of-principle tests, it is hoped that EMSP's fourteen D and D basic research projects will directly impact and provide solutions to DOE's D and D problems
-
Energy Technology Data Exchange (ETDEWEB)
Phillips, Ann Marie
2003-02-27
This paper describes fourteen basic science projects aimed at solving decontamination and decommissioning (D&D) problems within the U.S. Department of Energy (DOE). Funded by the Environmental Science Management Program (EMSP), these research projects address D&D problems where basic science is needed to expand knowledge and develop solutions to help DOE meet its cleanup milestones. EMSP uses directed solicitations targeted at identified Environmental Management (EM) needs to ensure that research results are directly applicable to DOE's EM problems. The program then helps transition the projects from basic to applied research by identifying end-users and coordinating proof-of-principle field tests. EMSP recently funded fourteen D&D research projects through the directed solicitation process. These research projects will be discussed, including description, current status, and potential impact. Through targeted research and proof-of-principle tests, it is hoped that EMSP's fourteen D&D basic research projects will directly impact and provide solutions to DOE's D&D problems.
-
International Nuclear Information System (INIS)
1998-04-01
This report is submitted in response to a Congressional request and is intended to communicate the nature, content, goals, and accomplishments of the Environmental Management Science Program (EMSP) to interested and affected parties in the Department and its contractors, at Federal agencies, in the scientific community, and in the general public. The EMSP was started in response to a request to mount an effort in longer term basic science research to seek new and innovative cleanup methods to replace current conventional approaches which are often costly and ineffective. Section 1, ''Background of the Program,'' provides information on the evolution of the EMSP and how it is managed, and summarizes recent accomplishments. Section 2, ''Research Award Selection Process,'' provides an overview of the ongoing needs identification process, solicitation development, and application review for scientific merit and programmatic relevance. Section 3, ''Linkages to Environmental Cleanup Problems,'' provides an overview of the major interrelationships (linkages) among EMSP basic research awards, Environmental Management problem areas, and high cost projects. Section 4, ''Capitalizing on Science Investments,'' discusses the steps the EMSP plans to use to facilitate the application of research results in Environmental Management strategies through effective communication and collaboration. Appendix A contains four program notices published by the EMSP inviting applications for grants
-
Energy Technology Data Exchange (ETDEWEB)
NONE
1998-04-01
This report is submitted in response to a Congressional request and is intended to communicate the nature, content, goals, and accomplishments of the Environmental Management Science Program (EMSP) to interested and affected parties in the Department and its contractors, at Federal agencies, in the scientific community, and in the general public. The EMSP was started in response to a request to mount an effort in longer term basic science research to seek new and innovative cleanup methods to replace current conventional approaches which are often costly and ineffective. Section 1, ``Background of the Program,`` provides information on the evolution of the EMSP and how it is managed, and summarizes recent accomplishments. Section 2, ``Research Award Selection Process,`` provides an overview of the ongoing needs identification process, solicitation development, and application review for scientific merit and programmatic relevance. Section 3, ``Linkages to Environmental Cleanup Problems,`` provides an overview of the major interrelationships (linkages) among EMSP basic research awards, Environmental Management problem areas, and high cost projects. Section 4, ``Capitalizing on Science Investments,`` discusses the steps the EMSP plans to use to facilitate the application of research results in Environmental Management strategies through effective communication and collaboration. Appendix A contains four program notices published by the EMSP inviting applications for grants.
-
International Nuclear Information System (INIS)
Dove, Patricia M.
2000-01-01
During the three years of this project, Professor Dove's laboratory made tremendous progress in understanding controls on amorphous silica dissolution kinetics in aqueous solutions. Our findings have already received considerable attention. In hydrothermal and low temperature studies, the work focused on determining quantitative and mechanistic controls on the most abundant silica polymorphs in Earth environments--quartz and amorphous silica. Our studies achieved goals set forth in the original proposal to establish a new quantitative understanding of amorphous silica dissolution. This support has resulted in 10 journal, 12 abstracts and 2 thesis publications. The PI and students were also recognized with 6 awards during this period. The 1998 EMSP conference in Chicago was an important meeting for our project. The symposium, enabled P.I. Dove to establish valuable contacts with ''users'' having specific needs for the findings of our EMSP project related to the urgency of problems in the Tanks Focus Area (TFA). Since that time, our working relations developed as Dove interacted with TFA scientists and engineers on the problems of waste glass properties. These interactions refined our experimental objectives to better meet their needs. Dove presented the results of EMSP research findings to a TFA subgroup at a Product Acceptance Workshop held in Salt Lake City during December 1998. The travel costs to attend this unanticipated opportunity were paid from EMSP project funds. In January 2000, Dove also attended a similar meeting in Atlanta with PNNL, SRL and BNF scientists/engineers to discuss new issues and make another level of decisions on the Product Acceptance goals. Our EMSP-funded research interfaced very well with the ongoing studies of Dr. Pete McGrail and colleagues in the Applied Geochemistry Group at PNNL. The value of our work to ''users'' was further demonstrated when Dove's EMSP-funded Postdoc, Dr. Jonathan Icenhower was hired by the same PNNL group. With
-
2011-06-15
Army AAA Report No. A-2009-0226- FFM , “Examination of Federal Financial Management Improvement Act Compliance - Test Validation General Fund Enterprise...Business System Release 1.2,” September 30, 2009 AAA Report No. A-2009-0231- FFM , “General Fund Enterprise Business System - Federal Financial...Management Improvement Act Compliance Examination of Release 1.3 Functionality,” September 30, 2009 AAA Report No. A-2009-0232- FFM , “General Fund
-
DEFF Research Database (Denmark)
Nielsen, Anne Møller; Isbye, Dan Lou; Lippert, Freddy
2012-01-01
for resuscitation after 3.5 months with those obtained in untrained laypersons who completed the same course with instructor facilitation. Methods BLS skills of 55 untrained laypersons were assessed using the Laerdal ResusciAnne and PC Skill Reporting System in a 3 min test and a total score (12......-48 points) was calculated. The participants received a DVD training kit without instructions. The test was repeated after 3.5 months. Data were compared with data from a previous published study where participants completed the same course in groups with instructor facilitation. Results...
-
Energy Technology Data Exchange (ETDEWEB)
Bredt, Paul R.; Ainsworth, Calvin C.; Brockman, Fred J.; Camaioni, Donald M.; Egorov, Oleg B.; Felmy, Andrew R.; Gorby, Yuri A.; Grate, Jay W.; Greenwood, Margaret S.; Hay, Benjamin P.; Hess, Nancy J.; Hubler, Timothy L.; Icenhower, Jonathan P.; Mattigod, Shas V.; McGrail, B. Peter; Meyer, Philip D.; Murray, Christopher J.; Panetta, Paul D.; Pfund, David M.; Rai, Dhanpat; Su, Yali; Sundaram, S. K.; Weber, William J.; Zachara, John M.
2002-06-11
Pacific Northwest National Laboratory has been awarded a total of 80 Environmental Management Science Program (EMSP) research grants since the inception of the program in 1996. The Laboratory has collaborated on an additional 14 EMSP awards with funding received through other institution. This report describes how each of the projects awarded in 1999, 2000, and 2001 addresses significant U.S. Department of Energy (DOE) cleanup issues, including those at the Hanford Site. The technical progress made to date in each of these research projects is addressed in the individual project reports included in this document. Projects are under way in three main areas: Tank Waste Remediation, Decontamination and Decommissioning, and Soil and Groundwater Cleanup.
-
ADVERTISING ON FACEBOOK: THE EFFECT ON FUND FLOWS OF FUND FAMILY
Kang, Jiaqi
2017-01-01
Using data for the top 100 US mutual fund families for the period between Jan 2009 to Jun 2016, this paper studies the relationship between mutual fund families’ advertising on Facebook and their fund flow. In particular, I examine whether advertising via social media helps mutual funds to attract new fund flow. I also include the number of followers to proxy for visibility and past returns to control for performance. In line with previous research, I find that large part of the variation in ...
-
Financial Literacy and Mutual Fund Investments : Who Buys Actively Managed Funds?
Müller, Sebastian; Weber, Martin
2008-01-01
Previous research indicates that lacking financial sophistication among private investors might be important in explaining the strong growth in active management over the past. Based on questionnaire data with more than 3,000 mutual fund customers, we therefore construct an objective financial literacy score and analyze the relationship between financial literacy and mutual fund investment behavior. While sophisticated investors are indeed more aware of passive, low cost fund alternatives lik...
-
Funding ATLAS 2012 key indicators for publicly funded research in Germany
Deutsche Forschungsgemeinschaft (DFG)
2013-01-01
The Funding ATLAS is a reporting system (previously referred to as the Funding Ranking) employed by the German Research Foundation (DFG) to provide information in the form of indicators of key developments in publicly funded research in Germany every three years. This English version of the Funding ATLAS 2012 presents selected findings from the more comprehensive German edition. At the core of the report are indicators that provide information on which subject areas have received funding at higher education and other research institutions in the period 2008-2010. This report also includes, as a supplement not found in the German edition, the decisions on the Excellence Initiative, which were taken shortly after the German edition of the Funding ATLAS 2012 was published. The report also addresses the subject of internationality by presenting selected indicators that show how attractive Germany's research institutions are for visiting scientists. In summary, the DFG Funding ATLAS furnishes reliable indicators o...
-
The Keystone Center final technical report
International Nuclear Information System (INIS)
1998-01-01
The Keystone Center began its work with the Environmental Management Science Program (EMSP) in May, 1996, when The Center agreed to design, organize, and facilitate stakeholder meetings at two DOE sites: Savannah River and Hanford. These meetings were held June 24--25, 1996 for the purpose of discussing the role of EMSP in constructing a site-specific basic research agenda that maps site cleanup needs to basic science areas. Summaries of the discussions from these meetings as well as lists of the stakeholders who were invited are included as Attachment 1. In August/September 1996, the Keystone Center was asked to convene two additional site meetings using funds that remained in their contract. These meetings were held in October 1996 at Oak Ridge and Idaho National Engineering Laboratory. Summaries from these meetings and participant lists are included as Attachment 2
-
Pension funds investments in hedge funds-a necessary regulation
Directory of Open Access Journals (Sweden)
Daniela Gaftoniuc
2010-12-01
Full Text Available When it comes to investment strategies, generally, pension funds have proved to be conservative investors with a long term approach on investments and constant preoccupation for asset diversification as well as tendencies to secure their portfolios through investments in established financial products. Nevertheless, within this constant preoccupation for portfolio diversification as well as gain of notable profits, private pension funds have invested to a certain degree also in less cautious products respectively have conducted less stable investments. The financial turbulences that hit the US towards the end of 2007 and spread globally to become one of the most severe financial crisis witnessed, haven’t left pension funds immune to this phenomenon. Although, as previously stated, the special feature of pension funds is based on long term investments, which confers a certain degree of natural protection, there can not be the talk of absolute immunity either.
-
Comparing Working-Capital Funding and Mission Funding for Naval Shipyards
National Research Council Canada - National Science Library
Frisk, Daniel; Trunkey, R. D
2007-01-01
...) to direct appropriations. Previously, under the NWCF's revolving-fund approach, the shipyards set prices for maintenance and repair services that were intended to cover their full operating costs, and the Navy's Atlantic...
-
DEFF Research Database (Denmark)
Bridge, Jamie; Hunter, Benjamin M; Albers, Eliot
2016-01-01
investment of US$ 620. million. Two-thirds of this budgeted amount was for interventions in the "comprehensive package" defined by the United Nations. 91% of the identified amount was for Eastern Europe and Asia. Conclusion: This study represents an updated, comprehensive assessment of Global Fund...... and inequitable access to these services and face widespread stigma and discrimination. In 2013, the Global Fund launched a new funding model-signalling the end of the previous rounds-based model that had operated since its founding in 2002. This study updates previous analyses to assess Global Fund investments...... investments in harm reduction from its founding (2002) until the start of the new funding model (2014). It also highlights the overall shortfall of harm reduction funding, with the estimated global need being US$ 2.3. billion for harm reduction in 2015 alone. Using this baseline, the Global Fund must...
-
2002-01-01
The Governing Board of the Pension Fund held its 104th and 105th meetings on 8th November and 4th December 2001, respectively. The agenda of the 8th November meeting was devoted to a single item, namely the outcome of the Finance Committee's meeting the previous day. The Governing Board noted with satisfaction that both its proposed amendments to the Rules and Regulations of the Fund - allowing, in particular, the award of a deferred retirement pension after five years of service - and its proposal for the adjustment of pensions on 1.1.2002 had been approved for recommendation to the Council in December. At its meeting on 4th December, the Governing Board dealt mainly with the items examined at the latest meeting of the Investment Committee. The Committee's chairman, G. Maurin, stated that the 2001 return on the Fund's overall investments was likely to be between -2% and -3%. He also noted that a new study of the Fund's cash flows (incomings and outgoings) had been performed. He underlined that, while the flo...
-
2006-01-01
Following the approval by the CERN Council, at its Session in March 2006, of the amendments to Administrative Circular No. 14 (Protection of the members of the personnel against the financial consequences of illness, accident and disability) and the resulting amendments to the Rules and Regulations of the Pension Fund, which entered into force on 1st July 2006, the Administration of the Fund has decided to publish a complete new edition of the Rules and Regulations incorporating all amendments up to 1st July 2006. Members of the Fund will be informed once the new edition of the Rules and Regulations is available from Departmental secretariats.In the meantime, the amendments to the text of the Pension Fund Rules and Regulations, which entered into force on 1st July 2006, are presented below (Previous text/Amended text): Chapter II - Section 1: Contributions and benefits Article II 1.04 - Reference Salary - Part-time Work OLD TEXT: The reference salary of a member with a contract for part-time work shall b...
-
2006-01-01
Following the approval by the CERN Council, at its Session in March 2006, of the amendments to Administrative Circular No. 14 (Protection of the members of the personnel against the financial consequences of illness, accident and disability) and the resulting amendments to the Rules and Regulations of the Pension Fund, which entered into force on 1st July 2006, the Administration of the Fund has decided to publish a complete new edition of the Rules and Regulations incorporating all amendments up to 1st July 2006. Members of the Fund will be informed once the new edition of the Rules and Regulations is available from Departmental secretariats. In the meantime, the amendments to the text of the Pension Fund Rules and Regulations, which entered into force on 1st July 2006, are presented below (Previous text/Amended text) : Chapter II - Section 1: Contributions and benefits Article II 1.04 - Reference Salary - Part-time Work OLD TEXT: the reference salary of a member with a contract for part-time work shall be e...
-
International Nuclear Information System (INIS)
1998-04-01
The Department of Energy's Environmental Management Science Program (EMSP) serves as a catalyst for the application of scientific discoveries to the development and deployment of technologies that will lead to reduction of the costs and risks associated with cleaning up the nation's nuclear complex. Appendix B provides details about each of the 202 research awards funded by the EMSP. This information may prove useful to researchers who are attempting to address the Department's environmental management challenges in their work, program managers who are planning, integrating, and prioritizing Environmental Management projects, and stakeholders and regulators who are interested in the Department's environmental challenges. The research award information is organized by the state and institution in which the lead principal investigator is located. In many cases, the lead principal investigator is one of several investigators at a number of different institutions. In these cases, the lead investigator (major collaborator) at each of the additional institutions is listed. Each research award abstract is followed by a list of high cost projects that can potentially be impacted by the research results. High cost projects are Environmental Management projects that have total costs greater than $50 million from the year 2007 and beyond, based on the March 1998 Accelerating Cleanup: Paths to Closure Draft data, and have costs or quantities of material associated with an Environmental Management problem area. High cost projects which must remain active in the year 2007 and beyond to manage high risk are also identified. Descriptions of these potentially related high cost Environmental Management projects can be found in Appendix C. Additional projects in the same problem area as a research award can be located using the Index of High Cost Environmental Management Projects by Problem Area, at the end of Appendices B and C
-
Energy Technology Data Exchange (ETDEWEB)
NONE
1998-04-01
The Department of Energy`s Environmental Management Science Program (EMSP) serves as a catalyst for the application of scientific discoveries to the development and deployment of technologies that will lead to reduction of the costs and risks associated with cleaning up the nation`s nuclear complex. Appendix B provides details about each of the 202 research awards funded by the EMSP. This information may prove useful to researchers who are attempting to address the Department`s environmental management challenges in their work, program managers who are planning, integrating, and prioritizing Environmental Management projects, and stakeholders and regulators who are interested in the Department`s environmental challenges. The research award information is organized by the state and institution in which the lead principal investigator is located. In many cases, the lead principal investigator is one of several investigators at a number of different institutions. In these cases, the lead investigator (major collaborator) at each of the additional institutions is listed. Each research award abstract is followed by a list of high cost projects that can potentially be impacted by the research results. High cost projects are Environmental Management projects that have total costs greater than $50 million from the year 2007 and beyond, based on the March 1998 Accelerating Cleanup: Paths to Closure Draft data, and have costs or quantities of material associated with an Environmental Management problem area. High cost projects which must remain active in the year 2007 and beyond to manage high risk are also identified. Descriptions of these potentially related high cost Environmental Management projects can be found in Appendix C. Additional projects in the same problem area as a research award can be located using the Index of High Cost Environmental Management Projects by Problem Area, at the end of Appendices B and C.
-
2013-02-27
... whether this document applies to them. Potentially affected entities may include: [emsp14]Crop production (NAICS code 111). [emsp14]Animal production (NAICS code 112). [emsp14]Food manufacturing (NAICS code 311... at 1.0 ppm; fruit, small, vine climbing, subgroup 13-07F, except fuzzy kiwifruit at 2.0 ppm; onion...
-
ARGICULTURAL LAND PROTECTION FUND AND FOREST FUND AS ECOLOGICAL FUNDS
Bartosz Bartniczak
2009-01-01
Funds for environmental protection and water management, Agricultural Land Protection Fund and Forest Fund make up the Polish system of special fund in environment protection. The main aim of this article is to analyze the activity of two latest funds. The article tries to answer the question whether that funds could be considered as ecological funds. The author described incomes and outlays of that funds and showed which reform should be done in Polish special funds system.
-
Pension fund excellence creating value for stakeholders
Ambachtsheer, Keith P.
1998-01-01
Internationally recognized experts in the field introduce their "business excellence paradigm". In this book, two leading pension fund experts lay out a comprehensive plan for effective fund management. With the help of domestic and global case studies they critically assess current approaches to pension fund management and isolate what works and what doesn't using their unique critically acclaimed "run-it-like-a-business" model. Keith P. Ambachtsheer (Toronto, Canada) is principle at KPA Advisory Service, Inc., a pension fund management consulting firm. He runs The Ambachtsheer Letter and cofounded Cost Effective Measurement, Inc., which monitors the performance of 300 of the world's largest asset funds. D. Don Ezra (Toronto, Canada) is Director of European Consulting at Frank Russell Co. His previous books include The Struggle for Pension Fund Wealth.
-
2002-01-01
Amendment No 18 to the Rules and Regulations of the Pension Fund has just been published and can be obtained from Divisional secretariats or, in the case of pensioners, directly from the Administration of the Fund (tel. 767-91 94/27 38), bldg 5, 1-030. This Amendment, which entered into force on 1.1.2002, concerns the articles which have been amended, in accordance with the Council's decision, to allow the award of a deferred retirement pension after five years of service (instead of ten previously) and the fixed sums and allowances adjusted at the same date (Annex B). It also contains a revised version of the table of contents of the Rules, as well as pages where the contents have not changed but where the page layout has had to be adjusted for technical reasons.
-
2010-07-01
... those goals and objectives, the Secretary may— (1) Decide not to fund the applicant; or (2) Fund the..., or is making substantial progress toward fulfilling, the goals and objectives of the previous grant... did not fulfill the goals and objectives of a previous grant or is not making substantial progress...
-
2010-07-01
... objectives, the Secretary may— (1) Decide not to fund the applicant; or (2) Fund the applicant but impose... progress toward fulfilling, the goals and objectives of the previous grant, including, but not limited to... the goals and objectives of a previous grant or is not making substantial progress towards fulfilling...
-
Fang, Jieyan
2012-01-01
In this dissertation I investigate the mutual fund industry, especially the three most important participants within this industry: mutual fund investors, mutual fund companies and mutual fund managers. The main research questions of this dissertation are: 1. Does rapid trading exist among German equity mutual fund investors? What are the determinants of rapid trading? Does rapid trading have a negative impact on mutual fund performance? 2. Do mutual fund investors, as a whole, have...
-
Performance Measurement without Benchmarks: An Examination of Mutual Fund Returns.
Grinblatt, Mark; Titman, Sheridan
1993-01-01
This article introduces a new measure of portfolio performance and applies it to study the performance of a large sample of mutual funds. In contrast to previous studies of mutual fund performance, the measure used in this study employs portfolio holdings and does not require the use of a benchmark portfolio. It finds that the portfolio choices of mutual fund managers, particularly those that managed aggressive growth funds, earned significantly positive risk-adjusted returns in the 1976-85 p...
-
Zelman, Brittany; Melgar, Melissa; Larson, Erika; Phillips, Allison; Shretta, Rima
2016-02-25
The Global Fund to Fight AIDS, Tuberculosis, and Malaria (GFATM) has been the largest financial supporter of malaria since 2002. In 2011, the GFATM transitioned to a new funding model (NFM), which prioritizes grants to high burden, lower income countries. This shift raises concerns that some low endemic countries, dependent on GFATM financing to achieve their malaria elimination goals, would receive less funding under the NFM. This study aims to understand the projected increase or decrease in national and regional funding from the GFATM's NFM to the 34 malaria-eliminating countries. Average annual disbursements under the old funding model were compared to average annual national allocations for all eligible 34 malaria-eliminating countries for the period of 2014-2017. Regional grant funding to countries that are due to receive additional support was then included in the comparison and analysed. Estimated funding ranges for the countries under the NFM were calculated using the proposed national allocation plus the possible adjustments and additional funding. Finally, the minimum and maximum funding estimates were compared to average annual disbursements under the old funding model. A cumulative 31 % decrease in national financing from the GFATM is expected for the countries included in this analysis. Regional grants augment funding for almost half of the eliminating countries, and increase the cumulative percent change in GTFAM funding to 32 %, though proposed activities may not be funded directly through national malaria programmes. However, if countries receive the maximum possible funding, 46 % of the countries included in this analysis would receive less than they received under the previous funding model. Many malaria-eliminating countries have projected national declines in funding from the GFATM under the NFM. While regional grants enhance funding for eliminating countries, they may not be able to fill country-level funding gaps for local commodities and
-
GOVERNING BOARD OF THE PENSION FUND
2002-01-01
The Governing Board met on 9 April and 4 June. The first of these two meetings was essentially devoted to the examination and approval of the draft 2001 Annual Report of the Pension Fund and the allocation of the year's results. In the latter connection, the Governing Board decided, on the basis of the recommendations by the two firms of actuaries involved in the last actuarial review, that the amounts previously referred to in the accounts as "reserves" should be considered as part of the Fund's capital. The description of part of the Fund's assets as reserves as opposed to capital hitherto had been a matter of form rather than anything more fundamental. The Governing Board therefore formally approved this change in the Fund's accounting practices for the sake of consistency between the Accounts of the Fund and the approach adopted by the actuaries in the actuarial review. Among the other items examined during the meeting, the Governing Board approved a new strategic allocation for investments, which essenti...
-
DEVELOPMENT OF KOSOVO PENSION SAVING TRUST FUND
Directory of Open Access Journals (Sweden)
Ymer Havolli
2016-11-01
Full Text Available Pension system in Kosovo has experienced various developments in the last three decades. These changes have been driven by both, political and economic developments. The political developments were most important, especially that the previous system failed due to the lack of access to the fund in the post-war Kosovo. The newly established system in post-war Kosovo continues its operations with principles of modern pension fund, savings-based. KPST was established by Law in December 2001 as a not-for-profit institution. As such, the sole objective of KPST is to serve only the best interests of its contributors. KPST is funded in a similar way as are all defined contribution pension funds i.e. by charging fees on assets under management (pension assets. KPST is funded in a similar way as are all defined contribution pension funds i.e. by charging fees on assets under management (pension assets. Throughout this discussion paper, the implications of the crisis, management, asset management issues and most importantly, investment strategy are discussed and some potential solutions to these problems are proposed in order to increase the flexibility of the fund to improve performance in times of crisis.
-
1997/98 Orphan Well Fund annual report
International Nuclear Information System (INIS)
1999-04-01
Alberta's Orphan Well Fund (previously referred as the Abandonment Fund) is funded by the oil and gas industry with provincial government support and approval. It was created to enforce and improve regulations regarding orphan wells. 1997/98 marked the year in which Orphan Well Fund activities included pipeline abandonments, facility decommissioning, and well site reclamation. The first part of this report includes the annual report of the Orphan Fund, while the second part includes the report on the Energy and Utilities Board's (EUB's) Liability Management activities which are an important part of enforcing and improving provincial regulations in the prevention of orphan wells. The fund allows liability management to be done with industry's dollars rather than taxpayer's dollars. Highlights for the year include the successful completion on eleven downhole and surface wells. Expanded activities also included the abandonment of eleven pipelines, and facilities decommissioning work at five locations. The report also includes a financial review, and a summary of the future goals of the program. The EUB enforcement activities and operations, as well as the EUB orphan prevention activities are also reviewed. tabs
-
Performance Evaluation of Equity Mutual Funds in Indonesia
Directory of Open Access Journals (Sweden)
Irene Rini Demi Pangestuti
2017-11-01
Full Text Available Mutual funds considered as an investment alternative for investors. One type of mutual fund that attracts many investors was the equity mutual funds. Equity mutual fund is a type of mutual funds that most part of the investment consists of stocks in the capital market so the risk rate was higher than the other types of mutual funds. For its different characteristic, the measurement for equity funds performance did not be same with other types of mutual funds. As a stock portfolio, equity mutual funds can be measured by portfolio measurement methods such as Sharpe Index, Treynor Ratio, Jensen Index, Adjusted Sharpe Index, Adjusted Jensen Index, and Sortino Ratio. This study was conducted by using all of those performance measurements as most research in Indonesia was conducted by using limited performance measurements (focusing on Sharpe Index, Treynor Ratio, and Jensen Index. This study aims to evaluated the performance of 42 equity mutual funds available in Indonesia by employing Sharpe Index, Treynor Ratio, Jensen Index, Adjusted Sharpe Index (ASI, Adjusted Jensen Index (AJI, and Sortino Ratio because most previous researches in Indonesian setting disregards ASI and AJI. In general, it was concluded that the SAM Indonesian Equity was the best performing equity fund during the study period. It was further found that most equity mutual fund studied have been well diversified.
-
On the Empirical Evidence of Mutual Fund Strategic Risk Taking
Goriaev, A.P.; Nijman, T.E.; Werker, B.J.M.
2001-01-01
We reexamine empirical evidence on strategic risk-taking behavior by mutual fund managers.Several studies suggest that fund performance in the first semester of a year influences risk-taking in the second semester.However, we show that previous empirical studies implicitly assume that idiosyncratic
-
A PERFORMANCE COMPARISON OF HEDGE FUNDS, HEDGED MUTUAL FUNDS AND HEDGE FUND ETFS
Shenyan Gu; Tina Zhang
2015-01-01
Hedged mutual funds and hedge fund ETFs are new entrants to the market thatallow individual investors to invest in funds using hedge fund strategies. In this paper, we study the performance of these two funds relative to the traditional hedge funds to see if the three asset classes are comparable investments. We use four performance measurement models, including CAPM, Fama French three factor model, Carhart four factor model and Fung and Hsieh eight factor model, to test the fund...
-
Bridge, Jamie; Hunter, Benjamin M; Albers, Eliot; Cook, Catherine; Guarinieri, Mauro; Lazarus, Jeffrey V; MacAllister, Jack; McLean, Susie; Wolfe, Daniel
2016-01-01
Harm reduction is an evidence-based, effective response to HIV transmission and other harms faced by people who inject drugs, and is explicitly supported by the Global Fund to Fight AIDS, Tuberculosis and Malaria. In spite of this, people who inject drugs continue to have poor and inequitable access to these services and face widespread stigma and discrimination. In 2013, the Global Fund launched a new funding model-signalling the end of the previous rounds-based model that had operated since its founding in 2002. This study updates previous analyses to assess Global Fund investments in harm reduction interventions for the duration of the rounds-based model, from 2002 to 2014. Global Fund HIV and TB/HIV grant documents from 2002 to 2014 were reviewed to identify grants that contained activities for people who inject drugs. Data were collected from detailed grant budgets, and relevant budget lines were recorded and analysed to determine the resources allocated to different interventions that were specifically targeted at people who inject drugs. 151 grants for 58 countries, plus one regional proposal, contained activities targeting people who inject drugs-for a total investment of US$ 620 million. Two-thirds of this budgeted amount was for interventions in the "comprehensive package" defined by the United Nations. 91% of the identified amount was for Eastern Europe and Asia. This study represents an updated, comprehensive assessment of Global Fund investments in harm reduction from its founding (2002) until the start of the new funding model (2014). It also highlights the overall shortfall of harm reduction funding, with the estimated global need being US$ 2.3 billion for harm reduction in 2015 alone. Using this baseline, the Global Fund must carefully monitor its new funding model and ensure that investments in harm reduction are maintained or scaled-up. There are widespread concerns regarding the withdrawal from middle-income countries where harm reduction remains
-
Ögren, Tobias; Forslund, Petter
2017-01-01
Previous studies have primarily compared the performance of sustainable equity funds and non-sustainable equity funds. A meta-analysis over 85 different studies in the field concludes that there is no statistically significant difference in risk-adjusted returns when comparing sustainable funds and non-sustainable funds. This study is thus an extension on previous studies where the authors have chosen to test the two most common sustainability screening techniques to test if there is a differ...
-
Genomics Research: World Survey of Public Funding
Directory of Open Access Journals (Sweden)
Cook-Deegan Robert M
2008-10-01
Full Text Available Abstract Background Over the past two decades, genomics has evolved as a scientific research discipline. Genomics research was fueled initially by government and nonprofit funding sources, later augmented by private research and development (R&D funding. Citizens and taxpayers of many countries have funded much of the research, and have expectations about access to the resulting information and knowledge. While access to knowledge gained from all publicly funded research is desired, access is especially important for fields that have broad social impact and stimulate public dialogue. Genomics is one such field, where public concerns are raised for reasons such as health care and insurance implications, as well as personal and ancestral identification. Thus, genomics has grown rapidly as a field, and attracts considerable interest. Results One way to study the growth of a field of research is to examine its funding. This study focuses on public funding of genomics research, identifying and collecting data from major government and nonprofit organizations around the world, and updating previous estimates of world genomics research funding, including information about geographical origins. We initially identified 89 publicly funded organizations; we requested information about each organization's funding of genomics research. Of these organizations, 48 responded and 34 reported genomics research expenditures (of those that responded but did not supply information, some did not fund such research, others could not quantify it. The figures reported here include all the largest funders and we estimate that we have accounted for most of the genomics research funding from government and nonprofit sources. Conclusion Aggregate spending on genomics research from 34 funding sources averaged around $2.9 billion in 2003 – 2006. The United States spent more than any other country on genomics research, corresponding to 35% of the overall worldwide public
-
Wound research funding from alternative sources of federal funds in 2012.
Baquerizo Nole, Katherine L; Yim, Elizabeth; Van Driessche, Freya; Davidson, Jeffrey M; Martins-Green, Manuela; Sen, Chandan K; Tomic-Canic, Marjana; Kirsner, Robert S
2014-01-01
Chronic wounds represent a major healthcare burden, costing $25 billion annually, and are associated with high mortality. We previously reported that cutaneous wound healing represented only 0.1% ($29.8 million) of the National Institutes of Health budget. This current study focuses on quantifying the contribution by federal agencies other than the National Institutes of Health for fiscal year 2012. Federal databases including USA Spending, Veterans Affairs, Tracking Accountability in Government Grants Systems, Health Services Research Projects in Progress, and Patient-Centered Outcomes Research Institute, were searched for individual projects addressing wound healing. Twenty-seven projects were identified, totaling funding of $16,588,623 (median: $349,856). Four sponsor institutions accounted for 74% of awarded funds: Department of the Army, National Science Foundation, Department of Veterans Affairs, and Agency for Healthcare Research & Quality. Research projects and cooperative agreements comprised 44% and 37% of awarded grants. New applications and continuing projects represented 52% and 37%. Wound healing represented 0.15% of total medical research funded by the non-National Institutes of Health federal sector. Compared with potential impact on US public health, federal investment in wound research is exiguous. This analysis will draw attention to a disproportionately low investment in wound research and its perils to American public health. © 2014 by the Wound Healing Society.
-
PERSISTENCE IN PERFORMANCE FOR MUTUAL FUNDS IN PERIODS OF CRISIS
Directory of Open Access Journals (Sweden)
Theodoros KARGIDIS
2012-09-01
Full Text Available The study investigates the persistence in performance for a sample of South European funds, domiciled in Portugal, Italy, Greece and Spain. Employing the Sharpe ratio, risk adjusted performance is measured in an attempt to judge the influence of the 2008 crisis and the current debt crisis on funds’ inclination to persist in their previous returns record. Examination period extends from January 2004 to December 2010 incorporating stages of relative stability in the stock and bond markets while also capturing the early stages of the eurozone crisis. We categorize funds as winners and losers in consecutive 6-monthly periods, thus being able to judge persistence in the short run, while our results suggest that the identification of winners and losers could enable us to investigate the possibility to gain investment advantages through this finding. Overall results suggest evidence of persistent results, whether positive or negative, both during the 2008 crisis and the current debt crisis, leading us to deduce that factors leading to performance persistence are not affected by market changes, since medium to long term persistence bypasses any temporary market mischief. This finding could be of use for fund managers aiming at establishing viable investment strategies, at their epicenter being the exploitation of such clues, suggesting persistence in returns. A fund of funds manager employing funds both in equities and fixed income could potentially choose to invest exclusively or more heavily in the winners of previous periods and avoid accordingly poor performers, thus achieving higher returns on average. For this purpose simple investment strategies are employed where we test the outcome of an investment strategy that would invest on fixed income securities by choosing those funds that were winners in the distribution of returns in the previous 6-monthly period, while disinvesting from poor performers and funds switching sides in performance
-
Summary of the Pension Fund's activities in 2007
HR Department
2008-01-01
Introduction The year 2007 was characterized at the institutional level by the implementation of the new governance scheme in the Pension Fund. The previous Governing Board was active until the end of October, laying the groundwork for important decisions that the new Governing Board was thus able to take. The first meeting of the Pension Fund Governing Board was held at ESO Headquarters in Germany on 16 November. Among the new measures, the following may be highlighted: Definition of procedures for reporting to the Finance Committee and the Council; Ongoing elaboration of a code of conduct; The setting-up by the PF Governing Board of four working groups with the following terms of reference: Revision of those Rules and Regulations of the Pension Fund that are directly affected by the changes deriving from the Council’s decisions concerning the governance of the Pension Fund; Definition of funding policy and principles; Search for experts for the Investment Committee; Sea...
-
Innovative funding solution for special projects: Crowd funding
Directory of Open Access Journals (Sweden)
Sentot Imam Wahjono
2015-06-01
Full Text Available The aim of this paper is to examine the influence of crowd funding knowledge, applica-tion, platform, and project initiator toward successful crowd funding. This study conducted by quantitative approach, data have been collected with web-based ques-tionnaires via Kickstarter.com direct message and e-mail to 200 successful crowd funding project initiators as a sample and as much 152 sets questionnaire returned by a complete answer and should be analyzed further. Deployment and data collection take 3 month from October to December 2013. This study found evidence that crowd funding knowledge, crowd funding application, crowd funding platform, and project initiator has positive and significant relationship toward the success of crowd funding. The implication from this research is crowd funding can be a source of capital to finance the projects, not just rely on traditional sources of financing just like banking and capital markets. Crowd funding can be innovative funding solution.
-
2011-11-09
..., but are not limited to: [emsp14]Crop production (NAICS code 111). [emsp14]Animal production (NAICS... be affected. The North American Industrial Classification System (NAICS) codes have been provided to... detection of residues by gas chromatography using nitrogen phosphorous detection (GC/NPD). Contact: Andrew...
-
Journal Vouchers for FY 2000 Department of the Navy General Fund Financial Reporting
National Research Council Canada - National Science Library
2001-01-01
...) General Fund Financial Statements. The previous reports discuss accounting entries supporting Marine Corps reporting and our endorsement of he Naval Audit Service disclaimer of opinion on the FY 2000 Navy General Fund financial statements...
-
Directory of Open Access Journals (Sweden)
Dominika Wojtowicz
2013-12-01
Full Text Available Purpose: The paper discusses issues associated with using funds that support the development of entrepreneurship – the purpose of the paper is to answer questions regarding the purposefulness and effectiveness of financial instruments from EU funds aimed at the development of emerging businesses (startups. Methodology: The paper analyzes previously conducted research studies in the fi eld of the discussed topic, it systematizes and describes the fi nancial instruments from EU funds supporting self- employment and startups in their early stages of activity. It also provides an overview of evaluation reports concerning these instruments. The paper also contains a case study: an analysis of the effectiveness of a selected project supporting the development of entrepreneurship (co-fi nanced from EU funds, in which the method of evaluating the net effect of the support in the short term has been used. Findings: An analysis of previously conducted research studies has shown that properly designed State aid targeted at those starting up their own business is sensible, as it provides them with seed capital and it helps them survive the most diffi cult period of the so-called “startup”. However, there is a lack of comprehensive studies to confirm the positive impact of business support interventions carried out using EU funds. The methodology of evaluating the net effect used by the Author in the conducted study has made it possible to identify the actual size of the – positive – impact of the selected project on the growth of self-employment. Limitations: The study revealed some limitations – the method and time of the study allow to capture the phenomenon on a micro-scale, in the short term. The institutions that are involved in the process of allocating funds should develop a comprehensive methodology that implements the idea of evaluating the net effect, allowing to assess the effectiveness of the support at regional and national level
-
Do AAO-HNSF CORE Grants Predict Future NIH Funding Success?
Eloy, Jean Anderson; Svider, Peter F; Kanumuri, Vivek V; Folbe, Adam J; Setzen, Michael; Baredes, Soly
2014-08-01
To determine (1) whether academic otolaryngologists who have received an American Academy of Otolaryngology- Head and Neck Surgery Foundation (AAO-HNSF) Centralized Otolaryngology Research Efforts (CORE) grant are more likely to procure future National Institutes of Health (NIH) funding; (2) whether CORE grants or NIH Career Development (K) awards have a stronger association with scholarly impact. Historical cohort. Scholarly impact, as measured by the h-index, publication experience, and prior grant history, were determined for CORE-funded and non-CORE-funded academic otolaryngologists. All individuals were assessed for NIH funding history. Of 192 academic otolaryngologists with a CORE funding history, 39.6% had active or prior NIH awards versus 15.1% of 1002 non-CORE-funded faculty (P productivity than those with CORE funding history. Both cohorts had higher scholarly impact values than previously published figures among academic otolaryngologists, highlighting that both CORE grants and NIH K-grants awards are effective career development resources. © American Academy of Otolaryngology—Head and Neck Surgery Foundation 2014.
-
Novel Fission-Product Separation Based on Room-Temperature Ionic Liquids
International Nuclear Information System (INIS)
Rogers, Robin D.
2004-01-01
This project has demonstrated that Sr2+ and Cs+ can be selectively extracted from aqueous solutions into ionic liquids using crown ethers and that unprecedented large distribution coefficients can be achieved for these fission products. The volume of secondary wastes can be significantly minimized with this new separation technology. Through the current EMSP funding, the solvent extraction technology based on ionic liquids has been shown to be viable and can potentially provide the most efficient separation of problematic fission products from high level wastes. The key results from the current funding period are the development of highly selective extraction process for cesium ions based on crown ethers and calixarenes, optimization of selectivities of extractants via systematic change of ionic liquids, and investigation of task-specific ionic liquids incorporating both complexant and solvent characteristics
-
The wisdom of the crowd in funding: information heterogeneity and social networks of crowdfunders
Polzin, Friedemann; Toxopeus, Helen; Stam, Erik
2018-01-01
Crowdfunding has enabled large crowds to fund innovative projects. This type of funding might tap into the wisdom of crowds who were previously disconnected from the funding process. We distinguish between in-crowd and out-crowd funders (with and without ties to project creators) in order to test
-
The wisdom of the crowd in funding: : Information heterogeneity and social networks of crowdfunder
Polzin, F.H.J.; Toxopeus, H.S.; Stam, F.C.
2016-01-01
Crowdfunding has enabled large crowds to fund innovative projects. This type of funding might tap into the wisdom of crowds who were previously disconnected from the funding process. We distinguish between in-crowd and out-crowd funders (with and without ties to project creators) in order to test
-
Start-Up Funding Intentions Among Nascent Nonprofit Entrepreneurs: An Exploratory Investigation
Directory of Open Access Journals (Sweden)
Fredrik O. Andersson
2018-04-01
Full Text Available This paper explores the start-up funding intentions of nascent nonprofit entrepreneurs, i.e., individuals in the process of creating a new formal nonprofit organization. The main questions being examined are from which sources nascent nonprofit entrepreneurs anticipate to obtain start-up funding from, how much start-up funding nascent nonprofit entrepreneurs anticipate they will need to formally launch their new nonprofit, and if there are any differences in funding intentions among nascent nonprofit entrepreneurs with and without previous start-up experience. The results from a survey of 103 nascent nonprofit entrepreneurs in Kansas City are presented and contrasted with existing research on funding of new nonprofit organizations. The results show an apparent preference for start-up funding from philanthropic grants and private donations, along with personal contributions of the founder(s.
-
2013-01-16
... production (NAICS code 111). [emsp14]Animal production (NAICS code 112). [emsp14]Food manufacturing (NAICS... since the use is for expansion of an antibiotic, and of potential public interest. A notice of receipt... are available to control the cabbage maggot in turnip and rutabaga production and significant economic...
-
Ebola research funding: a systematic analysis, 1997-2015.
Fitchett, Joseph Ra; Lichtman, Amos; Soyode, Damilola T; Low, Ariel; Villar de Onis, Jimena; Head, Michael G; Atun, Rifat
2016-12-01
The latest outbreak of Ebola in West Africa overwhelmed the affected countries, with the impact on health extending far beyond Ebola-related deaths that have exceeded 11 000. The need to promptly mobilise resources to control emerging infections is widely recognized. Yet, data on research funding for emerging infections remains inadequately documented. We defined research investment as all funding flows for Ebola and/or Marburg virus from 1997 to April 2015 whose primary purpose was to advance knowledge and new technologies to prevent or cure disease. We sourced data directly from funding organizations and estimated the investment in 2015 US dollars (US$). Funding for Ebola and Marburg virus research in 1997 to 2015 amounted to US$ 1.035 billion, including US$ 435.4 million (42.0%) awarded in 2014 and 2015. Public sources of funding invested US$ 758.8 million (73.1%), philanthropic sources US$ 65.1 million (6.3%), and joint public/private/philanthropic ventures accounted for US$ 213.8 million (20.6%). Prior to the Ebola outbreak in 2014, pre-clinical research dominated research with US$ 443.6 million (73.9%) investment. After the outbreak, however, investment for new product development increased 942.7-fold and that for clinical trials rose 23.5-fold. Investment in new tools to control Ebola and Marburg virus amounted to US$ 399.1 million, with 61.3% awarded for vaccine research, 29.2% for novel therapeutics research such as antivirals and convalescent blood products, and 9.5% for diagnostics research. Research funding and bibliometric output were moderately associated (Spearman's ρ = 0.5232, P = 0.0259), however number of Ebola cases in previous outbreaks and research funding (ρ = 0.1706, P = 0.4985) and Ebola cases in previous outbreaks and research output (ρ = 0.3020, P = 0.0616) were poorly correlated. Significant public and philanthropic funds have been invested in Ebola and Marburg virus research in 2014 and 2015, following
-
Extra-marital sexual partnerships and male friendships in rural Malawi
Directory of Open Access Journals (Sweden)
Shelley Clark
2010-01-01
Full Text Available Extra-marital sexual partnerships (EMSPs are a major route of HIV/AIDS transmission in sub-Saharan Africa. In this paper, we investigate the roles of two types of male friendships - best friends and friends with whom they talk about AIDS - in determining whether men have EMSPs. Using data from men in rural Malawi, we find that men's current extra-marital sexual behavior is most closely correlated with their best friends', but that the behaviors of both types of friends are associated with men's subsequent EMSPs. These findings suggest that men's friendships could be used to help combat the AIDS epidemic.
-
The Evolution of Non-Banking Financial Markets in Hungary: The Case of Mutual Funds
Directory of Open Access Journals (Sweden)
Luminiţa NICOLESCU
2016-12-01
Full Text Available The non-banking sector has an important place in financial markets. Therefore, the performance of financial markets can be looked at in different countries by analyzing the evolution of mutual funds, in terms of their inflows and outflows. This is even more important in the recent period, due to the recent global financial distress. Numerous studies, most of them conducted in the US, illustrate that flows are highly dependent on the previous performance and that a common behavior of investors is rather to look for highly performing funds than to give up the poorly performing ones. This paper studies the flows of funds into and out of Hungarian mutual funds during the period 2007-2014. The evolution of the mutual funds market depends on investor’s behavior and the paper analyzes the behavior of investors. The paper also tries to evaluate if and how the financial crisis affected the investing behavior of Hungarian investors. The main findings of the research illustrate that there are a number of factors that influence the way investors make their decisions. Among those fund flows in the previous month is the factor that influences the most the current flows, illustrating that Hungarians invest only in funds that attracted previously more new money. Other factors with a significant influence on the investors’ behavior are the size of the fund (measured through the net assets and the risk (measured through the standard deviations of returns. The factor that surprisingly seems to have less influence on Hungarian inv estors’ decisions is the performance either measured as the evolution of the fund category or the rank and the square rank of the fund in its category. Another important finding was that data proved that the financial crisis had an impact on the capital market in Hungary, as investments decreased in that particular period and mutual funds performances were lower.
-
Funding and the Attainment of Transformation Goals in South Africa's Higher Education
Wangenge-Ouma, Gerald
2010-01-01
The link between the funding of higher education and the attainment of higher education transformation goals in South Africa, especially access by students from previously under-represented communities, is the main focus of this paper. Specifically, the paper examines three questions: (a) How does public funding of higher education encourage (or…
-
Mutual Fund Performances of Polish Domestic Equity Fund Managers
Directory of Open Access Journals (Sweden)
ömer faruk tan
2015-10-01
Full Text Available Purpose of the article: The main purpose of the paper is empirically evaluating selectivity skills and market timing ability of Polish fund managers during the period from January 2009 to November 2014. After the global financial crisis of 2008, in this period of quantitative easing (QE, thanks to an increase in the money supply, a capital flow from developed countries to developing countries was observed. In this study, we try to analyse that although the financial market in Poland made an incredible progress, whether fund managers show better or worse performance than the market. Methodology/Methods: In order to evaluate fund manager performances, Jensen alpha (1968 is computed, which depicts selectivity skills of fund managers. For determining market timing ability of fund managers, Treynor & Mazuy (1966 regression analysis and Henriksson & Merton (1981 regression analysis are applied. Fund performances are evaluated using Warsaw Stock Exchange Index as the benchmark index. Scientific aim: In this study, we have tried to evaluate selectivity skills and market timing ability of Polish fund managers. A total of 14 equity fund managers’ performances are analysed. The study can be guiding especially for investors who are interested in Polish equity fund performances in a period where emerging stock markets outperformed with quantitative easing. Findings: Jensen (1968 alphas indicate that over this period fund managers did not have selective ability, as none of the 14 funds had statistically significant positive alphas. Furthermore, Treynor & Mazuy (1966 and Henriksson & Merton (1981 regression analysis indicate that over the same period fund managers did not also have market timing ability, as again none of the 14 funds had statistically significant positive coefficients. Conclusions: In this work, we can detect that in the era of quantitative easing, although the financial market in Poland made an incredible progress, the fund returns were
-
The international liability funds in the maritime field
Directory of Open Access Journals (Sweden)
Mišo Mudrić
2009-08-01
Full Text Available This Paper aims to explore the current system of the international liability funds in the maritime field. Through the systematic economical, legal and political analysis of the current and envisaged international, regional and national liability funds connected to the pollution of the seas, an overview of the function, efficiency and critical considerations of the chosen liability funds will be presented. A comparison between the international system of the compensation for the oil pollution damage (and the pending hazardous and noxious substances compensation model, and that of the United States is necessary, in order to determine a difference in approaches these two systems use to tackle the burning issues of oil (and hazardous and noxious substances spills. A special consideration will be devoted to the questions of limited or unlimited liability, scope and strength of the Protection & Indemnity insurance and reinsurance market, problems of the channeling of the liability, moral hazard of the financial caps, and the general lack of the liability funds in the maritime field. Finally, an attempt will be made to consolidate the difference in opinions regarding the previously mentioned issues, and to predict the possible routes of changes awaiting the fund compensation systems.
-
Ebola research funding: a systematic analysis, 1997–2015
Fitchett, Joseph RA; Lichtman, Amos; Soyode, Damilola T; Low, Ariel; Villar de Onis, Jimena; Head, Michael G; Atun, Rifat
2016-01-01
Background The latest outbreak of Ebola in West Africa overwhelmed the affected countries, with the impact on health extending far beyond Ebola–related deaths that have exceeded 11 000. The need to promptly mobilise resources to control emerging infections is widely recognized. Yet, data on research funding for emerging infections remains inadequately documented. Methods We defined research investment as all funding flows for Ebola and/or Marburg virus from 1997 to April 2015 whose primary purpose was to advance knowledge and new technologies to prevent or cure disease. We sourced data directly from funding organizations and estimated the investment in 2015 US dollars (US$). Results Funding for Ebola and Marburg virus research in 1997 to 2015 amounted to US$ 1.035 billion, including US$ 435.4 million (42.0%) awarded in 2014 and 2015. Public sources of funding invested US$ 758.8 million (73.1%), philanthropic sources US$ 65.1 million (6.3%), and joint public/private/philanthropic ventures accounted for US$ 213.8 million (20.6%). Prior to the Ebola outbreak in 2014, pre–clinical research dominated research with US$ 443.6 million (73.9%) investment. After the outbreak, however, investment for new product development increased 942.7–fold and that for clinical trials rose 23.5–fold. Investment in new tools to control Ebola and Marburg virus amounted to US$ 399.1 million, with 61.3% awarded for vaccine research, 29.2% for novel therapeutics research such as antivirals and convalescent blood products, and 9.5% for diagnostics research. Research funding and bibliometric output were moderately associated (Spearman’s ρ = 0.5232, P = 0.0259), however number of Ebola cases in previous outbreaks and research funding (ρ = 0.1706, P = 0.4985) and Ebola cases in previous outbreaks and research output (ρ = 0.3020, P = 0.0616) were poorly correlated. Conclusion Significant public and philanthropic funds have been invested in Ebola and Marburg
-
Governing Board of the Pension Fund
HR Department
2008-01-01
The Governing Board of the Pension Fund (PFGB) held its third meeting in its new composition on 18 February 2008. At this meeting, the PFGB decided to submit to CERN’s governing bodies the actuarial review as at 1st January 2007, together with an explanatory note relating, in particular, to the trends since the previous review and the recommendations. In the latter regard, the PFGB decided to support the actuary’s recommendation to increase contributions by 0.76% in order to maintain, at the end of the 30-year projection period, the same funding ratio as at the beginning of the period, in accordance with a decision taken by the CERN Council in 2002. In its explanatory note, the PFGB also made it clear to the governing bodies that it considers a comprehensive revision of the approach used for actuarial reviews to be essential in the context of the review of the Fund’s funding policy and principles. In particular, the PFGB advocated the creation of an asset fluctuation r...
-
Institute of Scientific and Technical Information of China (English)
YAN Wu; XIONG Hang
2016-01-01
From the perspective of the comparison between the investment performances of the fund managers before and after investment transfer from publicly offered funds to sunshine private funds,we can better explore the influences of the two institutional environments on the investment performances of the fund managers.This paper conducts a comparative analysis of the fund managers,investment performances before and after their investment transfer with the help of a number of fund performance evaluation models.The results show that the overall investment ability of the fund managers have been improved significantly when they transfer from publicly offered funds to sunshine private funds.If decomposing the overall investment ability into time-choosing and stock-picking abilities,the improvement of the fund managers' overall investment ability is mainly reflected in the significant improvement of their time-choosing ability after the transfer,while their stock-picking ability would then decrease a little.At the same time,by studying the personal characteristics of the fund managers,it is found that those who had investment research experience can obtain better investment performances.
-
DEFF Research Database (Denmark)
Bechmann, Ken L.; Rangvid, Jesper
2007-01-01
We develop a new rating of mutual funds: the atpRating. The atpRating assigns crowns to each individual mutual fund based upon the costs an investor pays when investing in the fund in relation to what it would cost to invest in the fund's peers. Within each investment category, the rating assigns...... the return of a fund in a certain year generally contains only little information about the future return that the fund will generate. Finally, we have information on the investments in different mutual funds made by a small subgroup of investors known to have been exposed to both the atp...... five crowns to funds with the lowest costs and one crown to funds with the highest costs. We investigate the ability of the atpRating to predict the future performance of a fund. We find that an investor who has invested in the funds with the lowest costs within an investment category would have...
-
2010-09-27
... and the HUD's Fiscal Year 2010 Notice of Funding Availability (NOFA) Policy Requirements and General...: Notice of Funding Availability (NOFA) for Fiscal Year (FY) 2010 Continuum of Care (CoC) Homeless... (Pub. L. 111-117, approved December 16, 2009). Carried over or recaptured funds from previous fiscal...
-
DEFF Research Database (Denmark)
Bechmann, Ken L.; Rangvid, Jesper
We develop a new rating of mutual funds: the atpRating. The atpRating assigns crowns to each individual mutual fund based upon the costs an investor pays when investing in the fund in relation to what it would cost to invest in the fund’s peers. Within each investment category, the rating assigns......, whereas the return of a fund in a certain year generally contains only little information about the future return that the fund will generate. Finally, we have information on the investments in different mutual funds made by a small subgroup of investors known to have been exposed to both the atp...... five crowns to funds with the lowest costs and one crown to funds with the highest costs. We investigate the ability of the atpRating to predict the future performance of a fund. We find that an investor who has invested in the funds with the lowest costs within an investment category would have...
-
Information theory in econophysics: stock market and retirement funds
Vogel, Eugenio; Saravia, G.; Astete, J.; Díaz, J.; Erribarren, R.; Riadi, F.
2013-03-01
Information theory can help to recognize magnetic phase transitions, what can be seen as a way to recognize different regimes. This is achieved by means of zippers specifically designed to compact data in a meaningful way at is the case for compressor wlzip. In the present contribution we first apply wlzip to the Chilean stock market interpreting the compression rates for the files storing the minute variation of the IPSA indicator. Agitated days yield poor compression rates while calm days yield high compressibility. We then correlate this behavior to the value of the five retirement funds related to the Chilean economy. It is found that the covariance between the profitability of the retirement funds and the compressibility of the IPSA values of previous day is high for those funds investing in risky stocks. Surprisingly, there seems to be no great difference among the three riskier funds contrary to what could be expected from the limitations on the portfolio composition established by the laws that regulate this market.
-
Random matrix theory and fund of funds portfolio optimisation
Conlon, T.; Ruskin, H. J.; Crane, M.
2007-08-01
The proprietary nature of Hedge Fund investing means that it is common practise for managers to release minimal information about their returns. The construction of a fund of hedge funds portfolio requires a correlation matrix which often has to be estimated using a relatively small sample of monthly returns data which induces noise. In this paper, random matrix theory (RMT) is applied to a cross-correlation matrix C, constructed using hedge fund returns data. The analysis reveals a number of eigenvalues that deviate from the spectrum suggested by RMT. The components of the deviating eigenvectors are found to correspond to distinct groups of strategies that are applied by hedge fund managers. The inverse participation ratio is used to quantify the number of components that participate in each eigenvector. Finally, the correlation matrix is cleaned by separating the noisy part from the non-noisy part of C. This technique is found to greatly reduce the difference between the predicted and realised risk of a portfolio, leading to an improved risk profile for a fund of hedge funds.
-
Directory of Open Access Journals (Sweden)
Shang-Jin Wei
1999-12-01
Full Text Available Offshore investment funds are alleged to have engaged in trading behavior that is different from their onshore counterparts because they may be subject to less supervision and regulation. In particular, they may trade more intensely. They could also pursue more aggressively certain trading strategies such as positive feedback trading or herding that could contribute to a greater volatility in the market. Using a unique data set, this chapter compares the trading behavior in the Korean stock market between offshore investment funds with their onshore counterparts registered in the US and UK. There are a number of interesting findings. First, there is indeed evidence suggesting that the offshore funds trade more intensely than their onshore counterparts. Second, however, there is no evidence that the offshore funds engage in positive feedback trading. In contrast, there is strong evidence that the funds from the U.S. and U.K. do. Third, while offshore funds do herd, they do so far less than onshore funds in the U.S. or UK. Fourth, offshore funds hold less glamour stocks (e.g. stocks with high P/E in their portfolio than funds in the U.S. or U.K. do. Moreover, flight to glamour stocks during the in-crisis period is less evident in the case of offshore funds. In sum, offshore funds are no especially worrisome monsters.
-
Tax Planning by Mutual Funds: Evidence From Changes in the Capital Gains Tax Rate
Chen, Feng; Kraft, Arthur; Weiss, Ira
2011-01-01
We investigate whether mutual funds engage in tax planning by testing how they respond to changes in the capital gains tax rates. While previous evidence suggests that individual investors time capital gains realizations, mutual fund managers may not tax plan like individuals because fund managers have incentives to consider the tax liability of both current and potential investors. Our analysis spans over 44 years and six major tax changes, allowing us to examine the effects of both tax rate...
-
KT Fund: Five years of funding for impact
CERN Bulletin
2015-01-01
Cryogenic safety, ion beam therapy, event management for communities, emergency lighting… this year’s applications for funding through the Knowledge Transfer Fund demonstrate the breadth of possible applications of CERN technology beyond high-energy physics. The use of high index glass spherical targets as retroreflectors for a 3D interferometer is the subject of one of the 2015 KT Fund Projects. Following the 2015 selection committee held in January, the KT Fund has funded a total of seven new projects that aim to further develop CERN technologies to a level where they can be transferred and subsequently make a positive impact on society. “CERN’s ambitious scientific programme requires state-of-the-art technologies that are not always directly reusable by society because they were not designed with this purpose in mind,” explains David Mazur, Section Leader of the IP Dissemination Section. “Since 2011, the KT...
-
HR Department
2009-01-01
In line with the decisions concerning the new governance of the Pension Fund taken by the Council in June and September 2007, amendments to Section 2 "Structure and Functions" of the Rules of the Fund (Article I 2.08 – Composition of the Investment Committee and Article I 2.08b – Chairman of the Investment Committee) entered into force on 1st January 2009. These articles replace the provisions of the existing Regulations of the Investment Committee of the Pension Fund relating to the composition and chairman of the Investment Committee. Amendment No. 27 (PDF document) may be downloaded directly from the Pension Fund website: http://pensions.web.cern.ch/Pensions/statuts___rules.htm or obtained from the Administration of the Fund (Tel. 022 7672742, mailto:Barbara.Bordjah@cern.ch).
-
HR Department
2008-01-01
The Pension Fund Governing Board (PFGB) held two meetings over the summer, the first on 9 June and the second on 1st September. The agendas of the two meetings had several items in common, including progress reports on the work of the four working groups. Group 1, which is responsible for the revision of Chapter I, Section 2 of the Rules of the Fund, has made good progress but will need more time to complete its terms of reference in view of the number and complexity of the articles to be amended. In parallel, the Group has approved a code of conduct for the Pension Fund, which is based, in particular, on the new charter introduced for Swiss pension funds by the Swiss Association of Provident Institutions (ASIP) and the CFA (Chartered Financial Analyst) code of ethics applicable to members of pension fund bodies. The PFGB took note that the Group had also been working on the rules relating to the status of the personnel of the Fund and the composition of the Investment Committee. The work of Group 2, responsi...
-
2006-01-01
At its June 2006 meeting, the Finance Committee approved the following amendment to Article 6a of the Regulations for elections to the Governing Board of the Pension Fund, which will enter into force on 1.7.2006: Current text New text ... 6a. The Administrator of the Fund shall be responsible for holding the elections and for issuing all relevant information. ... ... 6a. The Administrator of the Fund shall be responsible for holding the elections by electronic voting or, if this method cannot be used, following the procedure outlined in Articles 6i., 6j. and 6k. below. He shall issue to the members of the Pension Fund all relevant information concerning the elections. The deadlines mentioned in paragraphs 6i. and 6j. below shall apply mutatis mutandis to electronic voting. ... The amendment will allow the Pension Fund to use an electronic voting procedure for the election of elected members to the Governing Board of the Fund. It will be included in a complete new edition of the Rules and Regulatio...
-
International Nuclear Information System (INIS)
1983-05-01
The Nuclear Waste Policy Act of 1982, P.L. 97-425 (the Act), provides for establishment of two separate special funds in the US Treasury, the Interim Storage Fund and the Nuclear Waste Fund (the Funds). The Interim Storage Fund (Sec. 136) is the financing mechanism for the provision of federal interim storage capacity, not to exceed 1900 metric tons, for spent nuclear fuel (SNF) from civilian reactors. Basically, interim storage of SNF is the responsibility of the owners and generators of nuclear wastes. Storage at government facilities will be provided only if the utilities do not have adequate storage capacity. The Nuclear Waste Fund (Sec. 302) is the statutory financing approach for the Department's radioactive waste disposal program. P.L. 97-425 directs utilities to pay a mandatory fee to cover DOE's expected costs for nuclear waste disposal. The Funds are administered by the Department of Energy. This Plan identifies how DOE will implement and manage the Nuclear Waste and Interim Storage Funds
-
Rhizonin A from Burkholderia sp. KCTC11096 and Its Growth Promoting Role in Lettuce Seed Germination
Directory of Open Access Journals (Sweden)
Sang-Mo Kang
2012-07-01
Full Text Available We isolated and identified a gibberellin-producing Burkholderia em>sp. KCTC 11096 from agricultural field soils. The culture filtrate of plant growth promoting rhizobacteria (PGPR significantly increased the germination and growth of lettuce and Chinese cabbage seeds. The ethyl acetate extract of the PGPR culture showed significantly higher rate of lettuce seed germination and growth as compared to the distilled water treated control. The ethyl acetate fraction of the Burkholderia em>sp. was subjected to bioassay-guided isolation and we obtained for the first time from a Burkholderia em>sp. the plant growth promoting compound rhizonin A (1, which was characterized through NMR and MS techniques. Application of various concentrations of 1 significantly promoted the lettuce seed germination as compared to control.
-
Directory of Open Access Journals (Sweden)
Valencia Jenny
1999-12-01
Full Text Available
EI hongo Sclerotinia sclerotiorum ocasiona perdidas apreciables en diversos cultivos de flores y hortalizas. La investigación consistió en evaluar la capacidad antagónica de algunos aislamientos de Trichoderma em>sp. Y Gliocladium em>sp. Sobre Sclerotinia sclerotiorum, tanto in vitro, como en plantas de crisantemo. Los mejores antagonistas del patógeno in vitro fueron los aislamientos G-8B y G-98 de Gliocladium em>sp. y los aislamientos T-2IB y T-34B de Trichoderma em>sp. Los dos aislamientos de Gliocladium em>sp. Formaron un halo de inhibición alrededor de la colonia del patógeno, mientras que los aislamientos de Trichoderma em>sp. Produjeron esporulación abundante sobre las colonias del patógeno. Los mejores tratamientos en el control de la enfermedad en plantas de crisantemo fueron los aislamientos T-2IB y T-34B de Trichoderma em>sp. y el aislamiento G-8B de Gliocladium em>sp., con un menor índice y una menor severidad de la enfermedad. La metodología de evaluación in vitro utilizada en la investigación fue confiable, ya que los resultados encontrados en el laboratorio fueron bastante similares a los obtenidos en el ensayo de invernadero. Además, los aislamientos de Trichoderma y de Gliocladium utilizados ocasionaron un estimulo apreciable en el crecimiento de las plantas y un adelanto en la floración.
-
Danish mutual fund performance
DEFF Research Database (Denmark)
Christensen, Michael
2013-01-01
This article provides the first independent performance analysis of Danish mutual funds. We analyse selectivity and market timing abilities for 71 mutual funds that have been in operation from 2001 to 2010. The results show great fund performance diversity. Half the funds have performed neutrally......, whereas 42% of the funds have shown significantly negative performance and only 7% of the funds have over-performed their benchmark. Furthermore, 14% of the funds analysed possess market timing abilities, but for 8 out of 10 funds, their market timing ability has been unsuccessful....
-
Governance of pension funds: interlocking and compensation of Australian superannuation fund boards
Ooi, Elizabeth Meishan
2017-01-01
This thesis documents the incidence and determinants of board interlocking (where directors simultaneously sit on multiple boards) in pension funds and examines its effect on fund performance. It also investigates the determinants of pension fund director compensation. The motivation to examine these issues stems from the distinctive interlocking and compensation practices in pension funds. Data on a sample of 249 Australian pension funds from 2004 to 2011 is collected from fund documents ...
-
Return Persistence and Fund Flows in the Worst Performing Mutual Funds
Jonathan B. Berk; Ian Tonks
2007-01-01
We document that the observed persistence amongst the worst performing actively managed mutual funds is attributable to funds that have performed poorly both in the current and prior year. We demonstrate that this persistence results from an unwillingness of investors in these funds to respond to bad performance by withdrawing their capital. In contrast, funds that only performed poorly in the current year have a significantly larger (out)flow of funds/return sensitivity and consequently show...
-
34 CFR 674.17 - Federal interest in allocated funds-transfer of Fund.
2010-07-01
... Federal interest in that Fund: (1) A capital distribution of the liquid assets of the Fund according to... 34 Education 3 2010-07-01 2010-07-01 false Federal interest in allocated funds-transfer of Fund... Provisions § 674.17 Federal interest in allocated funds—transfer of Fund. (a) If an institution responsible...
-
2006-01-01
As announced in the Bulletin during the summer, the Pension Fund has published a complete new version of the Fund's Rules and Regulations incorporating all amendments up to 1 November 2006, following the decisions of the CERN Council. This new version of the Rules and Regulations can be downloaded in A4 format (pdf document) directly from the Pension Fund's website (http://pensions.web.cern.ch/Pensions/statuts___rules.htm for the Rules and http://pensions.web.cern.ch/Pensions/règlements___regulations.htm for the Regulations) or obtained from the Fund Administration (Tel. 022 767 27 42, Building 5, 1-030, or by e-mail Sophia.Revol@cern.ch).
-
HR Department
2009-01-01
In line with the decisions taken by the Council in June and September 2007 concerning the new governance of the Pension Fund, amendments to Section 2 «Structure and Functions» of the Rules of the Fund entered into force on 1st January 2009 (Article I 2.08 – Composition of the Investment Committee and Article I 2.08bis – Chairman of the Investment Committee). Amendment n°27 may be downloaded (PDF document) directly from the Pension Fund website: http://pensions.web.cern.ch/Pensions/statuts___rules.htm or obtained from the Administration of the Fund (Tel. 022 767 2742, mailto:Barbara.Bordjah@cern.ch).
-
Self Managed Superannuation Funds and the Bear Market of 2007-2008
Directory of Open Access Journals (Sweden)
Peter J Phillips
2009-03-01
Full Text Available In this paper, we examine the bear market performance of self managed superannuation funds(SMSFs. Previous studies have highlighted some problems with the portfolio construction ofSMSFs. This provides a rationale for examining the performance of SMSFs during the recentbear market. Based on data from two independent samples of a total of 141 self managedsuperannuation funds, two archetype SMSF portfolios are constructed in order to generateinsights into the average performance of the funds in the samples. The performance of thesefunds is compared with (1 the unmanaged market index; and (2 the average returnsgenerated by retail (balanced superannuation funds. Interestingly, whilst the SMSFs havegenerated negative returns and problems with the portfolio construction remain, the relativeperformance of the overall portfolios vis-à-vis the market index and professionally managedfunds is reasonably favourable. However, the equity portions of the SMSF portfolios sufferfrom under-diversification and could be more efficiently constructed.
-
Funding Science with Science: Cryptocurrency and Independent Academic Research Funding
Directory of Open Access Journals (Sweden)
Edward Lehner
2017-12-01
Full Text Available Scientific funding within the academy is an often complicated affair involving disparate and competing interests. Private universities, for instance, are vastly outpacing public institutions in garnering large, prestigious, science-related grants and external research investment. Inequities also extend to the types of research funded, with government, corporate, and even military interests privileging certain types of inquiry. This article proposes an innovative type of science research fund using cryptocurrencies, a fast-growing asset class. Although not a total funding solution, staking coins, specifically, can be strategically invested in to yield compound interest. These coins use masternode technologies to collateralize the network and speed transaction pace and may pay dividends to masternode holders, allowing institutions that purchase these types of central hubs to potentially engage in a lucrative form of dividend reinvestment. Using cryptocurrencies as a new funding stream may garner large amounts of capital and creation of nonprofit institutes to support the future of funding scientific research within educational institutions.
-
International Nuclear Information System (INIS)
1998-04-01
The Department of Energy's Environmental Management Science Program (EMSP) serves as a catalyst for the application of scientific discoveries to the development and deployment of technologies that will lead to reduction of the costs and risks associated with cleaning up the nation's nuclear complex. Appendix C provides details about each of the Department's 82 high cost projects and lists the EMSP research awards with potential to impact each of these projects. The high cost projects listed are those having costs greater than $50 million in constant 1998 dollars from the year 2007 and beyond, based on the March 1998 Accelerating Cleanup: Paths to Closure Draft data, and having costs of quantities of material associated with an environmental management problem area. The high cost project information is grouped by operations office and organized by site and project code. Each operations office section begins with a list of research needs associated with that operations office. Potentially related research awards are listed by problem area in the Index of Research Awards by Environmental Management Problem Area, which can be found at the end of appendices B and C. For projects that address high risks to the public, workers, or the environment, refer also the Health/Ecology/Risk problem area awards. Research needs are programmatic or technical challenges that may benefit from knowledge gained through basic research
-
1998 Environmental Management Science Program Annual Report
International Nuclear Information System (INIS)
1999-01-01
The Environmental Management Science Program (EMSP) is a collaborative partnership between the DOE Office of Environmental Management (EM), Office of Science (DOE-SC), and the Idaho Operations Office (DOE-ID) to sponsor basic environmental and waste management related research. Results are expected to lead to reduction of the costs, schedule, and risks associated with cleaning up the nation's nuclear complex. The EMSP research portfolio addresses the most challenging technical problems of the EM program related to high level waste, spent nuclear fuel, mixed waste, nuclear materials, remedial action, decontamination and decommissioning, and health, ecology, or risk. The EMSP was established in response to a mandate from Congress in the fiscal year 1996 Energy and Water Development Appropriations Act. Congress directed the Department to ''provide sufficient attention and resources to longer-term basic science research which needs to be done to ultimately reduce cleanup costs, develop a program that takes advantage of laboratory and university expertise, and seek new and innovative cleanup methods to replace current conventional approaches which are often costly and ineffective''. This mandate followed similar recommendations from the Galvin Commission to the Secretary of Energy Advisory Board. The EMSP also responds to needs identified by National Academy of Sciences experts, regulators, citizen advisory groups, and other stakeholders
-
25 CFR 170.925 - Is ERFO funding supplemental to IRR Program funding?
2010-04-01
... RESERVATION ROADS PROGRAM Miscellaneous Provisions Emergency Relief § 170.925 Is ERFO funding supplemental to... construction and maintenance funds for FHWA-approved repairs. If IRR construction or maintenance funds are used... used to reimburse the construction or maintenance funds expended. ...
-
DEFF Research Database (Denmark)
Grønborg, Niels Strange; Lunde, Asger; Timmermann, Allan
We present a new approach to selecting active mutual funds that uses both holdings and return information to eliminate funds with predicted inferior performance through a sequence of pair-wise comparisons. Our methodology determines both the number of skilled funds and their identity, funds...... identified ex-ante as being superior earn substantially higher risk-adjusted returns than top funds identified by conventional alpha ranking methods. Importantly, we find strong evidence of variation in the breadth of the set of funds identified as superior, as well as fluctuations in the style and industry...... exposures of such funds over time and across different volatility states....
-
International Nuclear Information System (INIS)
1984-08-01
This revision of the Fund Management Plan updates the original plan published in May 1983. It is derived from and supplements the Mission Plan of the Office of Civilian Radioactive Waste Management. A major purpose in preparing this Plan is to inform the public about management of the Nuclear Waste Fund and the Interim Storage Fund. The purpose of the Interim Storage Fund is to finance the provision of the Federal interim storage capacity of up to 1900 metric tons of spent nuclear fuel. The Nuclear Waste Fund is a separate account for all revenues and expenditures related to the geological disposal and monitored retrieval storage of civilian radioactive waste
-
1999-01-01
The Governing Board of the Pension Fund held its first three meetings of the year on 2 February, 2 March and 13 April.At the first of these meetings the Board first heard a presentation by Mrs H. Richmond of JP Morgan on the results of the currency overlay programme applied to the Fund's assets. Thanks to the policy pursued by this company, volatility, i.e. portfolio risk for assets denominated in currencies other than the Swiss franc, has been reduced. However, despite the fact that JP Morgan has considerable expertise in this field, no gain has been achieved over the past year. The Governing Board heard a report by the Investment Committee Chairman G. Maurin on the meetings of 21-22 and 28 January at which the Pension Fund's various fund managers had been interviewed on their results. Decisions were taken on benchmarks aimed at optimising management and on the terms of reference of the Internal Management Unit. It was also decided to place two fund managers on a watching list and to request them to make eve...
-
HR Department
2008-01-01
The PFGB held two meetings over the summer, the first on 9 June and the second on 1st September. The agendas of the two meetings had several items in common, including progress reports on the work of the four working groups. Group 1, which is responsible for the revision of Chapter I, Section 2 of the Rules of the Fund, has made good progress but will need more time to complete its terms of reference in view of the number and complexity of the articles to be amended. In parallel, the Group has approved a code of conduct for the Pension Fund, which is based, in particular, on the new charter introduced for Swiss pension funds by the Swiss Association of Provident Institutions (ASIP) and the CFA (Chartered Financial Analyst) code of ethics applicable to members of pension fund bodies. The PFGB took note that the Group had also been working on the rules relating to the status of the personnel of the Fund and the composition of the Investment Committee. The work of Group 2, resp...
-
2003-01-01
All members and beneficiaries of the Pension Fund are invited to attend the Annual General Asssembly to be held in the CERN Auditorium on Wednesday 8 October 2003 at 14.30 hrs The Agenda comprises: 1. Opening RemarksJ. Bezemer 2. Annual Report 2002: Presentation and results Copies of the Report are available from divisional secretariats. C. Cuénoud 3. Overview of the present situation with regard to pension funds C. Cuénoud 4. Performance of the Fund since the year 2000 and aspects of the ongoing asset/liability modelling exercise G. Maurin 5. Questions from members and beneficiariesPersons wishing to ask questions are encouraged to submit them, where possible, in writing in advance, addressed to Mr C. Cuénoud, Administrator of the Fund. 6. Conclusions J. Bezemer As usual, participants are invited to drinks after the assembly. NB The minutes of the 2002 General Assembly are available from the Administration of the Fund tel.(+4122)767 27 42; e-mail Sophia.Revol@cern.ch)
-
Directory of Open Access Journals (Sweden)
Radu, I.
2012-01-01
Full Text Available Mutual funds are one of the key suppliers of liquidity in Romanian capital market. This paper uses quarterly data on Romanian open-end funds starting with 2006 until 2010. We find that significant negative flows (outflows were registered beginning with the end of 2007 (equity funds, during 2008 (equity funds, balanced funds, other funds and bond funds in the last 2 quarters of the year and from 2009 to 2010 (in the case of money market funds. There is evidence that the changing market conditions attract differently the incoming flows in these mutual funds. This is the reason why such perturbations affect investors’ confidence for these investment vehicles and impose the reorientation of the investment funds and of their investors to other alternatives in order to preserve their capital.
-
Broeders, D.; Chen, D.; Minderhoud, P.; Schudel, W.
2016-01-01
This paper uses unique and detailed transaction data to analyse herding behavior among pension funds. We distinguish between weak, semi strong and strong herding behaviour. Weak herding occurs if pension funds have similar rebalancing strategies. Semi strong herding arises when pension funds react
-
HR Department
2007-01-01
The Rules and Regulations of the Pension Fund have been updated, following Council's decision of December 2006 concerning the adjustment of pensions, fixed amounts and allowances by 1.16% with effect from 1.1.2007 (Annex B, page 31). The updated version can be downloaded directly from the Pension Fund's website (http://pensions.web.cern.ch/Pensions/statuts___rules.htm or obtained from the Fund Administration (Tel. 022 767 27 42, Building 5, 1-030, or by e-mail Sophia.Revol@cern.ch).
-
HR Department
2007-01-01
The Rules and Regulations of the Pension Fund have been updated, following Council's decision of December 2006 concerning the adjustment of pensions, fixed amounts and allowances by 1.16% with effect from 1.1.2007 (Annex B, page 31). The updated version can be downloaded directly from the Pension Fund's website (http://pensions.web.cern.ch/Pensions/statuts___rules.htm) or obtained from the Fund Administration (Tel. 022 767 27 42, Building 5, 1-030), or by e-mail (Sophia.Revol@cern.ch).
-
Energy Technology Data Exchange (ETDEWEB)
NONE
1998-04-01
The Department of Energy`s Environmental Management Science Program (EMSP) serves as a catalyst for the application of scientific discoveries to the development and deployment of technologies that will lead to reduction of the costs and risks associated with cleaning up the nation`s nuclear complex. Appendix C provides details about each of the Department`s 82 high cost projects and lists the EMSP research awards with potential to impact each of these projects. The high cost projects listed are those having costs greater than $50 million in constant 1998 dollars from the year 2007 and beyond, based on the March 1998 Accelerating Cleanup: Paths to Closure Draft data, and having costs of quantities of material associated with an environmental management problem area. The high cost project information is grouped by operations office and organized by site and project code. Each operations office section begins with a list of research needs associated with that operations office. Potentially related research awards are listed by problem area in the Index of Research Awards by Environmental Management Problem Area, which can be found at the end of appendices B and C. For projects that address high risks to the public, workers, or the environment, refer also the Health/Ecology/Risk problem area awards. Research needs are programmatic or technical challenges that may benefit from knowledge gained through basic research.
-
EVALUATION OF THE FINANCIAL PERFORMANCE OF PENSION FUNDS IN CROATIA
Directory of Open Access Journals (Sweden)
Dražen Novaković
2015-07-01
Full Text Available The aim of this paper is to evaluate the financial performance of pension funds in Croatia. Although there are other factors which are important in the pension funds overall performance, this paper focuses on investment accomplishments. The purpose of measuring portfolio performance is to determine whether portfolio managers add value compared to passive investment strategies. The traditional approach to pension funds’ performance evaluation underlines standard measures of financial performance (e.g. ratios such as Sharpe’s, Sortino’s, Treynor’s, etc. which quantify the ability of pension fund managers to deliver an active management risk premium, with respect to benchmarks. In this paper, the previously mentioned traditional measures of risk-adjusted performance are applied to Croatian pension funds. Due to recent changes in pension systems in other Eastern European countries once again emphasis is put on this issue in Croatia. The analysis furthermore includes evaluation of pension funds’ asset allocation. The period of analysis covers twelve years, from the establishment of pension funds in Croatia in 2002 until 2013. The main hypothesis of the paper states that Croatian pension funds underperform with respect to benchmark comparisons, set as return on the combined CROBEX/CROBIS portfolio. Results show that the main hypothesis does not hold. The financial performance of pension funds directly influences their competitiveness, derived from the possibility of measuring their success in active portfolio management. In addition, pension funds are expected to support the national economy. By investing their accumulating assets, they can protect jobs and enhance economic growth. However, they can achieve that only if they are competitive in means of financial performance.
-
2005-01-01
Amendment No 21 to the Rules and Regulations of the Pension Fund has just been published and can be obtained from Department/Unit secretariats or, in the case of pensioners, directly from the Administration of the Fund (tel. 767-91 94/27 38), bldg 5, 1-030. This Amendment, which entered into force on 17.03.2005, concerns Article I 2.05 (Composition of the Governing Board) and Article I 2.06 (Chairman and Vice-Chairmen of the Governing Board) of the Rules of the Pension Fund.
-
Net Stable Funding Ratio: Impact on Funding Value Adjustment
Siadat, Medya; Hammarlid, Ola
2017-01-01
In this paper we investigate the relationship between Funding Value Adjustment (FVA) and Net Stable Funding Ratio (NSFR). FVA is defined in a consistent way with NSFR such that the new framework of FVA monitors the costs due to keeping NSFR at an acceptable level, as well. In addition, the problem of choosing the optimal funding strategy is formulated as a shortest path problem where the proposed FVA framework is applied in the optimization process. The solution provides us with the optimal f...
-
Natural resource trust funds : a comparison of Alberta and Alaska resource funds
Energy Technology Data Exchange (ETDEWEB)
Warrack, A.A.; Keddie, R.R. [Alberta Univ., Edmonton, AB (Canada)
2002-09-01
Alberta and Alaska both have an economy based largely on natural resources. The cyclical nature of their economies poses a challenge to stability and sustained prosperity. During the oil crisis of 1973-1974, Alberta and Alaska began receiving oil and gas royalties. The idea of an endowment-type fund began taking shape. This fund would assist in the gradual transition from dependence on non-renewable resources to the responsible management of these resources. Both the Alberta Heritage Savings Trust Fund and the Alaska Permanent Fund were created in 1976. The governments of both jurisdictions set aside revenues from natural resource royalties to provide economic stability. Both jurisdictions followed different policies in terms of management, structure, governance, and objectives. In this paper, the authors compared both funds, examining the policy options which had an impact on their growth and successes. The results showed that in Alaska, monies are paid directly to eligible persons, while allocation decisions in Alberta have been made by the government. The government manages the fund in Alberta, while in Alaska, the fund is managed by a separate entity. The Alaskan fund continues to grow, while the the size of the Alberta fund has remained unchanged for a number of years and is not growing. 21 refs., 5 figs.
-
The potential economic and environmental impact of a Public Benefit Fund in Louisiana
International Nuclear Information System (INIS)
Kaiser, M.J.; Pulsipher, A.G.; Baumann, R.H.
2004-01-01
Public Benefit Fund programs are one approach to provide energy assistance to low-income households placed at risk in a competitive electric industry. The purpose of this paper is to assess the potential economic and environmental impact of a proposed Public Benefit Fund for the state of Louisiana. The 'best available' model to estimate the relationship between the cost of Public Benefit Fund programs and the benefits delivered by its implementation would be based on an evaluation of existent energy conservation and weatherization programs in the state, but unfortunately, such an evaluation has not been previously performed and so the 'next best' analytic model was employed. The impact of a Public Benefit Fund on energy savings and environmental consequences is assessed through a simulation model and input-output analysis. The model developed is based on publicly available data and infer results under a reasonable assumption set. The model structure and system assumptions of the Public Benefit Fund program are described, realistic policy alternatives are examined--including cost-ceiling, variable funding, and target group strategies--and the limitations of the analysis are outlined
-
The potential economic and environmental impact of a Public Benefit Fund in Louisiana
International Nuclear Information System (INIS)
Kaiser, Mark J.; Pulsipher, Allan G.; Baumann, Robert H.
2004-01-01
Public Benefit Fund programs are one approach to provide energy assistance to low-income households placed at risk in a competitive electric industry. The purpose of this paper is to assess the potential economic and environmental impact of a proposed Public Benefit Fund for the state of Louisiana. The 'best available' model to estimate the relationship between the cost of Public Benefit Fund programs and the benefits delivered by its implementation would be based on an evaluation of existent energy conservation and weatherization programs in the state, but unfortunately, such an evaluation has not been previously performed and so the 'next best' analytic model was employed. The impact of a Public Benefit Fund on energy savings and environmental consequences is assessed through a simulation model and input-output analysis. The model developed is based on publicly available data and infer results under a reasonable assumption set. The model structure and system assumptions of the Public Benefit Fund program are described, realistic policy alternatives are examined, including cost-ceiling, variable funding, and target group strategies, and the limitations of the analysis are outlined. (Author)
-
Science on a Shoestring: Building Nursing Knowledge With Limited Funding.
Conn, Vicki S; Topp, Robert; Dunn, Susan L; Hopp, Lisa; Jadack, Rosemary; Jansen, Debra A; Jefferson, Urmeka T; Moch, Susan Diemert
2015-10-01
Building the science for nursing practice has never been more important. However, shrunken federal and state research budgets mean that investigators must find alternative sources of financial support and develop projects that are less costly to carry out. New investigators often build beginning programs of research with limited funding. This article provides an overview of some cost-effective research approaches and gives suggestions for finding other sources of funding. Examples of more cost-effective research approaches include adding complementary questions to existing funded research projects; conducting primary analysis of electronic patient records and social media content; conducting secondary analysis of data from completed studies; reviewing and synthesizing previously completed research; implementing community-based participatory research; participating in collaborative research efforts such as inter-campus team research, practice-based research networks (PBRNs), and involving undergraduate and doctoral students in research efforts. Instead of relying on funding from the National Institutes of Health (NIH) and other government agencies, nurse researchers may be able to find support for research from local sources such as businesses, organizations, or clinical agencies. Investigators will increasingly have to rely on these and other creative approaches to fund and implement their research programs if granting agency budgets do not significantly expand. © The Author(s) 2015.
-
de Jong, F.C.J.M.; Wingens, L.
2013-01-01
This study investigates the influence of fund management firm characteristics on mutual fund performance. Using a sample of European domiciled open-end equity funds for the period 1998-2008, this study finds that the funds of private companies have performed better than the funds of public
-
The Adoption of Open Access Funds Among Canadian Academic Research Libraries, 2008-2012
Directory of Open Access Journals (Sweden)
Crystal Hampson
2014-11-01
Full Text Available As a result of changes in scholarly communication created by the open access movement, some academic libraries established open access (OA publishing funds. OA funds are monies set aside at an institution to fund open access publishing of the results of scholarly research. OA funds are a recent innovation in the type of services offered by academic libraries. Adoption of an innovation can be examined in the light of established theories of innovation adoption among social systems. To examine academic libraries’ responses to OA publishing charges, this article explores the adoption of OA funds among Canadian academic research libraries from 2008 to 2012 by analyzing results from a series of previously published surveys. The findings are then examined in light of Everett Rogers’ Innovation Diffusion Theory (IDT to consider the question of whether or not OA funds are becoming a standard service in Canadian academic research institutions. Adoption in Canada is briefly compared to that in the United States and United Kingdom. The paper concludes that, as of 2012, OA funds were becoming common but were not a standard service in Canadian academic research libraries and that libraries were actively participating in the development of OA funding models. Given the current Canadian context, the need of researchers for OA publishing support is likely to create pressure for continued adoption of OA funds among Canadian academic research institutions. However, assessment of existing OA funds is needed.
-
2000-01-01
This candidature has been duly registered and is hereby presented in accordance with paragraph 6.h of the Regulations for Elections to the Governing Board of the Pension Fund. Candidate: Name: RANJARD First Name: Florence Having been a member of the Governing Board of the Pension Fund since 1983 as Guy Maurins alternate, I am standing for a further 3-year term of office. Over the past few years work has concentrated essentially on following items: Monitoring of the work of the fund managers and their performances. The three-yearly study of the Funds actuarial situation. The pension guarantees second phase. The Fund is approaching its maturity: the level of benefits exceeds contributions. In this context it has to strike a suitable balance between management of the risk from a dynamic investment policy, while by a prudent policy avoiding any significant loss of its capital. These will be my concerns within the Governing Board of the Pension Fund if you give me your support.
-
Marina Giampietro
2012-01-01
For the first time, six knowledge and technology transfer activities are set to benefit from a dedicated fund made available by the Knowledge Transfer group. This initiative cements CERN’s commitment to sharing its technological knowledge and expertise with society. GEM detectors for flame detection and early earthquake prediction, radio-frequency absorbers for energy recovery, and exotic radioisotopes for medical applications are among the projects funded by the recently introduced KT Fund. “CERN’s scientific programme generates a considerable amount of intellectual property, a natural driver for innovation,” explains Giovanni Anelli, Head of the Knowledge Transfer Group. “Very often, though, financial support is needed to bring the newly-born technologies a step further and make them ready for transfer to other research institutes or to companies.” This is where the KT fund comes into play. It provides vital support in the early sta...
-
Comparison of State-Funded Technology Maturation Programs.
Energy Technology Data Exchange (ETDEWEB)
Keller, Elizabeth James Kistin [Sandia National Lab. (SNL-NM), Albuquerque, NM (United States); Warren, Drake [Sandia National Lab. (SNL-NM), Albuquerque, NM (United States); Hess, Marguerite Evelyn [Sandia National Lab. (SNL-NM), Albuquerque, NM (United States)
2016-12-01
This study examines the structure and impact of state-funded technology maturation programs that leverage research institutions for economic development throughout the United States. The lessons learned and practices identified from previous experiences will inform Sandia National Laboratories' Government Relations and Technology Partnerships teams as they participate in near-term discussions about the proposed Technology Readiness Gross Receipts Tax Credit and Program, and continue to shape longer-term program and partnership opportunities. This Page Intentionally Left Blank
-
Othman, J.; Asutay, M.; Jamailan, N.
2018-01-01
Purpose: This paper aims to provide an empirical evidence on the fund flows-past return performance relationship by also considering the management expense ratio, the portfolio turnover, the fund size and the fund age of Islamic equity funds (IEF) investors in comparison with conventional equity funds (CEF) investors. Design/methodology/approach: By using panel data, the sample of Malaysian domestic managed equity funds are considered comprised of 20 individual funds from IEF a...
-
Directory of Open Access Journals (Sweden)
COPIL CRINA ANGELA
2013-07-01
Full Text Available I chose this topic because my goal was to capture in detail all aspects of the evolution of investment funds under the influence of factors leading to globalization of the banking financial market. Main motivation was that I proposed to present in an original manner the concept of investment in mutual funds by the thoroughness of the following points: the different types of investment funds from Romania, the advantages, the risks and the specific costs of the investment in mutual funds and the effects of the financial crisis on the industry of the investment funds on the national level. The financial crisis and the risk of infecting the global economy affected the taste of risk of the investors and their request for the investment fund, determining the orientation of the investors to the funds with a lower risk – the diversified funds, the funds of bonds and the monetary funds. I considered important the theoretical approach of the concept of investments in investment funds because they are a barometer of the macro economical stability, in case the economical increase is positive on the macro economical level the investments in investments funds are increasing too. In Romania the market of the mutual funds is at an incipient level, but with potential and perspectives of development. Due to the bankruptcy of FNI in the beginning of the years 2000 and due to the absence of a clear legislation regarding the calculation of the unitary value of the net asset and the control of the activity developed by the investment funds, the development of the industry of the investment funds had to fight against the crisis of credibility generated by these events. The convergence of the Romanian economy to the European standards will attract also a modification of the structure of the financial investments of the individuals, by an increase of the investments in funds. In the world the investment funds are preferred by the investors for their advantages
-
Are fund of hedge fund returns asymmetric?
Lynch, Margaret; Hutson, Elaine; Stevenson, Max
2004-01-01
We examine the return distributions of 332 funds of hedge funds and associated indices. Over half of the sample is significantly skewed according to the skewness statistic, and these are split 50/50 positive and negative. However, we argue that the skewness statistic can lead to erroneous inferences regarding the nature of the return distribution, because the test statistic is based on the normal distribution. Using a series of tests that make minimal assumptions about the shape of the ...
-
A New Class of Solvents for TRU Dissolution and Separation: Ionic Liquids. Project No. 81891
International Nuclear Information System (INIS)
Rogers, Robin D.
2004-01-01
Through the current EMSP funding, solvent extraction technologies based on liquid-liquid partitioning of TRU to an Ionic Liquid phase containing conventional complexants has been shown to be viable. The growing understanding of the role that the different components of an ionic liquid can have on the partitioning mechanism, and on the nature of the subsequent dissolved species indicates strongly that ionic liquids are not necessarily direct replacements for volatile or otherwise hazardous organic solvents. Separations and partitioning can be exceptionally complex with competing solvent extraction, cation, anion and sacrificial ion exchange mechanisms are all important, depending on the selection of components for formation of the ionic liquid phase, and that control of these competing mechanisms can be utilized to provide new, alternative separations schemes
-
Gas tax fund and public transit fund outcomes report
International Nuclear Information System (INIS)
2009-01-01
Federal gas tax and public transit agreements were signed in 2005 by the Government of Canada, the Province of Ontario, the Association of Municipalities of Ontario (AMO) and the City of Toronto in order to address long-term community sustainability and invest in municipal infrastructure. The agreement committed to providing $1.9 billion to Ontario municipalities over a 5-year period. An additional $2.4 billion has been provided for a further 4-year period from 2010 to 2014. The funds are used by communities to invest in capacity building or environmentally sustainable municipal infrastructure projects. This report identified the intermediate and ultimate outcomes of the federal gas tax fund and public transit fund as of December 2008. Outcomes were presented in the categories of community energy systems, public transit, water and wastewater, solid waste, and roads and bridges. Funding highlights and economic spin-offs for the projects were also presented, as well as summaries of ancillary social outcomes. 6 tabs., 4 figs.
-
Safe physiotherapy interventions in large cervical disc herniations.
LENUS (Irish Health Repository)
Keramat, Keramat Ullah
2012-01-01
A 34-year-old woman was seen in a physiotherapy department with signs and symptoms of cervical radiculopathy. Loss of cervical lordosis and a large paracentral to intraforaminal disc prolapse (8 mm) at C5-C6 level was reported on MRI. She was taking diclofenac sodium, tramadol HCl, diazepam and pregabalin for the preceding 2 months and no significant improvement, except temporary relief, was reported. She was referred to physiotherapy while awaiting a surgical opinion from a neurosurgeon. In physiotherapy she was treated with mobilisation of the upper thoracic spine from C7 to T6 level. A cervical extension exercise was performed with prior voluntary extension of the thoracic spine and elevated shoulders. She was advised to continue the same at home. General posture advice was given. Signs and symptoms resolved within the following four sessions of treatment over 3 weeks. Surgical intervention was subsequently deemed unnecessary.
-
Governing Board of the Pension Fund
HR Department
2008-01-01
The Pension Fund Governing Board (PFGB) held its first two meetings in the new configuration on 16 November 2007 and 14 January 2008. Most of the items examined, such as the actuarial review, the strategic asset allocation, accounting standards and the new governance of the Pension Fund, were on the agendas of both meetings. At its first meeting, held at ESO in Munich, the PFGB took note of matters pending referred to it by the previous Governing Board and addressed issues relating to its own functioning and to the measures to be taken with a view to gradual implementation of the new governance principles. In the interests of continuity, it extended the terms of office of the members of the Investment Committee appointed by the Board until the new Committee is set up, as well as those of the members of the Working Group on Actuarial Matters to allow them to complete the three studies referred to in a recent issue of the Bulletin (No. 6 of 5 and 12 February 2007). At its firs...
-
2001-01-01
ORGANISATION EUROPEENNE POUR LA RECHERCHE NUCLEAIRE CERN EUROPEAN ORGANIZATION FOR NUCLEAR RESEARCH CAISSE DE PENSIONS / PENSION FUND Caisse de Pensions - ELECTIONS - Pension Fund This candidature has been duly registered and is hereby presented in accordance with paragraph 6.h of the Regulations for Elections to the Governing Board of the Pension Fund. Candidate : Name : CHIAVERI First Name : Enrico I have been a CERN staff member since 1973 and have always been interested in our working conditions. As a member of the Executive Committee of the Staff Association I participated from 1980 to 1984 in the Working Group on Pensions mandated by the CERN Council. This commitment led to my becoming a member of the Governing Board of the Pension Fund in 1983, since when I have taken an active part in various commissions and working groups (Real Estate Asset Management Committee, Working Group on Actuarial Matters etc.); in so doing I have gained a thorough knowledge of different areas of the Pension Fund. Since ...
-
2006-01-01
CERN - EUROPEAN ORGANIZATION FOR NUCLEAR RESEARCH PENSION FUND ELECTIONS - Pension Fund This candidature has been duly registered and is hereby presented in accordance with paragraph 6.h of the Regulations for Elections to the Governing Board of the Pension Fund. Candidate: First name: Michel Name: Goossens The CERN/ESO Pension Fund represents, for most staff, the sole source of income when they retire. The health of our Pension Fund is thus of the utmost importance to ensure the payment of pensions up to the death of the last beneficiary. The 2003 actuarial review showed a large deficit and several corrective measures have already been taken. The next months will see the results of the 2006 actuarial review. We hope they will show that the measures taken last year are going in the right direction. However, we must remain proactive since further measures will no doubt be necessary. New and imaginative proposals must be prepared and discussed in the widest possible forum, by regular direct contact with staf...
-
2006-01-01
CERN - EUROPEAN ORGANIZATION FOR NUCLEAR RESEARCH PENSION FUND ELECTIONS - Pension Fund This candidature has been duly registered and is hereby presented in accordance with paragraph 6.h of the Regulations for Elections to the Governing Board of the Pension Fund. Candidate: First name: Michel Name: Goossens The CERN/ESO Pension Fund represents, for most staff, the sole source of income when they retire. The health of our Pension Fund is thus of the utmost importance to ensure the payment of pensions up to the death of the last beneficiary. The 2003 actuarial review showed a large deficit and several corrective measures have already been taken. The next months will see the results of the 2006 actuarial review. We hope they will show that the measures taken last year are going in the right direction. However, we must remain proactive since further measures will no doubt be necessary. New and imaginative proposals must be prepared and discussed in the widest possible forum, by regular direct contact with staff...
-
2006-01-01
CERN - EUROPEAN ORGANIZATION FOR NUCLEAR RESEARCH PENSION FUND ELECTIONS - Pension Fund This candidature has been duly registered and is hereby presented in accordance with paragraph 6.h of the Regulations for Elections to the Governing Board of the Pension Fund. Candidate: First name: Michel Name: Goossens The CERN/ESO Pension Fund represents, for most staff, the sole source of income when they retire. The health of our Pension Fund is thus of the utmost importance to ensure the payment of pensions up to the death of the last beneficiary. The 2003 actuarial review showed a large deficit and several corrective measures have already been taken. The next months will see the results of the 2006 actuarial review. We hope they will show that the measures taken last year are going in the right direction. However, we must remain proactive since further measures will no doubt be necessary. New and imaginative proposals must be prepared and discussed in the widest possible forum, by regular direct contact ...
-
Analysis of the mutual funds and pension funds in Spain: evolution and performance
Directory of Open Access Journals (Sweden)
Mercedes Alda García
2012-06-01
Full Text Available Mutual funds and pension funds are the most important investment products in Spain. Nonetheless, it should not be confused with each other, or take them as equivalent; since the latter have also the characteristic of a long-term savings product, in order to obtain additional funds for retirement. These differences may influence the investor when deciding on one of these instruments, but also the manager, developing different management strategies.Therefore, on this paper we examine the main magnitudes of both markets in Spain. Moreover, we analyze the performance of two Spanish fund samples (one with global equity mutual funds and another with global equity pension funds with the purpose of showing if their performance is efficient, and if there are differences on their management.
-
DEFF Research Database (Denmark)
Seabrooke, Leonard; Broome, André
2006-01-01
The International Monetary Fund spends most of its time monitoring its member states' economic performance and advising on institutional change. While much of the literature sees the Fund as a policy enforcer in "emerging market" and "frontier" economies, little attention has been paid to exploring...... for change on the basis of like-characteristics among economies. Many Western states, particularly small open economies, consider the Fund's advice as important not only for technical know-how, but because Fund assessments are significant to international and domestic political audiences. This article traces...... the Fund's advice on taxation and monetary reform to two coordinated market economies, Denmark and Sweden, and two liberal market economies, Australia and New Zealand from 1975 to 2004. It maps how the Fund advocated "policy revolutions" and "policy recombinations" during this period, advice that coincided...
-
The development of funding policies for hospices: is casemix-based funding an option?
Carter, H; MacLeod, R; Hicks, E; Carter, J
1999-06-25
The 1993 health reforms, with their emphasis on the purchasing of defined amounts or units of service, have led to the implementation of casemix-based funding for the acute medical and surgical services of the public hospitals. Despite growing interest in New Zealand in casemix-based funding for non-acute services such as palliative care, the nature of this service and the characteristics of its patient population pose particular difficulties for the development and implementation of casemix. This paper examines the feasibility of implementing casemix-based funding for hospice/palliative care services and discusses the development of casemix classification systems for palliative care. Problems associated with implementing casemix-based funding are considered including: the dual funding of hospices, the multi-agency nature of palliative care service provision and the need for the Health Funding Authority to identify and specify the hospice services it is willing to fund. While it is concluded that these problems will impede the introduction of casemix-based funding of hospice care, they highlight important issues that the hospice movement must address if it is to ensure its future within the new health environment.
-
DEFF Research Database (Denmark)
Ahrends, Antje; Burgess, Neil David; Gereau, Roy E.
2011-01-01
Aim Effective conservation of biodiversity relies on an unbiased knowledge of its distribution. Conservation priority assessments are typically based on the levels of species richness, endemism and threat. Areas identified as important receive the majority of conservation investments, often...... facilitating further research that results in more species discoveries. Here, we test whether there is circularity between funding and perceived biodiversity, which may reinforce the conservation status of areas already perceived to be important while other areas with less initial funding may remain overlooked......, and variances decomposed in partial regressions. Cross-correlations are used to assess whether perceived biodiversity drives funding or vice versa. Results Funding explained 65% of variation in perceived biodiversity patterns – six times more variation than accounted for by 34 candidate environmental factors...
-
Jenkins, Davis; Shulock, Nancy
2013-01-01
The Student Achievement Initiative (SAI), adopted by the Washington State Board for Community and Technical Colleges in 2007, is one of a growing number of performance funding programs that have been dubbed "performance funding 2.0." Unlike previous performance funding models, the SAI rewards colleges for students' intermediate…
-
Daníelsson, J.; Zigrand, JP.
2007-01-01
Due to the ever-increasing amounts under management and their unregulated and opaque nature, hedge funds have emerged as a key concern for policymakers. While until now, hedge funds have been left essentially unregulated, we are seeing increasing calls for regulation for both microprudential and macroprudential reasons. In our view, most calls for the regulation of hedge funds are based on a misperception of the effectiveness of financial regulations, perhaps coupled with a lack of understand...
-
Mutual Fund Flight-to-Liquidity
DEFF Research Database (Denmark)
Rzeznik, Aleksandra
This paper examines the liquidity choices of mutual funds during times of market uncertainty. I find that when markets are uncertain, mutual funds actively increase the liquidity of their portfolio – often referred to as a ‘flight-to-liquidity.’ In aggregate, mutual fund behaviour has implications...... for the market; the market driven flight-toliquidity places upward pressure on the liquidity premium. I examine the underlying mechanisms driving fund behaviour. I show that market volatility is associated with lower fund performance and withdrawals, which causes funds to adjust the composition...... of their portfolio towards more liquid assets in order to meet potential redemptions. This causal chain is consistent with Vayanos (2004), who argues that fund managers are investors with time-varying liquidity preferences due to threat of withdrawal. Aggregated over funds, the effect is substantial: a one standard...
-
Mutual Fund Flight-to-Liquidity
DEFF Research Database (Denmark)
Rzeznik, Aleksandra
This paper examines the liquidity choices of mutual funds during times of market uncertainty. I find that when markets are uncertain, mutual funds actively increase the liquidity of their portfolio { often referred to as a `flight-to-liquidity.' In aggregate, mutual fund behaviour has implications...... for the market; the market driven flight-toliquidity places upward pressure on the liquidity premium. I examine the underlying mechanisms driving fund behaviour. I show that market volatility is associated with lower fund performance and withdrawals, which causes funds to adjust the composition...... of their portfolio towards more liquid assets in order to meet potential redemptions. This causal chain is consistent with Vayanos (2004), who argues that fund managers are investors with time-varying liquidity preferences due to threat of withdrawal. Aggregated over funds, the effect is substantial: a one standard...
-
Importance of the fund management company in the performance of socially responsible mutual funds
Belghitar, Yacine; Clark, Ephraim; Deshmukh, Nitin
2017-01-01
We compare the performance of a sample of U.K.-based socially responsible investment (SRI) funds with similar conventional funds using a matched-pair analysis based on size, age, investment universe, and fund management company (FMC). We find that both the SRI and conventional funds outperform the market index about 50% of the time, even after fees. Subsample tests show that the SRI funds in our sample perform better in the pre- and postfinancial crisis periods but underperform during the fin...
-
International Nuclear Information System (INIS)
Rosselli, R.
1984-01-01
The Nuclear Waste Policy Act of 1982 (NWPA) established two separate special bank accounts: the Nuclear Waste Fund (NWF) was established to finance all of the Federal Government activities associated with the disposal of High-Level Waste (HLW) or Spent Nuclear Fuel (SNF). The Interim Storage Fund (ISF) is the financial mechanism for the provision of Federal Interim Storage capacity, not to exceed 1900 metric tons of SNF at civilian power reactors. The management of these funds is discussed. Since the two funds are identical in features and the ISF has not yet been activated, the author's remarks are confined to the Nuclear Waste Fund. Three points discussed include legislative features, current status, and planned activities
-
Identification of liabilities and long-term management of the fund in Hungary
International Nuclear Information System (INIS)
Czoch, Ildiko
2003-01-01
submittals prepared by the Public Agency for Radioactive Waste Management and approved by the Hungarian Atomic Energy Authority and by the Hungarian Energy Office. The payments of the Paks Nuclear Power Plant should be taken into account when determining the price of electric energy. The institutes disposing radioactive waste in the Radioactive Waste Treatment and Disposal Facility are also liable to contribute to the Fund according to a price list contained in a Ministerial Decree. For nuclear installations financed from the central budget (research reactor and training reactor), the sources required to cover the payment into the Fund are provided by the central budget, when they arise. The rate of payments into the Fund shall be specified in a way to provide appropriate sources for all costs of radioactive waste and spent fuel management and the decommissioning of nuclear facilities. These sources provide also coverage for the public control and information activities, as well as for the operational expenses of the existing repository. In order to ensure that the Fund maintains its value, the Government contributes to the Fund with a sum, calculated on the average assets of the Fund in the previous year using the average base interest rate of the central bank in the previous year. This practice was interrupted for 2001-2002, but now it is restored again as of 2003. By the end of 2002 there was 32.7 Mrd HUF in the Central Nuclear Financial Fund
-
HR Department
2008-01-01
The 2007 Annual Report and Accounts of the Pension Fund which was approved by Council at its session of 20 June 2008, is now available from the Departmental secretariats. Pension beneficiaries who wish to obtain this document should contact Emilie Clerc (Tel. + 41 22 767 87 98), building 5-5/017. It is also available on the Pension fund site: http://pensions.web.cern.ch/Pensions/
-
An Empirical Study of Mutual Fund Performance and Its Relation with Fund Size
Lu, Daofen
2007-01-01
The increasing popularity of mutual fund investment is a remarkable phenomenon of recent decades. Mutual funds have been among the largest investors and played an important role in the financial market worldwide. The evaluation of mutual fund performance has been achieving a great deal of academic interest since the 1960s. This study employed a time-series data to examine the performance of sixty actively-managed equity growth funds of the United States during the period of July, 2002 to June...
-
COLLOID-FACILITATED TRANSPORT OF RADIONUCLIDES THROUGH THE VADOSE ZONE
International Nuclear Information System (INIS)
Flury, Markus
2003-01-01
Contaminants have leaked into the vadose zone at the USDOE Hanford reservation. It is important to understand the fate and transport of these contaminants to design remediation strategies and long-term waste management plans at the Hanford reservation. Colloids may play an important role in fate and transport of strongly sorbing contaminants, such as Cs or Pu. This project seeks to improve the basic understanding of colloid and colloid-facilitated transport of contaminants in the vadose zone. The specific objectives addressed are: (1) Determine the structure, composition, and surface charge characteristics of colloidal particles formed under conditions similar to those occurring during leakage of waste typical of Hanford tank supernatants into soils and sediments surrounding the tanks. (2) Characterize the mutual interactions between colloids, contaminant, and soil matrix in batch experiments under various ionic strength and pH conditions. We will investigate the nature of the solid-liquid interactions and the kinetics of the reactions. (3) Evaluate mobility of colloids through soil under different degrees of water saturation and solution chemistry (ionic strength and pH). (4) Determine the potential of colloids to act as carriers to transport the contaminant through the vadose zone and verify the results through comparison with field samples collected under leaking tanks. (5) Improve conceptual characterization of colloid-contaminant-soil interactions and colloid-facilitated transport for implementation into reactive chemical transport models. This project was in part supported by an NSF-IGERT grant to Washington State University. The IGERT grant provided funding for graduate student research and education, and two graduate students were involved in the EMSP project. The IGERT program also supported undergraduate internships. The project is part of a larger EMSP program to study fate and transport of contaminants under leaking Hanford waste tanks. The project has
-
Performance-Based Funding Brief
Washington Higher Education Coordinating Board, 2011
2011-01-01
A number of states have made progress in implementing performance-based funding (PFB) and accountability. This policy brief summarizes main features of performance-based funding systems in three states: Tennessee, Ohio, and Indiana. The brief also identifies key issues that states considering performance-based funding must address, as well as…
-
2010-04-01
... Internet or other electronic media. (b) Local funding sources. HUD recommends that approved agencies seek and secure funding from funding sources that may include local and state governments, private... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Funding. 214.311 Section 214.311...
-
Hedge Fund Contagion and Liquidity
Nicole M. Boyson; Christof W. Stahel; Rene M. Stulz
2008-01-01
Using hedge fund indices representing eight different styles, we find strong evidence of contagion within the hedge fund sector: controlling for a number of risk factors, the average probability that a hedge fund style index has extreme poor performance (lower 10% tail) increases from 2% to 21% as the number of other hedge fund style indices with extreme poor performance increases from zero to seven. We investigate how changes in funding and asset liquidity intensify this contagion, and find ...
-
Understaning the "funding effect"
Oreskes, N.
2016-12-01
There is a long history of industry funding of scientific and engineering research in the USA. Much of this work has been of high quality. Research demonstrates, however, that corporate funding can represent a threat to scientific independence and integrity. Studies show that sponsors' interests can affect research results, particularly when sponsors have a strong interest in a particular research outcome. The effects may occur through the impact of subconscious bias on sampling, study design, data interpretation, and/or reporting of results. Corporate funding can also skew research toward investigating certain questions at the expense of others, downplaying the significance of adverse findings, and/or failing to report adverse results. Gifts can affect behavior, even when they are unrelated to research activities. These impacts that are so substantial that they have a name: "the funding effect."[i] Evidence shows that scientists who strive to be objective and fair-minded may nonetheless fall prey to the funding effect. In many cases, the challenges of corporate gifts and funding can be addressed through education and improved self-awareness, agreements that protect researchers' freedom to publish without sponsor approval, sensible disclosure policies, and reasonable sanctions for failures of disclosure. However, in some cases, it may be appropriate for researchers and scientific societies to decline funding.
-
A model to compare a defined benefit pension fund with a defined contribution provident fund
Directory of Open Access Journals (Sweden)
J.M. Nevin
2003-12-01
Full Text Available During 1994 universities and certain other institutions were given the option of setting up private retirement funds as an alternative to the AIPF. Because of the underfundedness of the AIPF only a substantially reduced Actuarial Reserve Value could be transferred to the new fund on behalf of each member. Employees at these institutions had to make the difficult decision of whether to remain a member of the AIPF or to join a new fund. Several institutions created defined contribution funds as an alternative to the AIPF. In such funds the member carries the investment risk and most institutions felt the need to provide some form of top-up of the Transfer Value. A simple mathematical model is formulated to aid in the comparison of expected retirement benefits under the AIPF and a private fund and to investigate the management problem of distributing additional top-up funds in a fair manner amongst the various age groups within the fund.
-
2004-01-01
Amendment No 20 to the Rules and Regulations of the Pension Fund has just been published and can be obtained from Department/Unit secretariats or, in the case of pensioners, directly from the Administration of the Fund (tel. 767-91 94/27 38), bldg 5, 1-030. This Amendment, which entered into force on 1.1.2004, concerns the fixed sums and allowances adjusted at same date (Annex B).
-
Funding strategies for wilderness management
Carolyn Alkire
2000-01-01
Funding wilderness protection will continue to be a challenge for public land managers. With continuing competition for federal funds and balanced budget goals, other sources of funds may be necessary to supplement annual federal appropriations. This paper identifies and evaluates five potential funding strategies and provides examples of each that are currently in use...
-
Essential Not Optional: A Strategic Approach to Fund-Raising for Endowments
Griswold, John S.; Jarvis, William F.
2012-01-01
This overview of the state of endowment giving comes at a time of urgent need in the nonprofit sector. With market returns uncertain, and spending restraint difficult, the moderate but measurable increase in donations in the previous year invites institutions to consider elevating fund-raising to a more strategic position within the organization.…
-
Governing Board of the Pension Fund
2004-01-01
The Governing Board of the Pension Fund held its one-hundred-and-twenty-seventh meeting on 4, 5 and 6 October. During the meeting, the Governing Board heard a report by the actuary on the Actuarial Review as at 1 January 2004. The Governing Board then examined the conclusions to be drawn and the action to be taken as a result of the Review. During its first half-day meeting the Board heard a report on the meetings of the CERN Finance Committee and Council on 15 and 16 September. As a result, the Board asked its Chairman to consult the President of the CERN Council in order to find out about the terms of reference and the composition of the working group on pensions set up by the Council. Next the Board examined a request for compensation to the Fund for the reduction in active members between 2001 and 2003. It was the third such request which the Governing Board would be making to the CERN Council following the latter's 1995 decision to reduce staff numbers. The request related to the previous three years (...
-
Ruan, Qing Zhao; Cohen, Justin B; Baek, Yoonji; Chen, Austin D; Doval, Andres F; Singhal, Dhruv; Fukudome, Eugene Y; Lin, Samuel J; Lee, Bernard T
2018-04-01
Scholastic productivity has previously been shown to be positively associated with National Institute of Health (NIH) grants and industry funding. This study examines whether society, industry, or federal funding contributes toward academic productivity as measured by scholastic output of academic plastic surgeons. Institution Web sites were used to acquire academic attributes of full-time academic plastic surgeons. The Center for Medicare and Medicaid Services Open Payment database, NIH reporter, the Plastic Surgery Foundation (PSF), and American Association of Plastic Surgeons (AAPS) Web sites were accessed for funding and endowment details. Bibliometric data of each surgeon were then collected via Scopus to ascertain strengths of association with each source. Multiple linear regression analysis was used to identify significant contributors to high scholastic output. We identified 935 academic plastic surgeons with 94 (10.1%), 24 (2.6%), 724 (77.4%), and 62 (6.6%) receiving funding from PSF, AAPS, industry, and NIH, respectively. There were positive correlations in receiving NIH, PSF, and/or AAPS funding (P funding was found to negatively associate with PSF (r = -0.75, P = 0.022) grants. The NIH R award was consistently found to be the most predictive of academic output across bibliometrics, followed by the AAPS academic scholarship award. Conventional measures of academic seniority remained predictive across all measures used. Our study demonstrates for the first time interactions between industry, federal, and association funding. The NIH R award was the strongest determinant of high scholastic productivity. Recognition through AAPS academic scholarships seemed to associate with subsequent success in NIH funding.
-
Funding Mechanisms, Cost Drivers, and the Distribution of Education Funds in Alberta: A Case Study.
Neu, Dean; Taylor, Alison
2000-01-01
Critical analysis of historical financial data of the Calgary Board of Education (CBE) examined the impact of Alberta's 1994 funding changes on the CBE and the distribution of Alberta's education funding. Findings illustrate how funding mechanisms are used to govern from a distance and how seemingly neutral accounting/funding techniques function…
-
SOGIN Decommissioning strategy and funding (Italy)
International Nuclear Information System (INIS)
2006-01-01
Statement: In Italy, as it is well known, there are no more operational NPPs. The four existing nuclear plants are definitely shutdown and ready for decommissioning. Considerations on decommissioning funding system have to take into account this particular situation. Strategy for decommissioning: New inputs given to SOGIN by the Italian Government are: conditioning all radioactive waste existing on the NPPs within the year 2010, release all nuclear sites - free of radiological constraints - by 2020. The last task is conditioned by availability of the national waste repository by the year 2009. Strategy for decommissioning: Key issue is prompt dismantling considering No more nuclear activities in Italy and Progressive loss of competencies. Previously Existing funds: Before plant shutdown, ENEL has cumulated provisions for decommissioning, even in absence of a clear regulatory framework. These provisions were not sufficient for decommissioning, considering the early closure of the plants. An additional fund was granted to ENEL by the government, in the form of a 'credit' to be paid by the 'electric system' (CCSE). This fund (provisions + credit) was considered sufficient by ENEL for a decommissioning with Safe Store strategy (fund = discounted foreseen costs). The total fund (provisions + credit) was assigned to Sogin at the incorporation date. The amount, money 1999, was about 800 M euros. Considering the new context: new strategy (Prompt Dismantling with site release by 2020), Sogin constitution (societal costs), new economic conditions. The fund was not considered sufficient for all Sogin tasks. This conclusion was agreed upon also by the independent 'Authority for electric energy and gas'. A new regulatory framework was therefore defined. Regulatory aspects: The Legislative Decree 79/99 has stated that costs for the decommissioning of NPP, fuel cycle back end and related activities should be considered as stranded costs for the general electric system. The same
-
Sources of funding for community schemes
Energy Technology Data Exchange (ETDEWEB)
NONE
1999-11-01
There is an increasing level of interest amongst community groups in the UK to become involved in the development of renewable energy schemes. Often however these community groups have only limited funds of their own, so any additional funds that can be identified to help fund their renewable energy scheme can be very useful. There are a range of funding sources available that provide grants or loans for which community groups are eligible to apply. Few of these funding sources are targeted towards renewable energy specifically, nevertheless the funds may be applicable to renewable energy schemes under appropriate circumstances. To date, however, few of these funds have been accessed by community groups for renewable energy initiatives. One of the reasons for this low take-up of funds on offer could be that the funding sources may be difficult and time-consuming to identify, especially where the energy component of the fund is not readily apparent. This directory draws together details about many of the principal funding sources available in the UK that may consider providing funds to community groups wanting to develop a renewable energy scheme. (author)
-
Risk analytics for hedge funds
Pareek, Ankur
2005-05-01
The rapid growth of the hedge fund industry presents significant business opportunity for the institutional investors particularly in the form of portfolio diversification. To facilitate this, there is a need to develop a new set of risk analytics for investments consisting of hedge funds, with the ultimate aim to create transparency in risk measurement without compromising the proprietary investment strategies of hedge funds. As well documented in the literature, use of dynamic options like strategies by most of the hedge funds make their returns highly non-normal with fat tails and high kurtosis, thus rendering Value at Risk (VaR) and other mean-variance analysis methods unsuitable for hedge fund risk quantification. This paper looks at some unique concerns for hedge fund risk management and will particularly concentrate on two approaches from physical world to model the non-linearities and dynamic correlations in hedge fund portfolio returns: Self Organizing Criticality (SOC) and Random Matrix Theory (RMT).Random Matrix Theory analyzes correlation matrix between different hedge fund styles and filters random noise from genuine correlations arising from interactions within the system. As seen in the results of portfolio risk analysis, it leads to a better portfolio risk forecastability and thus to optimum allocation of resources to different hedge fund styles. The results also prove the efficacy of self-organized criticality and implied portfolio correlation as a tool for risk management and style selection for portfolios of hedge funds, being particularly effective during non-linear market crashes.
-
Securing decommissioning funds. Why organization matters?
International Nuclear Information System (INIS)
Tchapga, F.
2005-01-01
Full text: Securing decommissioning funds requires that the financial resources set aside for the purpose of decommissioning be managed prudently. Decommissioning of nuclear power plant is prescribed by National Atomic Laws or by other nuclear legislation. It is a mandatory operation. The operators of nuclear power plants set money aside for that purpose. This is known as 'Decommissioning reserve fund'. Decommissioning implies costs very distant in time. Thus, it is obvious, from an economic point of view, that the funds set aside should be managed. As decommissioning is mandatory, the funds accumulated should be secured. In others words, they should be available when needed. Availability of funds is influenced by endogenous and exogenous factors. Endogenous factors are a matter of design of the reserve funds. They include the management of the funds, its monitoring and control... Availability of funds is influenced by these factors, depending on the rules to which the behaviour of the manager of the funds is subjected. In contrast, exogenous factors deal with the energy context. These factors are mainly the electricity sector organisation and/or the overall economic situation. They are decisive factors of the economic performance of the reserve fund for a given design. Therefore, the requirement of availability of funds, when needed, is a matter of compatibility between the design of the decommissioning funds and the electricity context. Put differently, reserve fund's design need to be consistent with the electricity context's features in respect of the availability of funds. Current reserve funds were designed in a context of monopoly regime. In this context, availability of decommissioning funds was not questionable. At least, as far as the design of the reserve funds is concerned. This is because nuclear generator didn't confront any competition pressure. Electricity prices were set trough rate base mechanism, and all the business risks were borne by the
-
25 CFR 47.11 - Can these funds be used as matching funds for other Federal programs?
2010-04-01
... EDUCATION UNIFORM DIRECT FUNDING AND SUPPORT FOR BUREAU-OPERATED SCHOOLS § 47.11 Can these funds be used as matching funds for other Federal programs? A Bureau-operated school may use funds that it receives under...
-
Public Funding of Political Parties
DEFF Research Database (Denmark)
Ortuno-Ortin, Ignacio; Schultz, Christian
This paper concerns public funding of parties. Parteis receive public funds depending on their vote share. Funds finance electoral campaigns. Two cases are investigated. In the first, some voters are policy motivated and some are ?impressionable? ? their vote depends directly on campaign...... expenditures. In the second, campaigning is informative and all voters are policy motivated. Public funds increase policy convergence in both cases. The effect is larger, the more funding depends on vote shares. When campaigns are informative, there may be multiple euqilibria. Intuitively, a large party can...
-
Optimal distribution of science funding
Huang, Ding-wei
2018-07-01
We propose a new model to investigate the theoretical implications of a novel funding system. We introduce new parameters to model the accumulated advantage. We assume that all scientists are equal and follow the same regulations. The model presents three distinct regimes. In regime (I), the fluidity of funding is significant. The funding distribution is continuous. The concentration of funding is effectively suppressed. In both regimes (II) and (III), a small group of scientists emerges as a circle of elites. Large funding is acquired by a small number of scientists.
-
2010-04-01
... considered an affordable housing activity? 1000.122 Section 1000.122 Housing and Urban Development... Housing Activities § 1000.122 May NAHASDA grant funds be used as matching funds to obtain and leverage...
-
AN ANALYSIS OF FUNDING DECISIONS FOR NICHE AGRICULTURAL PRODUCTS
HOWARD VAN AUKEN; SHAWN CARRAHER
2012-01-01
This paper examines the flow of funds from providers of capital to niche agricultural users of capital. Various programs through the US government, state/local economic development and private agencies work to improve the flow of capital to the niche agricultural sector. However, despite the expansion of programs aimed at providing financial resources to the agricultural sector, many sectors remain poorly served. Previous studies have suggested that agencies need to facilitate the flow of cap...
-
Millimeter-Wave Measurements of High Level and Low Level Activity Glass Melts
International Nuclear Information System (INIS)
Woskov, Paul
2005-01-01
EMSP supported research of millimeter-wave technology for nuclear waste glass melter monitoring has been very productive in establishing this field and showing great progress. This work has garnered significant recognition, winning an R and D 100 Award for viscosity monitoring, a Best Paper Award by the American Ceramic Society for nuclear waste glass monitoring, investment by the Glass Plus industry consortium to test this technology for glass fiber manufacture, investment by Savannah River Technology Center in purchasing key hardware components for additional tests, and Japanese initiated exchange visits between MIT and the vitrification facilities at Japanese Atomic Energy Research Institute (JAERI) in Tokai to review this technology. There are also potentially important spin offs to other areas including nuclear and fossil fuel power production, and National Institute of Health sponsored research as indicated below. Consequently, this work has the potential of becoming a major inter nationally recognized EMSP success story. A summary of the main accomplishments follows. The readers are referred to the cited reference publications for more details, many of which were EMSP supported by this work
-
Directory of Open Access Journals (Sweden)
HAKAN SARITAŞ
2013-06-01
Full Text Available Proponents of the efficient market hypothesis believe that active portfolio management is largely wasted effort and unlikely to justify the expenses incurred. Therefore, they advocate a passive investment strategy that makes no attempt to outsmart the market. One common strategy for passive management is indexing where a fund is designed to replicate the performance of a broad-based index of stocks and bonds. Traditionally, indexing was used by institutional investors, but today, the use of index funds proliferated among individual investors. Over the years, both international and domestic index funds have disproportionately outperformed the market more than the actively managed funds have.
-
12 CFR 615.5010 - Funding Corporation.
2010-01-01
... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Funding Corporation. 615.5010 Section 615.5010... POLICIES AND OPERATIONS, AND FUNDING OPERATIONS Funding § 615.5010 Funding Corporation. (a) The Funding Corporation shall issue, market, and handle the obligations of the banks issued under section 4.2(b) through...
-
Directory of Open Access Journals (Sweden)
Younghwan Moon
2018-05-01
Full Text Available The research and development as well as the propagation of sustainable, appropriate technology requires the availability of stable funding. Crowdfunding is a form of funding whereby small sums of investments or contributions are collected from the general public and used to finance the development of goods or services. This method has been widely used in the arts and cultural fields and presents a useful alternative means by which to fund appropriate technology projects. The aim of this study is to identify the factors that influence backers who participate in appropriate technology projects through crowdfunding platforms, analyze the connections among these factors, and thereby establish the usefulness of crowdfunding as a viable new funding alternative. Results indicate that the key factors influencing user intention to crowdfund appropriate technology projects include social influence, effort expectancy, and perceived trust. In comparison to the findings of previous studies, performance expectancy was not found to have a significant effect. When compared to crowdfunding conducted in other fields, these results suggest that crowdfunding for appropriate technology is closer in nature to donations. Accordingly, for funding of these projects to be successful, aggressive online exposure using the social network service (SNS of backers should be pursued from the earliest stages of funding.
-
Risk Management Framework for Hedge Funds: Role of Funding and Redemption Options on Leverage
Dai, John; Sundaresan, Suresh
2009-01-01
We develop a model of hedge fund returns, which reflect the contractual relationships between a hedge fund, its investors and its prime brokers. These relationships are modelled as short option positions held by the hedge fund, wherein the “funding option” reflects the short option position with prime brokers and the “redemption option” reflects the short option position with the investors. Given an alpha producing human capital, the hedge fund’s ability to deploy leverage to magnify its alph...
-
Cool, David W.
1983-01-01
Addresses the need of school districts in many states to decide on an appropriate mingling of centralization and decentralization in the operation of activity funds. Argues for analysis of activity fund operation through a breakdown into such major components as policy, the accounting system, and reporting and auditing. (JBM)
-
Billingsley, Christina
2011-01-01
Western Michigan University has designed an innovative "Quasi-Revolving Fund" model that demonstrates the institution's full commitment to incorporating sustainability into campus operations. The Quasi-Revolving Fund recaptures money from cost-savings, similar to a typical green revolving fund, but it also sources capital from the…
-
Stephani, Victor; Sommariva, Silvia; Spranger, Anne; Ciani, Oriana
2017-10-02
Evidence shows that territorial borders continue to have an impact on research collaboration in Europe. Knowledge of national research structural contexts is therefore crucial to the promotion of Europe-wide policies for research funding. Nevertheless, studies assessing and comparing research systems remain scarce. This paper aims to further the knowledge on national research landscapes in Europe, focusing on non-communicable disease (NCD) research in Italy and Germany. To capture the architecture of country-specific research funding systems, a three-fold strategy was adopted. First, a literature review was conducted to determine a list of key public, voluntary/private non-profit and commercial research funding organisations (RFOs). Second, an electronic survey was administered qualifying RFOs. Finally, survey results were integrated with semi-structured interviews with key opinion leaders in NCD research. Three major dimensions of interest were investigated - funding mechanisms, funding patterns and expectations regarding outputs. The number of RFOs in Italy is four times larger than that in Germany and the Italian research system has more project funding instruments than the German system. Regarding the funding patterns towards NCD areas, in both countries, respiratory disease research resulted as the lowest funded, whereas cancer research was the target of most funding streams. The most reported expected outputs of funded research activity were scholarly publication of articles and reports. This cross-country comparison on the Italian and German research funding structures revealed substantial differences between the two systems. The current system is prone to duplicated research efforts, popular funding for some diseases and intransparency of research results. Future research will require addressing the need for better coordination of research funding efforts, even more so if European research efforts are to play a greater role.
-
Energy Laboratory (NREL) announced today that it will further reduce its work force as a result of million. Recent indications, however, are that NREL's funding will be lowered by an additional $27 million employees. NREL Director Charles F. Gay said the additional funding cuts are a result of lower than expected
-
Managerial multitasking in the mutual fund industry
Agarwal, Vikas; Ma, Linlin; Mullally, Kevin
2015-01-01
We examine the determinants and consequences of mutual fund managers simultaneously managing multiple funds. Well-performing managers multitask by taking over poorly performing funds or launching new funds. Subsequent to multitasking, funds run by managers prior to multitasking (i.e., incumbent funds) experience performance deterioration while the performance of the acquired funds improves. Multitasking increases the assets of fund companies but results in a wealth transfer from shareholders ...
-
25 CFR 170.614 - Can a tribe receive funds before BIA publishes the notice of funding availability?
2010-04-01
... 25 Indians 1 2010-04-01 2010-04-01 false Can a tribe receive funds before BIA publishes the notice... Contracts and Agreements Under Isdeaa § 170.614 Can a tribe receive funds before BIA publishes the notice of funding availability? A tribe can receive funds before BIA publishes the notice of funding availability...
-
MEANS OF ESTABLISHING CHURCH PROPERTY AND FUNDING SOURCES
Directory of Open Access Journals (Sweden)
Cricovean Mircea
2013-07-01
Regarding the administration of goods, the Church finds guidance in the laws of the State to which it belongs (Stan, 1952 but taking into consideration the fact that the Church cannot “have its special principles and rules contradicted”(Floca, 1990: 448. However, the church, in fulfilling its purpose - the salvation of believers, needs wealth or heritage. This is not to understand that the Church can “lose its essential character, supernatural character, because, for the Church the earthly possessions and temporal happiness are not an immediate end” (Floca, 1990: 451-452. To understand the Church’s sources of financing it is necessary to take account of its properties. Along the time the church was holder of ownership rights. Its property had to be maintained, at least, so it needed funding. The Church’s canonical and statutory provisions are those governing the Church’s source of funding. They cannot conclusively be understood without observing the principles and rules specific for the ecclesiastical wealth management. Noted should be that previously there were no generally accepted rules on the management of financial resources of the church. The canonical, legal and statutory establishments have become customary in time, making it possible this way, by the dioceses supervisors, that sources of funding should be directed towards the maintenance of the Church, of the worship and of social activities.
-
Middlemist, George Edward
2017-01-01
During the 2004 legislative session, the Colorado General Assembly enacted Senate Bill 189 (SB189), which established the first system of college vouchers in the United States. The supporters of SB189 hoped that the voucher system, called the College Opportunity Fund (COF), would: 1) stabilize the flow of state funding to higher education; 2)…
-
2004-01-01
The Governing Board of the Pension Fund held its one-hundred-and-twenty-second meeting on 3 February 2004. Opening the meeting, the Chairman, J. Bezemer, welcomed W. Zapf's alternate T. Lagrange, A. Naudi's alternate P. Geeraert, and M. Goossens' alternate M. Vitasse, who were attending the Governing Board for the first time. The Governing Board heard a report from its Chairman on the meeting of the CERN Council on 19 December 2003, at which, under Pension Fund matters, the Council had approved a pensions adjustment of 0.7%. The Governing Board then heard a report on the main elements of the Investment Committee's meeting on 3 December 2003. During a presentation, Expert Timing System (Madrid) and the Compagnie de Trésorerie Benjamin de Rothschild (Geneva) had proposed a bond portfolio investment following the same quantitative investment principles as the equities portfolio they already managed for the Fund. After some deliberation, the Investment Committee had decided, on that basis, to award t...
-
PERFORMANCE EVALUATION OF TURKISH TYPE A MUTUAL FUNDS AND PENSION STOCK FUNDS BY USING TOPSIS METHOD
Directory of Open Access Journals (Sweden)
Nesrin ALPTEKIN
2009-07-01
Full Text Available In this paper, it is evaluated performance of Turkish Type A mutual funds and pension stock funds by using TOPSIS method which is a multicriteria decision making approach. Both of these funds compose of stocks in their portfolios, so it can be enabled to compare each other. Generally, mutual or pension funds are evaluated according to their risk and return. At this point, it is used traditional performance measurement techniques of funds like Sharpe ratio, Sortino ratio, Treynor index and Jensen’s alpha. TOPSIS method takes into consideration all of these fund performance measurement techniques and provides more reasonable performance measurement.
-
Funding Decommissioning - UK Experience
International Nuclear Information System (INIS)
MacKerron, Gordon
2006-01-01
'Funding' started with CEGB and SSEB (state-owned electric utilities) in 1976 using the internal un-segregated fund route (i.e unfunded). This continued until privatisation of electricity industry (excluding nuclear) in 1990. Assets bought with the internal un-segregated fund were mostly transferred into non-nuclear private utilities. New state-owned Nuclear Electric (England and Wales) was given a 'Fossil Fuel Levy', a consumer charge of 10% on retail bills, amounting to c. BP 1 bn. annually. This allowed Nuclear Electric to trade legally (A reserve of BP 2.5 bn. was available from Government if company ran out of money). By 1996 the newer nuclear stations (AGRS plus PWR) were privatised as British Energy. British Energy started an external segregated fund, the Nuclear Decommissioning Fund, with a starting endowment of c. BP 225 m. - and BE made annual contributions of British Pound 16 m. into the Fund. Assumptions were that BE had 70 to accumulate cash and could get a 3.5% average annual real return. Older stations (Magnox) were left in private sector and went to BNFL in 1997. Magnox inherited the surplus cash in BE - mostly unspent Fossil Fuel Levy receipts - of c. BP 2.6 bn. Government gave an 'Undertaking' to pay BP 3.8 bn. (escalating at 4.5% real annually) for Magnox liabilities, should Magnox Electric run out of cash. BNFL inherited the BP 2.6 bn. and by 2000 had a 'Nuclear Liabilities Investment Portfolio' of c. BP 4 bn. This was a quasi-segregated internal fund for liabilities in general. [Note: overall UK nuclear liabilities in civilian sector were running at c. BP 48 bn. by now]. BE started profitable and paid BP 100 m. annually in dividends to private investors for several years. BE ran into severe financial problems after 2001 and Government organised restructuring aid, now approved by European Commission. Terms include: - BE now to contribute BP 20 m. a year into an expanded Nuclear Liabilities Fund; - A bond issue of BP 275 m. to go to Fund; - 65
-
Investible benchmarks & hedge fund liquidity
Freed, Marc S; McMillan, Ben
2011-01-01
A lack of commonly accepted benchmarks for hedge fund performance has permitted hedge fund managers to attribute to skill returns that may actually accrue from market risk factors and illiquidity. Recent innovations in hedge fund replication permits us to estimate the extent of this misattribution. Using an option-based model, we find evidence that the value of liquidity options that investors implicitly grant managers when they invest may account for part or even all hedge fund returns. C...
-
Staff Association
2011-01-01
The composition of the Board of the Mutual Aid Fund for 2011 is as follows: President: Pascal Droux Vice-president: Connie Potter Treasurer: Louis Pereira Deputy treasurer: Barbara Brugger Secretary: Sonia Casenove Deputy secretary: Isabelle Mardirossian Members: Christopher David Thomas Jean-Claude Vialis (GAC member) Marie-Luce Falipou Gunilla Santiard (Jean-Claude Vialis’s alternate) The role of the Fund is to provide financial help to members of personnel and beneficiaries of the Pension Fund who are in need of exceptional financial assistance. All requests are treated in the strictest confidence. Should you wish to apply for aid from the Fund, kindly contact any member of the Board as given above or Social Services, tel.74479 – 73867.
-
Funding Ohio Community Colleges: An Analysis of the Performance Funding Model
Krueger, Cynthia A.
2013-01-01
This study examined Ohio's community college performance funding model that is based on seven student success metrics. A percentage of the regular state subsidy is withheld from institutions; funding is earned back based on the three-year average of success points achieved in comparison to other community colleges in the state. Analysis of…
-
Bitter Sweetness For Fund Managers
Institute of Scientific and Technical Information of China (English)
2007-01-01
An influx of small investors eager to earn money puts heavy pressure on fund managers Fund managers control millions in capital and call the shots in the stock market. They can make a fortune from a single judgment. The debut of fund management operation
-
IMPORTANT COMMUNICATION: Pension Fund elections - Cancellation of the current voting procedure
2004-01-01
As you are aware, voting is currently under way for the election of two members and two alternates to the Governing Board of the Pension Fund. To this end, all members of the Pension Fund have recently received ballot papers. To ensure fair process, the Regulations for elections of the Pension Fund prescribe that all candidates standing for election must be given an equal amount of publicity space in the Weekly Bulletin to introduce themselves. Accordingly, as on previous occasions, each of the four candidates for this year's elections was granted a slot in the Weekly Bulletins of 11 October and 1 November 2004. While voting was already in process, a flash was published by the Staff Association, endorsing one of the four candidates and inviting members to vote for that particular person only. Thus, one candidate received substantial additional publicity compared to the other three candidates. The matter was raised at the meeting of the Governing Board of 2 November and the Board decided that the ...
-
HR Department
2007-01-01
The CERN Pension Fund has moved to new offices on the 5th floor of Building 5. The Benefits Service of the Fund is now located in Offices 5-5-017 - 5-5-021 - 5-5-023. We remind you that the office hours are: Tuesday/Wednesday/Thursday from 10 am to 12 am and from 3 pm to 5 pm. The Fund would like to take this opportunity to warmly thank all the persons involved in the relocation.
-
28 CFR 23.30 - Funding guidelines.
2010-07-01
... 28 Judicial Administration 1 2010-07-01 2010-07-01 false Funding guidelines. 23.30 Section 23.30 Judicial Administration DEPARTMENT OF JUSTICE CRIMINAL INTELLIGENCE SYSTEMS OPERATING POLICIES § 23.30 Funding guidelines. The following funding guidelines shall apply to all Crime Control Act funded...
-
Antioch, K M; Walsh, M K; Anderson, D; Wilson, R; Chambers, C; Willmer, P
1998-01-01
The Victorian Department of Human Services has developed a classification and funding model for non-admitted radiation oncology patients. Agencies were previously funded on an historical cost input basis. For 1996-97, payments were made according to the new Non-admitted Radiation Oncology Classification System and include four key components. Fixed grants are based on Weighted Radiation Therapy Services targets for megavoltage courses, planning procedures (dosimetry and simulation) and consultations. The additional throughput pool covers additional Weighted Radiation Therapy Services once targets are reached, with access conditional on the utilisation of a minimum number of megavoltage fields by each hospital. Block grants cover specialised treatments, such as brachytherapy, allied health payments and other support services. Compensation grants were available to bring payments up to the level of the previous year. There is potential to provide incentives to promote best practice in Australia through linking appropriate practice to funding models. Key Australian and international developments should be monitored, including economic evaluation studies, classification and funding models, and the deliberations of the American College of Radiology, the American Society for Therapeutic Radiology and Oncology, the Trans-Tasman Radiation Oncology Group and the Council of Oncology Societies of Australia. National impact on clinical practice guidelines in Australia can be achieved through the Quality of Care and Health Outcomes Committee of the National Health and Medical Research Council.
-
Decommissioning funding: ethics, implementation, uncertainties
International Nuclear Information System (INIS)
2006-01-01
This status report on Decommissioning Funding: Ethics, Implementation, Uncertainties also draws on the experience of the NEA Working Party on Decommissioning and Dismantling (WPDD). The report offers, in a concise form, an overview of relevant considerations on decommissioning funding mechanisms with regard to ethics, implementation and uncertainties. Underlying ethical principles found in international agreements are identified, and factors influencing the accumulation and management of funds for decommissioning nuclear facilities are discussed together with the main sources of uncertainties of funding systems. (authors)
-
Open-end Investment Funds in Croatia
Directory of Open Access Journals (Sweden)
Bojan Morić Milovanović
2006-03-01
Full Text Available This work discusses investment funds in Croatia, with a particular emphasis on openend investment funds. After a short review of the development of the funds, the perception of the funds is analysed, as are the trends in total assets and in average yields. The degree of concentration of open-end investment funds is shown with statistical measures of concentration (the Gini Coefficient, the Lorenz Curve and concentration ratios. All these indicators show that the concentration is moderate to strong. The greatest yields are given by the equity funds, but these are also the most risky.
-
12 CFR 619.9185 - Funding Corporation.
2010-01-01
... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Funding Corporation. 619.9185 Section 619.9185 Banks and Banking FARM CREDIT ADMINISTRATION FARM CREDIT SYSTEM DEFINITIONS § 619.9185 Funding Corporation. The term Funding Corporation refers to the Federal Farm Credit Banks Funding Corporation...
-
RECONSTRUCTION OF PENSION FUND PERFORMANCE MODEL AS AN EFFORT TO WORTHY PENSION FUND GOVERNANCE
Directory of Open Access Journals (Sweden)
Apriyanto Gaguk
2017-08-01
Full Text Available This study aims to reconstruct the performance assessment model on Pension Fund by modifying Baldrige Assessment method that is adjusted to the conditions in Dana Pensiun A (Pension Fund A in order to realize Good Pension Fund Governance. This study design uses case study analysis. The research sites were conducted in Dana Pensiun A. The informants in the study included the employer, supervisory board, pension fund management, active and passive pension fund participant as well as financial services authority elements as the regulator. The result of this research is a construction of a comprehensive and profound retirement performance assessment model with attention to aspects of growth and fair distribution. The model includes the parameters of leadership, strategic planning, stakeholders focus, measurement, analysis, and knowledge management, workforce focus, standard operational procedure focus, result, just and fair distribution of wealth and power.
-
2010-12-29
... Social Innovation Fund 2011 Awards; Request for Feedback AGENCY: Corporation for National and Community... of Funding Opportunity (NOFO) for Social Innovation Fund Awards. SUMMARY: The Corporation for... the 2011 Social Innovation Fund competition. This release will initiate a public input period that...
-
Fan, Victoria Y; Glassman, Amanda; Silverman, Rachel L
2014-12-01
Policy makers deciding how to fund global health programs in low- and middle-income countries face important but difficult questions about how to allocate resources across countries. In this article we present a typology of three allocation methodologies to align allocations with priorities. We then apply our typology to the Global Fund to Fight AIDS, Tuberculosis, and Malaria. We examined the Global Fund's historical HIV allocations and its predicted allocations under a new funding model that creates an explicit allocation methodology. We found that under the new funding model, substantial shifts in the Global Fund's portfolio are likely to result from concentrating resources in countries with more HIV cases and lower per capita incomes. For example, South Africa, which had 15.8 percent of global HIV cases in 2009, could see its Global Fund HIV funding more than triple, from historic levels that averaged 3.0 percent to 9.7 percent of total Global Fund allocations. The new funding model methodology is expected, but not guaranteed, to improve the efficiency of Global Fund allocations in comparison to historical practice. We conclude with recommendations for the Global Fund and other global health donors to further develop their allocation methodologies and processes to improve efficiency and transparency. Project HOPE—The People-to-People Health Foundation, Inc.
-
International Nuclear Information System (INIS)
Santiago, Juan Luis
2006-01-01
Decommissioning strategies currently considered are: Immediate dismantling (for all LWR), Deferred dismantling (only for Vandellos-I). Dismantling is assumed to commence 3 years after shutdown. End point: Release the site for industrial uses without radiological restrictions. Considerations for Planning and Funding: 40 years of lifetime for the nuclear power plants currently in operation (7.6 GWe installed). Decommissioning of NPPs: Vandellos I (Partial dismantling (Level 2) in 2003, Total dismantling (Level 3) after a 30 years period); Rest of NPPs: Total dismantling (Level 3), as regards calculation and planning 3 years after final reactor shutdown. Distribution of Responsibilities: Decommissioning is planned to start about 3 years after plant shutdown. During this period the Utility is still responsible for the plant and should remove the spent fuel and condition all the operational wastes, prior to the transfer of responsibility to Enresa. After transfer, Enresa is fully responsible for decommissioning. Decommissioning Funding and Management Rules: The cost of the decommissioning of nuclear installations are financed by the producers of such wastes. The financing of these responsibilities is by way of a Fund set up for this purpose. The costs are calculated by Enresa by means of an annual study, which reviews the status of the techniques and assesses the associated costs, this study being submitted in the General Radioactive Waste Plan to the Ministry of Economy for its approval. The Fund, managed by Enresa, is raised by a charge on the electricity price. The accumulated fund is administrated by Enresa under the supervision of the competent governmental authorities. Rules are established by a Fund Control Committee reporting to the Ministry of Economy. Financing via electricity Billing: The costs of activities arising as a result of radioactive waste management are to be financed by the producers. For NPPs, Establishment of a percentage quota on electricity
-
HEDGE FUND MANAGERIAL INCENTIVES AND PERFORMANCE
Directory of Open Access Journals (Sweden)
Nor Hadaliza ABD RAHMAN
2011-07-01
Full Text Available The growth of the hedge fund industry over the decades has brought an interesting form of performance contract between the portfolio managers and their investors. The contractual relation has given an impact to the performance of the hedge fund industry, which benefited both fund managers and investors. Furthermore, it has created more investors and fund managers to participate in this high risk and high return investment. Currently, many issues on fee structures and performancebased incentives have been discussed. Do these issues affect the performance of the hedge fund in the market? This paper will investigate the issues in Australian market. It will empirically analyze the hedge fund performance in relation to the market performance and whether managerial incentives and discretions associated with better fund performance.
-
HR Department
2007-01-01
The CERN Pension Fund has moved to new offices at the 5th floor of Building 5. The Benefits Service of the Fund will henceforth receive you in the offices: 5-5-017 - 5-5-021 - 5-5-023. We remind you that the office hours are: Tuesday/Wednesday/Thursday from 10 am to 12 am and from 3 pm to 5 pm. The Fund would like to take this opportunity to warmly thank all the persons involved in the Removal.
-
2010-07-01
... FINANCIAL RESPONSIBILITY AND COMPENSATION OFFSHORE OIL POLLUTION COMPENSATION FUND General § 135.9 Fund address. The address to which correspondence relating to the Coast Guard's administration of the Fund... 33 Navigation and Navigable Waters 2 2010-07-01 2010-07-01 false Fund address. 135.9 Section 135.9...
-
Decommissioning Funding: Ethics, Implementation, Uncertainties
International Nuclear Information System (INIS)
2007-01-01
This status report on decommissioning funding: ethics, implementation, uncertainties is based on a review of recent literature and materials presented at NEA meetings in 2003 and 2004, and particularly at a topical session organised in November 2004 on funding issues associated with the decommissioning of nuclear power facilities. The report also draws on the experience of the NEA Working Party on Decommissioning and Dismantling (WPDD). This report offers, in a concise form, an overview of relevant considerations on decommissioning funding mechanisms with regard to ethics, implementation and uncertainties. Underlying ethical principles found in international agreements are identified, and factors influencing the accumulation and management of funds for decommissioning nuclear facilities are discussed together with the main sources of uncertainties of funding systems
-
Administration of the Fund
2001-01-01
The Administration of the Fund has just signed a contract with the 'La Suisse' insurance company, making life insurance available to persons leaving CERN under very similar conditions to those offered to the members of the CERN personnel. From now on, persons retiring from the Organization will be able to take out this new insurance at the moment of retirement, provided that they have been members of CERN's collective life insurance scheme for the last five years of service. Exceptionally, until the end of 2001, 'La Suisse' has agreed to allow persons who are already retired to take out this insurance, subject to their state of health (health questionnaire to be completed) and with a maximum insured amount set at 150,000 CHF. We therefore invite any retired persons interested in this insurance to consult the detailed terms and conditions, either on the Pension Fund's Web site (http://pensions.web.cern.ch/pensions) or by writing to the Administration of the Fund. For those wishing to apply, the documents to be...
-
2003-01-01
The Governing Board of the Pension Fund held its hundred and seventeenth meeting on 3 June 2003. On that occasion, it examined the recommendations made by the External Auditors in their report on their audit of the 2002 annual accounts and the replies by the Pension Fund's Administration. The Governing Board was gratified by the small number of remarks by the External Auditors. It also confirmed its agreement to the procedure followed by the Administration of the Pension Fund in the handling of transfer values. Under other items on the agenda, the Board once again examined ESO's request relating to the terms and conditions of membership by its staff members. In this regard, the Board wishes to receive from ESO a definitive request (following the necessary consultation procedures with the representatives of the personnel and discussions within ESO's governing bodies) so that the working group can continue its work on a clear basis and so that the Governing Board is in a position to take up a position in the m...
-
Asset Allocation of Mutual Fund Investors
Dengpan Luo
2003-01-01
This paper studies mutual fund investors' asset allocation decisions using monthly flow data of U.S mutual fund industry from 1984 to 1998. We find that mutual fund investors change their asset allocations between stocks and bonds in reaction to business conditions tracked by changes in expected stock market returns. They tend to allocate less into stock funds during the trough of a business cycle when expected stock market returns are higher and to allocate more into stock funds during the p...
-
2010-07-01
... § 330.7 Funding. (a) Section 330.3(c) sets forth the maximum authorized funds for law enforcement contracting in FY 1978 and FY 1979. The Division funding levels for FY 1978 are based on information as... Parks, Forests, and Public Property CORPS OF ENGINEERS, DEPARTMENT OF THE ARMY REGULATION OF LAW...
-
The Funding of Virtual Universities
Poulin, Russell; Michelau, Demaree K.
2009-01-01
This article reviews categorization models and the outcomes of a virtual university funding survey. Although categorization of types of funding mechanisms is a necessary analytical tool, it often hides the many and varied political decisions that created them. In commenting on the implications of the type of funding model, political forces behind…
-
Funding emergency care: Australian style.
Bell, Anthony; Crilly, Julia; Williams, Ged; Wylie, Kate; Toloo, Ghasem Sam; Burke, John; FitzGerald, Gerry
2014-08-01
The ongoing challenge for ED leaders is to remain abreast of system-wide changes that impact on the day-to-day management of their departments. Changes to the funding model creates another layer of complexity and this introductory paper serves as the beginning of a discussion about the way in which EDs are funded and how this can and will impact on business decisions, models of care and resource allocation within Australian EDs. Furthermore it is evident that any funding model today will mature and change with time, and moves are afoot to refine and contextualise ED funding over the medium term. This perspective seeks to provide a basis of understanding for our current and future funding arrangements in Australian EDs. © 2014 Australasian College for Emergency Medicine and Australasian Society for Emergency Medicine.
-
2011-07-06
... Exemptions for Advisers to Venture Capital Funds, Private Fund Advisers With Less Than $150 Million in Assets... Investment Advisers Registration Act of 2010--the new rules define ``venture capital fund'' and provide an... Venture Capital Strategy 8. Is a Private Fund 9. Application to Non-U.S. Advisers 10. Grandfathering...
-
Performance Evaluation of Investment (Mutual Funds
Directory of Open Access Journals (Sweden)
Povilas Vyšniauskas
2014-12-01
Full Text Available The efficiency of an investment fund is one of the main components in evaluating the performance of the fund. This study seeks for introducing and comparing risk and performance evaluation ratios. The paper is aimed at testing the worked out ratios and at distinguishing between the best ones for the purpose of evaluating the performance of Lithuanian mutual funds. Scientific studies show that a standard deviation, alpha, beta, Sharpe and Treynor ratios are mostly employed for identifying the performance of mutual funds that are also compared with their benchmark index to establish if these funds are outperformed and if is it worth paying management fees to investment banks for managing mutual funds. Historical data were selected for the period from 2012-01-02 to 2013-10-15 analysing the prices of monthly funds. The paper points out the areas of a practical application of the proposed model for investment fund valuation, which may not only provide valuable outcomes for practitioners but also may inspire further research on this article.
-
2008-01-01
Two physics students at the University of Bristol have organised a petition against the recently-announced funding cut of 80 million by the body that funds physics research in the UK, the Science and Technology Facilities Council (STFC).
-
... Support Publications Fundraising News What is the Fanconi Anemia Research Fund? Fanconi anemia is an inherited disease that can lead to ... population. Lynn and Dave Frohnmayer started the Fanconi Anemia Research Fund, in 1989 to find effective treatments ...
-
2003-01-01
Amendment No 19 to the Rules and Regulations of the Pension Fund has just been published and can be obtained from Divisional secretariats or, in the case of pensioners, directly from the Administration of the Fund (tel. 767-91 94/27 38), bldg 5, 1-030. This Amendment, which entered into force on 1.1.2003, concerns 1) the fixed sums and allowances adjusted at same date (Annex B) and 2) the articles which have been amended, in accordance with the Finance Committee's decision, regarding voting rules of the Governing Board and the role and composition of the Investment Committee.
-
7 CFR 247.25 - Allowable uses of administrative funds and other funds.
2010-01-01
... subgrantees must comply with part 3019 of this title. State and local agencies may use procurement procedures... authority regarding the settlement of all contractual and administrative issues arising out of procurements... administrative funds provided to State and local agencies? Administrative funds may be used for costs that are...
-
77 FR 73586 - Further Inquiry Into Issues Related to Mobility Fund Phase II
2012-12-11
... highest cost areas. 17. Small business participation. In the USF/ICC Transformation Order and FNPRM, the... Phase II of the Mobility Fund. As established in the USF/ICC Transformation Order and FNPRM, 76 FC 78383... previously filed in response to the USF/ICC Transformation Order and FNPRM and the Bureaus' experience in...
-
The Performance-based Funding Scheme of Universities
Directory of Open Access Journals (Sweden)
Juha KETTUNEN
2016-05-01
Full Text Available The purpose of this study is to analyse the effectiveness of the performance-based funding scheme of the Finnish universities that was adopted at the beginning of 2013. The political decision-makers expect that the funding scheme will create incentives for the universities to improve performance, but these funding schemes have largely failed in many other countries, primarily because public funding is only a small share of the total funding of universities. This study is interesting because Finnish universities have no tuition fees, unlike in many other countries, and the state allocates funding based on the objectives achieved. The empirical evidence of the graduation rates indicates that graduation rates increased when a new scheme was adopted, especially among male students, who have more room for improvement than female students. The new performance-based funding scheme allocates the funding according to the output-based indicators and limits the scope of strategic planning and the autonomy of the university. The performance-based funding scheme is transformed to the strategy map of the balanced scorecard. The new funding scheme steers universities in many respects but leaves the research and teaching skills to the discretion of the universities. The new scheme has also diminished the importance of the performance agreements between the university and the Ministry. The scheme increases the incentives for universities to improve the processes and structures in order to attain as much public funding as possible. It is optimal for the central administration of the university to allocate resources to faculties and other organisational units following the criteria of the performance-based funding scheme. The new funding scheme has made the universities compete with each other, because the total funding to the universities is allocated to each university according to the funding scheme. There is a tendency that the funding schemes are occasionally
-
LENUS (Irish Health Repository)
Quirke, M
2011-03-01
Introduction Non-contrast helical CT (NHCT) became the procedure of choice for investigating Emergency Department (ED) patients presenting with suspected renal colic at Beaumont Hospital, Dublin, in 2008. The impact of NHCT on waiting times and patient management was compared with intravenous pyelography (IVP). Methods A retrospective, comparative cohort analysis of 95 patients who had IVP and 109 patients who had NHCT was performed. Length of ED stay from time of scan ordering to referral or discharge was analysed relative to time of day and scan result. Results Patients having NHCT who attended between 00:00-08:00 h, had a twofold longer length of stay than those who had IVP between the same hours (median 7.07 h vs 3.03 h, p=0.0294). The length of ED stay for patients attending between 08:00 and 24:00 h was similar in both groups. The presence of urolithiasis did not impact on length of stay. A significant alternate\\/incidental diagnosis was reported in 28 patients having NHCT, of which 12 were cancerous growths. Conclusion NHCT allows for the detection of incidental\\/alternate diagnoses that may not be otherwise detected in patients with renal colic. Compared to IVP, NHCT has not impacted positively on the speed of patient processing in the ED under study. For patients presenting after midnight, it is associated with over a twofold longer length of stay from the time of scan ordering to referral or discharge. This leads to prolonged patient stays in the ED, and as such contributes to overcrowding.
-
7 CFR 771.12 - Funding applications.
2010-01-01
... availability of funds. However, when multiple applications are received on the same date and available funds... determines to be most critical for the accomplishment of program objectives, will be funded first. ...
-
ELECTIONS PENSION FUND CANDIDATE NR 5
2001-01-01
ORGANISATION EUROPEENNE POUR LA RECHERCHE NUCLEAIRE CERN EUROPEAN ORGANIZATION FOR NUCLEAR RESEARCH CAISSE DE PENSIONS / PENSION FUND Caisse de Pensions - ELECTIONS - Pension Fund This candidature has been duly registered and is hereby presented in accordance with paragraph 6.h of the Regulations for Elections to the Governing Board of the Pension Fund. Candidate : Name : Sonnemann First Name : Florian Since my arrival at CERN in 1997 I have worked in the accelerator and administrative sectors. I have recently been elected as member of the Staff Council and of the Executive Committee of the Staff Association in which I am actively following matters concerning the Pension Fund. My candidature for the Governing Board of the CERN Pension Fund is mainly motivated to add my part in ensuring a solid financial situation of the Pension Fund. The Pension Fund is our only social security system. I wish to play a role in ensuring that the pensions will remain a secure revenue for all staff membe...
-
ELECTIONS PENSION FUND 5th candidate
2001-01-01
ORGANISATION EUROPEENNE POUR LA RECHERCHE NUCLEAIRE CERN EUROPEAN ORGANIZATION FOR NUCLEAR RESEARCH CAISSE DE PENSIONS / PENSION FUND Caisse de Pensions - ELECTIONS - Pension Fund This candidature has been duly registered and is hereby presented in accordance with paragraph 6.h of the Regulations for Elections to the Governing Board of the Pension Fund. Candidate : Name : Sonnemann First Name : Florian Since my arrival at CERN in 1997 I have worked in the accelerator and administrative sectors. I have recently been elected as member of the Staff Council and of the Executive Committee of the Staff Association in which I am actively following matters concerning the Pension Fund. My candidature for the Governing Board of the CERN Pension Fund is mainly motivated to add my part in ensuring a solid financial situation of the Pension Fund. The Pension Fund is our only social security system. I wish to play a role in ensuring that the pensions will remain a secure revenue for all staff membe...
-
Creative partnerships for funding nursing research.
McCann, Judith J; Hills, Elizabeth Blanchard; Zauszniewski, Jaclene A; Smith, Carol E; Farran, Carol J; Wilkie, Diana J
2011-02-01
The Small Business Innovation Research (SBIR) program and the Small Business Technology Transfer Research (STTR) program are two federal funding mechanisms that some nurses in academic positions have used to support research and development of innovative nursing products or services. Both the SBIR and STTR mechanisms are excellent sources of funding for nurse researchers who want to capitalize on relationships with small businesses or obtain seed money to fund high-risk projects with potential to attract new venture capital. This article provides an overview of National Institutes of Health (NIH)-funded SBIR and STTR programs and summarizes similarities and differences between the programs. The article also describes unique features of NIH SBIR and STTR funding mechanisms that differentiate them from other R-series funding mechanisms, reviews evaluation criteria for SBIR and STTR projects, and discusses critical partners and resources for proposal development. Finally, the article describes characteristics of successful partnerships and provides examples of SBIR/STTR-funded projects.
-
THE NOx SYSTEM IN HOMOGENEOUS AND HETEROGENEOUS NUCLEAR WASTE
International Nuclear Information System (INIS)
Meisel, Dan; Bentley, John; Camaioni, Donald M.; Shaw, Wendy J.
2002-01-01
This report summarizes advances of the above-mentioned EMSP project during the period July 1, 2001-June 30, 2002. The project focuses on the effects of organic chemicals in stored nuclear waste and their impact on pretreatment and tank closure issues. Managing the tank wastes and site cleanup activities requires understanding of the chemistry of organics in aqueous basic solutions that contain high nitrate and nitrite concentrations under the field of g and b irradiation. The goal of this EMSP project is to quantitatively characterize the important chemical processes that are induced by radiolysis of the organic complexants, and their degradation products, during the storage in tanks. Furthermore, concerns that arise from pretreatment and tank closure issues, e.g., Tc speciation, can be rationalized with the mechanistic knowledge provided here. Recognizing that experiments cannot reproduce every conceivable realistic scenario, the project emphasizes computational methodologies . None of the Hanford tanks is currently on a watch list, partially due to the predictive understanding of the tanks' chemistry that was developed by these projects and their predecessor activities. The project is closely coupled to another EMSP project (81883) and exchange of information between the two related studies is frequent
-
Establishing a green lights revolving fund
Energy Technology Data Exchange (ETDEWEB)
NONE
1996-07-01
The report details the experiences of the City of Houston in establishing a Green Lights Revolving Fund. It provides examples of key documents and guidelines which can be used in other jurisdictions to establish an internal revolving fund to provide continuing monies through recapture of cost savings for an ongoing program of energy improvements in governmental facilities. It provides guidelines on how to establish a continuing source of funds for governmental facility energy improvements. The report provides background information on the ongoing energy improvement programs in the City of Houston, including its participation in the Environmental Protection Agency`s Green Lights Program. It reviews the steps required to establish a Green Lights Revolving Fund, including the administrative, legal, budgetary, accounting, interdepartmental, mayoral, and governing body approvals and actions needed to create a self-sustaining revolving fund devoted to energy improvements. The report also describes two funding sources in addition to the grant seed funds which were used to increase the initial funds available in the Green Lights Revolving Fund. It provides sample documents for modification and use in other jurisdictions that want to use similar funding sources. It reports the initial project submission and selection procedure and criteria, and provides a transferable project application kit based on the criteria specified. It also details a sample repayment memorandum of understanding between departments, which can be used in other governments. Other transferable products provided in the report are sample energy audit summaries which were conducted by qualified, independent staff to determine the accuracy of the departmental project costs and savings payback calculations.
-
75 FR 55541 - NOAA Regional Ocean Partnership Funding Program-FY2011 Funding Competition
2010-09-13
...-01] RIN 0648-ZC20 NOAA Regional Ocean Partnership Funding Program--FY2011 Funding Competition AGENCY: National Ocean Service, National Oceanic and Atmospheric Administration (NOAA), Department of Commerce...-profit organizations (requirements described in full announcement) that NOAA is soliciting proposals for...
-
International Nuclear Information System (INIS)
CD Carlson; SQ Bennett
2000-01-01
Pacific Northwest National Laboratory was awarded ten Environmental Management Science Program (EMSP) research grants in fiscal year 1996, six in fiscal year 1997, eight in fiscal year 1998, and seven in fiscal year 1999. All of the fiscal year 1996 award projects have been completed and will publish final reports, so their annual updates will not be included in this document. This section summarizes how each of the currently funded grants addresses significant US Department of Energy (DOE) cleanup issues, including those at the Hanford Site. The technical progress made to date in each of these research projects is addressed in more detail in the individual progress reports contained in this document. This research performed at PNNL is focused primarily in four areas: Tank Waste Remediation; Decontamination and Decommissioning; Spent Nuclear Fuel and Nuclear Materials; and Soil and Groundwater Cleanup
-
Energy Technology Data Exchange (ETDEWEB)
Carlson, Clark D.; Bennett, Sheila Q.
2000-07-25
Pacific Northwest National Laboratory was awarded ten Environmental Management Science Program (EMSP) research grants in fiscal year 1996, six in fiscal year 1997, eight in fiscal year 1998 and seven in fiscal year 1999.(a) All of the fiscal year 1996 awards have been completed and the Principal Investigators are writing final reports, so their summaries will not be included in this document. This section summarizes how each of the currently funded grants addresses significant U.S. Department of Energy (DOE) cleanup issues, including those at the Hanford Site. The technical progress made to date in each of these research projects is addressed in more detail in the individual progress reports contained in this document. This research performed at PNNL is focused primarily in four areas: Tank Waste Remediation, Decontamination and Decommissioning, Spent Nuclear Fuel and Nuclear Materials, and Soil and Groundwater Cleanup.
-
Energy Technology Data Exchange (ETDEWEB)
CD Carlson; SQ Bennett
2000-07-25
Pacific Northwest National Laboratory was awarded ten Environmental Management Science Program (EMSP) research grants in fiscal year 1996, six in fiscal year 1997, eight in fiscal year 1998, and seven in fiscal year 1999. All of the fiscal year 1996 award projects have been completed and will publish final reports, so their annual updates will not be included in this document. This section summarizes how each of the currently funded grants addresses significant US Department of Energy (DOE) cleanup issues, including those at the Hanford Site. The technical progress made to date in each of these research projects is addressed in more detail in the individual progress reports contained in this document. This research performed at PNNL is focused primarily in four areas: Tank Waste Remediation; Decontamination and Decommissioning; Spent Nuclear Fuel and Nuclear Materials; and Soil and Groundwater Cleanup.
-
International Nuclear Information System (INIS)
Billingsley, L.T.
1992-01-01
This paper is addressed to geologists who must raise external funds for prospect acquisition, exploratory and development drilling, or to a limited extent, production acquisition. In the ranks of independent geologists, external funding is what separates a dreamer with a good idea from a successful oil and gas producer who gets ideas evaluated on a regular basis. The quantity of external funding usually dictates the level of drilling activity for independent geologists and small companies. Companies or individuals with high levels of internal cash flow set budgets to determine their drilling activity. The purpose of this paper is to provide an independent geologist with an overview of raising external funding. The scope is purposely general. The real motivation behind this paper is not to provide a cookbook for selling prospects. Instead, the author hopes to stimulate geologists to become students of salesmanship and thereby increase the effectiveness of their fund
-
77 FR 16030 - FY2012 Supplemental Funding for Brownfields Revolving Loan Fund (RLF) Grantees
2012-03-19
... loan fund to enhance remediation and provide funds on a continuing basis; and (IV) Such other similar... be started and completed expeditiously (i.e. ``shovel-ready'' projects) and will lead to...
-
Funding models for outreach ophthalmology services.
Turner, Angus W; Mulholland, Will; Taylor, Hugh R
2011-01-01
This paper aims to describe funding models used and compare the effects of funding models for remuneration on clinical activity and cost-effectiveness in outreach eye services in Australia. Cross-sectional case study based in remote outreach ophthalmology services in Australia. Key stake-holders from eye services in nine outreach regions participated in the study. Semistructured interviews were conducted to perform a qualitative assessment of outreach eye services' funding mechanisms. Records of clinical activity were used to statistically compare funding models. Workforce availability (supply of ophthalmologists), costs of services, clinical activity (surgery and clinic consultation rates) and waiting times. The supply of ophthalmologists (full-time equivalence) to all remote regions was below the national average (up to 19 times lower). Cataract surgery rates were also below national averages (up to 10 times lower). Fee-for-service funding significantly increased clinical activity. There were also trends to shorter waiting times and lower costs per attendance. For outreach ophthalmology services, the funding model used for clinician reimbursement may influence the efficiency and costs of the services. Fee-for-service funding models, safety-net funding options or differential funding/incentives need further exploration to ensure isolated disadvantaged areas prone to poor patient attendance are not neglected. In order for outreach eye health services to be sustainable, remuneration rates need to be comparable to those for urban practice. © 2011 The Authors. Clinical and Experimental Ophthalmology © 2011 Royal Australian and New Zealand College of Ophthalmologists.
-
2013-03-25
...; Capital Fund Safety and Security Grants; Fiscal Year 2012 AGENCY: Office of the Assistant Secretary for... availability of the Safety and Security funds with PIH Notice 2012-38 (Notice), which was issued September 7... Fund Safety and Security grant program. FOR FURTHER INFORMATION CONTACT: For questions concerning the...
-
2013-09-13
...; Capital Fund Safety and Security Grants; Fiscal Year 2013 AGENCY: Office of the Assistant Secretary for... availability of the Safety and Security funds with PIH Notice 2013-10 (Notice), which was issued May 3, 2013... Fund Safety and Security grant program. FOR FURTHER INFORMATION CONTACT: For questions concerning the...
-
2012-04-19
...; Capital Fund Safety and Security Grants; Fiscal Year 2011 AGENCY: Office of the Assistant Secretary for... notified of the availability of the Safety and Security funds with PIH Notice 2011-56 (Notice), which was... award recipients under the Capital Fund Safety and Security grant program. FOR FURTHER INFORMATION...
-
Are international fund flows pro- or counter-cyclical?
Li, Suxiao; de Haan, Jakob; Scholtens, Bert; Yang, Haizhen
2015-01-01
We investigate whether international fund flows are pro-or counter-cyclical by employing a concordance index. International fund flows are investments in bond and equity markets by institutional investors, such as mutual funds, exchange traded funds, closed-end funds and hedge funds. We find that
-
Fund allocation within Australian dental care: an innovative approach to output based funding.
Tennant, M; Carrello, C; Kruger, E
2005-12-01
Over the last 15 years in Australia the process of funding government health care has changed significantly. The development of dental funding models that transparently meet both the service delivery needs for data at the treatment level and policy makers' need for health condition data is critical to the continued integration of dentistry into the wider health system. This paper presents a model of fund allocation that provides a communication construct that addresses the needs of both policy makers and service providers. In this model, dental treatments (dental item numbers) have been grouped into eight broad dental health conditions. Within each dental health condition, a weighted average price is determined using the Department of Veterans Affairs' (DVA) fee schedule as the benchmark, adjusted for the mix of care. The model also adjusts for the efficiency differences between sectors providing government funded dental care. In summary, the price to be applied to a dental health condition category is determined by the weighted average DVA price adjusted by the sector efficiency. This model allows governments and dental service providers to develop funding agreements that both quantify and justify the treatment to be provided. Such a process facilitates the continued integration of dental care into the wider health system.
-
Fund managers’ contracts and short-termism
Casamatta, Catherine; Pouget, Sébastien
2009-01-01
This paper considers the problem faced by long-term investors who have to delegate the management of their money to professional fund managers. Investors can earn profits if fund managers collect long-term information. We investigate to what extent the delegation of fund management prevents long-term information acquisition, inducing short-termism. We also study the design of long-term fund managers' compensation contracts. Absent moral hazard, short-termism arises only because of the cost...
-
Market conditions and hedge fund survival
Mark A. Carlson; Jason Steinman
2008-01-01
As the hedge fund industry has grown, there has been increased concern that, during sharp market moves, hedge fund failures could exacerbate the deterioration in financial conditions and deepen a crisis. However, there has not been much formal analysis regarding the impact of financial market conditions on hedge fund survival. To help fill this gap, this paper examines the relationship between financial market conditions and the likelihood of hedge fund failure after controlling for performan...
-
Guthrie, James W.; Peng, Arthur
2010-01-01
If one relies on newspaper headlines for education funding information, one might conclude that America's schools suffer from a perpetual fiscal crisis, every year perched precariously on the brink of financial ruin, never knowing whether there will be sufficient funding to continue operating. Budgetary shortfalls, school district bankruptcies,…
-
Educational Technology Funding Models
Mark, Amy E.
2008-01-01
Library and cross-disciplinary literature all stress the increasing importance of instructional technology in higher education. However, there is a dearth of articles detailing funding for library instructional technology. The bulk of library literature on funding for these projects focuses on one-time grant opportunities and on the architecture…
-
7 CFR 3419.7 - Redistribution of funds.
2010-01-01
..., AND EXTENSION SERVICE, DEPARTMENT OF AGRICULTURE MATCHING FUNDS REQUIREMENT FOR AGRICULTURAL RESEARCH AND EXTENSION FORMULA FUNDS AT 1890 LAND-GRANT INSTITUTIONS, INCLUDING TUSKEGEE UNIVERSITY, AND AT... formula funds. Unmatched research and extension funds will be reapportioned in accordance with the...
-
The Domino Effects of Federal Research Funding.
Lanahan, Lauren; Graddy-Reed, Alexandra; Feldman, Maryann P
2016-01-01
The extent to which federal investment in research crowds out or decreases incentives for investment from other funding sources remains an open question. Scholarship on research funding has focused on the relationship between federal and industry or, more comprehensively, non-federal funding without disentangling the other sources of research support that include nonprofit organizations and state and local governments. This paper extends our understanding of academic research support by considering the relationships between federal and non-federal funding sources provided by the National Science Foundation Higher Education Research and Development Survey. We examine whether federal research investment serves as a complement or substitute for state and local government, nonprofit, and industry research investment using the population of research-active academic science fields at U.S. doctoral granting institutions. We use a system of two equations that instruments with prior levels of both federal and non-federal funding sources and accounts for time-invariant academic institution-field effects through first differencing. We estimate that a 1% increase in federal research funding is associated with a 0.411% increase in nonprofit research funding, a 0.217% increase in state and local research funding, and a 0.468% increase in industry research funding, respectively. Results indicate that federal funding plays a fundamental role in inducing complementary investments from other funding sources, with impacts varying across academic division, research capacity, and institutional control.
-
The Analysis of Mutual Fund Performance: Evidence from U.S. Equity Mutual Funds
D.P. Budiono (Diana)
2010-01-01
textabstractWe study the mutual fund performance for about 45 years. There are several key points that we can withdraw from this dissertation. First, to study the persistence of mutual fund performance, it is important to consider time-varying exposures because when they are ignored, the persistence
-
Improvement of Classification of Enterprise Circulating Funds
Directory of Open Access Journals (Sweden)
Rohanova Hanna O.
2014-02-01
Full Text Available The goal of the article lies in revelation of possibilities of increase of efficiency of managing enterprise circulating funds by means of improvement of their classification features. Having analysed approaches of many economists to classification of enterprise circulating funds, systemised and supplementing them, the article offers grouping classification features of enterprise circulating funds. In the result of the study the article offers an expanded classification of circulating funds, which clearly shows the role of circulating funds in managing enterprise finance and economy in general. The article supplements and groups classification features of enterprise circulating funds by: the organisation level, functioning character, sources of formation and their cost, and level of management efficiency. The article shows that the provided grouping of classification features of circulating funds allows exerting all-sided and purposeful influence upon indicators of efficiency of circulating funds functioning and facilitates their rational management in general. The prospect of further studies in this direction is identification of the level of attraction of loan resources by production enterprises for financing circulating funds.
-
Optimizing retirement funds : an institutional perspective
2012-01-01
M.Comm. Pension funds have risen to great prominence in the last two decades because they provide a service that fits the needs of individuals. The community at large are rapidly accepting and demanding facilities for proper retirement planning. Employees contribute towards retirement funds and their contributions are tax deductible while taxable to the employee upon retirement, generally at a lower rate. The employer, who has instituted the retirement fund, owes the fund because the emplo...
-
Liquidity Hoarding and Inefficient Abundant Funding
Enisse Kharroubi
2015-01-01
This paper studies banks’ choice between building liquidity buffers and raising funding ex post to deal with reinvestment shocks. We uncover the possibility of an inefficient liquidity squeeze equilibrium when ex post funding is abundant. In the model, banks typically build larger liquidity buffers when they expect funding to be expensive. However, when banks hold larger liquidity buffers, pledgeable income is larger and they hence can raise more funding, which in the aggregate raises the fun...
-
Energy Technology Data Exchange (ETDEWEB)
Goldman, Charles A.; Stuart, Elizabeth; Hoffman, Ian; Fuller, Merrian C.; Billingsley, Megan A.
2011-02-25
Since the spring of 2009, billions of federal dollars have been allocated to state and local governments as grants for energy efficiency and renewable energy projects and programs. The scale of this American Reinvestment and Recovery Act (ARRA) funding, focused on 'shovel-ready' projects to create and retain jobs, is unprecedented. Thousands of newly funded players - cities, counties, states, and tribes - and thousands of programs and projects are entering the existing landscape of energy efficiency programs for the first time or expanding their reach. The nation's experience base with energy efficiency is growing enormously, fed by federal dollars and driven by broader objectives than saving energy alone. State and local officials made countless choices in developing portfolios of ARRA-funded energy efficiency programs and deciding how their programs would relate to existing efficiency programs funded by utility customers. Those choices are worth examining as bellwethers of a future world where there may be multiple program administrators and funding sources in many states. What are the opportunities and challenges of this new environment? What short- and long-term impacts will this large, infusion of funds have on utility customer-funded programs; for example, on infrastructure for delivering energy efficiency services or on customer willingness to invest in energy efficiency? To what extent has the attribution of energy savings been a critical issue, especially where administrators of utility customer-funded energy efficiency programs have performance or shareholder incentives? Do the new ARRA-funded energy efficiency programs provide insights on roles or activities that are particularly well-suited to state and local program administrators vs. administrators or implementers of utility customer-funded programs? The answers could have important implications for the future of U.S. energy efficiency. This report focuses on a selected set of ARRA-funded
-
Huang, Ming-Qing; Han, Li-Wei; Wu, Xiu-Hong; Bi, Ming-Gang; Shang, Hong-Cai; Liu, Yun-Fang; He, Wei-Ming; Li, Dan-Dan; Dong, Yan; Wang, Chang-En
2013-01-01
The applications accepted and approved by general program, young scientist fund and fund for less developed region of national natural science funds in the discipline of Chinese materia medica, NSFC in 2012 have been introduced. The research contents of the funded projects in the popular research areas have been summarized and the problems in the applications have been analyzed to give a reference to the scientists in the field of Chinese materia medica.
-
Hincker, Lawrence
2007-01-01
Virginia Tech President Charles Steger has asked Kenneth R. Feinberg, who served as "Special Master of the federal September 11th Victim Compensation Fund of 2001," to administer distributions of the university Hokie Spirit Memorial Fund (HSMF).
-
Namibia - Vocational Training Grant Fund
Millennium Challenge Corporation — The impact evaluation of the Vocational Training Grant Fund (VTGF) subactivity in Namibia used a random assignment design to determine the effects of VTGF-funded...
-
African Journals Online (AJOL)
Background: The Drug Revolving Fund (DRF) was instituted in 1996 in Oyo State to ensure sustainable drug availability at primary health care level with a seed stock of drugs supplied by the Petroleum Trust Fund. This was discontinued in 1999 and replaced in January 2000, with free health service, which involves ...
-
Mutual Fund Competition and Stock Market Liquidity
Massa, Massimo
2004-01-01
We study how competition in the mutual fund industry affects stock market liquidity. We argue that mutual fund families operate as multi-product firms, jointly choosing fees, performance and number of funds and sharing common research facilities. The family-based organization generates economies of scale in information that induce a trade off between performance and number of funds. The presence of more and relatively less-informed funds impacts the market, increasing stock liquidity. This in...
-
33 CFR 135.7 - Delegation-Fund Administrator.
2010-07-01
... 33 Navigation and Navigable Waters 2 2010-07-01 2010-07-01 false Delegation-Fund Administrator. 135.7 Section 135.7 Navigation and Navigable Waters COAST GUARD, DEPARTMENT OF HOMELAND SECURITY... FUND General § 135.7 Delegation—Fund Administrator. (a) The Fund Administrator is delegated authority...
-
ADMINISTRATIVE EXPENDITURES OF SOCIAL SECURITY FUNDS IN UKRAINE
Directory of Open Access Journals (Sweden)
Nataliia Ivanchuk
2017-12-01
Full Text Available Along with the expenditures for social protection, social security funds finance administrative direction, which should correspond to the amount of functions performed by a particular fund. The purpose of the paper is to determine ways to reduce administrative expenditures of state social security funds in the conditions of reforming Ukrainian economy. For this purpose, the authors investigate distribution of the expenditures between social security funds, analyse dynamics and structure of assignments for fund administration, and suggest possible ways to rationalize maintenance cost for these institutions. Methodology. Administrative expenditures are an integral part of the cost of social security funds and include particular items of expenses in the budget of these institutions. Applying a systematic approach to calculating the administrative costs of social security funds of Ukraine the authors have taken into account the expenditures related to funding management, support for information systems, and organization of work with insured people. Results of the survey showed that in 2007–2016 Pension Fund of Ukraine incurred the largest part of social expenditures (more than 90% compared with other social insurance funds (less than 10%. At the same time, the administrative expenses were divided approximately into two halves between Pension Fund and other social security funds. In 2015, the government launched a reform of social insurance funds that aimed to reduce funds to three institutions but a decrease in the total amount of administrative expenditures has not been achieved yet. In addition, Pension Fund of Ukraine was least burdened with administrative expenses, while other social security funds with a relatively small share of social expenditures were burdened with administrative expenditures much more. Practical implications. Research showed that nowadays the existence of several social security funds in Ukraine is economically
-
Cash Holdings and Mutual Fund Performance
Mikhail Simutin
2014-01-01
Cash holdings of equity mutual funds impose a drag on fund performance but also allow managers to make quick investments in attractive stocks and satisfy outflows without costly fire sales. This article shows that actively managed equity funds with high abnormal cash—that is, with cash holdings in excess of the level predicted by fund attributes—outperform their low abnormal cash peers by over 2% per year. Managers carrying high abnormal cash compensate for the low return on cash by making su...
-
Risk-return of Belgian SRI funds
Van Liedekerke, Luc; De Moor, Lieven; Vanwalleghem, Dieter
2007-01-01
We analyse the risk-return profile of Belgian SRI funds versus conventional investment funds. We apply a four-factor conditional Carhart model to establish whether there are significant differences in risk-return profile between an SRI portfolio and a conventional portfolio and test for learning effects in SRI funds. We show that there is no difference in risk-return profile between SRI and conventional funds. If return is not the problem, then what is it that limits the development of an SRI...
-
[Impact of the funding reform of teaching hospitals in Brazil].
Lobo, M S C; Silva, A C M; Lins, M P E; Fiszman, R
2009-06-01
To assess the impact of funding reform on the productivity of teaching hospitals. Based on the Information System of Federal University Hospitals of Brazil, 2003 and 2006 efficiency and productivity were measured using frontier methods with a linear programming technique, data envelopment analysis, and input-oriented variable returns to scale model. The Malmquist index was calculated to detect changes during the study period: 'technical efficiency change,' or the relative variation of the efficiency of each unit; and 'technological change' after frontier shift. There was 51% mean budget increase and improvement of technical efficiency of teaching hospitals (previously 11, 17 hospitals reached the empirical efficiency frontier) but the same was not seen for the technology frontier. Data envelopment analysis set benchmark scores for each inefficient unit (before and after reform) and there was a positive correlation between technical efficiency and teaching intensity and dedication. The reform promoted management improvements but there is a need of further follow-up to assess the effectiveness of funding changes.
-
Funding Opportunity: Genomic Data Centers
Funding Opportunity CCG, Funding Opportunity Center for Cancer Genomics, CCG, Center for Cancer Genomics, CCG RFA, Center for cancer genomics rfa, genomic data analysis network, genomic data analysis network centers,
-
7 CFR 3430.205 - Funding restrictions.
2010-01-01
... 7 Agriculture 15 2010-01-01 2010-01-01 false Funding restrictions. 3430.205 Section 3430.205... Funding restrictions. (a) Prohibition against construction. Funds made available under this subpart shall not be used for the construction of a new building or facility or the acquisition, expansion...
-
Performance control of Chinese investment funds
Cao, X.
2002-01-01
The performance control of investment funds has long been a discussed focal point by both academics and practitioners because of the ready availability of fund data and the importance of fund performance in attracting investors. Unfortunately, this area was still an almost blank space in the Chinese
-
24 CFR 401.472 - Rehabilitation funding.
2010-04-01
... (MARK-TO-MARKET) Restructuring Plan § 401.472 Rehabilitation funding. (a) Sources of funds—(1) Project... has determined that funding from this source is available. (b) Statutory restrictions. Any... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Rehabilitation funding. 401.472...
-
40 CFR 35.272 - Funding coordination.
2010-07-01
... 40 Protection of Environment 1 2010-07-01 2010-07-01 false Funding coordination. 35.272 Section 35.272 Protection of Environment ENVIRONMENTAL PROTECTION AGENCY GRANTS AND OTHER FEDERAL ASSISTANCE....272 Funding coordination. Recipients must use the lead-based paint program funding in a way that...
-
Empirical study on mutual fund objective classification.
Jin, Xue-jun; Yang, Xiao-lan
2004-05-01
Mutual funds are usually classified on the basis of their objectives. If the activities of mutual funds are consistent with their stated objectives, investors may look at the latter as signals of their risks and incomes. This work analyzes mutual fund objective classification in China by statistical methods of distance analysis and discriminant analysis; and examines whether the stated investment objectives of mutual funds adequately represent their attributes to investors. That is, if mutual funds adhere to their stated objectives, attributes must be heterogeneous between investment objective groups and homogeneous within them. Our conclusion is to some degree, the group of optimized exponential funds is heterogeneous to other groups. As a whole, there exist no significant differences between different objective groups; and 50% of mutual funds are not consistent with their objective groups.
-
GOVERNING BOARD OF THE PENSION FUND
2002-01-01
All members and beneficiaries of the Pension Fund are invited to attend the Annual General Asssembly to be held in the CERN Auditorium on Wednesday 2 October 2002 at 14.30 hrs The Agenda comprises: Opening Remarks (P. Levaux) Recent trends in the technical balance of pension funds (C. Cuénoud) Annual Report 2001: Presentation and results (C. Cuénoud) Copies of the Report are available from divisional secretariats. Position of the CERN Pension Fund with respect to market developments (G. Maurin) Questions from members and beneficiaries Persons wishing to ask questions are encouraged to submit them, where possible, in writing in advance, addressed to Mr C. Cuénoud, Administrator of the Fund. Conclusions (P. Levaux) As usual, participants are invited to drinks after the assembly. NB The minutes of the 2001 General Assembly are available from the Administration of the Fund (tel.(+4122)767 9194; e-mail Graziella.Praire@cern.ch) SOME ASPECTS OF THE FUND'S ACTIVITIES IN 2001...
-
ELECTIONS PENSION FUND 3rd candidate
2001-01-01
ORGANISATION EUROPEENNE POUR LA RECHERCHE NUCLEAIRE CERN EUROPEAN ORGANIZATION FOR NUCLEAR RESEARCH CAISSE DE PENSIONS / PENSION FUND Caisse de Pensions - ELECTIONS - Pension Fund This candidature has been duly registered and is hereby presented in accordance with paragraph 6.h of the Regulations for Elections to the Governing Board of the Pension Fund. Candidate : Name : Hauviller First Name : Claude Dear colleague of CERN and ESO, For the first time, I am standing and requesting your support to become a member of the Governing Board of our Pension Fund. CERN staff member since 1974, I have already carried elective mandates: I have been Delegate to the Staff Council and Member of the Senior Staff Consultative Committee (the Nine). For the majority of us, our Pension Fund is our only social provident scheme and source of retirement income; I believe I can usefully contribute to its successful management and help ensure its balance. Our Fund reaches its majority: soon, there will be more beneficiaries tha...
-
ELECTIONS PENSION FUND CANDIDATE NR 3
2001-01-01
ORGANISATION EUROPEENNE POUR LA RECHERCHE NUCLEAIRE CERN EUROPEAN ORGANIZATION FOR NUCLEAR RESEARCH CAISSE DE PENSIONS / PENSION FUND Caisse de Pensions - ELECTIONS - Pension Fund This candidature has been duly registered and is hereby presented in accordance with paragraph 6.h of the Regulations for Elections to the Governing Board of the Pension Fund. Candidate : Name : HAUVILLER First Name : Claude Dear colleague of CERN and ESO, For the first time, I am standing and requesting your support to become a member of the Governing Board of our Pension Fund. CERN staff member since 1974, I have already carried elective mandates: I have been Delegate to the Staff Council and Member of the Senior Staff Consultative Committee (the Nine). For the majority of us, our Pension Fund is our only social provident scheme and source of retirement income; I believe I can usefully contribute to its successful management and help ensure its balance. Our Fund reaches its majority: soon, there will be more beneficiaries tha...
-
GOVERNING BOARD OF THE PENSION FUND
2001-01-01
The Governing Board met on 4 September in its first session since the summer break. On this occasion, the Board invited the two actuaries entrusted with the three-yearly actuarial review of the Fund, MP Actuaires SA (Geneva) and AON Consulting (Brussels), to present their results. Although the two studies were conducted independently and simultaneously, the Governing Board noted that the underlying methodology was remarkably similar in both cases. Both actuaries adopted a stochastic approach, both performed analyses based on the closed-fund method and on the open-fund method, and both made an evaluation of the risks for the appreciation of the Fund's financial position. This methodology produced consistent results which, while not always identical, are superimposable in terms of their order of magnitude. Under the closed-fund method, which involves assessing the Fund's financial situation as if it were closed on the date of calculation without any new members being admitted, both actuaries conclude that the s...
-
ELECTIONS PENSION FUND CANDIDATE NO 2
2000-01-01
This candidature has been duly registered and is hereby presented in accordance with paragraph 6.h of the Regulations for Elections to the Governing Board of the Pension Fund. Candidate: Name: RANJARDFirst Name: Florence Having been a member of the Governing Board of the Pension Fund since 1983 as Guy Maurins alternate, I am standing for a further 3-year term of office. Over the past few years work has concentrated essentially on following items: Monitoring of the work of the fund managers and their performances. The three-yearly study of the Funds actuarial situation. The pension guarantees second phase. The Fund is approaching its maturity: the level of benefits exceeds contributions. In this context it has to strike a suitable balance between management of the risk from a dynamic investment policy, while a prudent policy avoiding any significant loss of its capital. These will be my concerns within the Governing Board of the Pension Fund if you...
-
European Regulatory Framework for Money Market Funds
Portuese, Aurelien; MacNeil, Iain
2014-01-01
Money market funds are widely used by all types of investors, including households, corporate treasurers, pension funds, or insurance companies, who regard money market funds as a ‘safe’ short-term liquid asset class for investing cash. In this case they are proxies to cash deposits. Money market funds are themselves key lenders to issuers of short dated high quality money market instruments. They provide an important source of funding for a variety of institutions such as sovereigns, banks, ...
-
Pension Fund - ELECTIONS - Irene SEIS
2002-01-01
CERN - EUROPEAN ORGANIZATION FOR NUCLEAR RESEARCH PENSION FUND This candidature has been duly registered and is hereby presented in accordance with paragraph 6.h of the Regulations for Elections to the Governing Board of the Pension Fund. Candidate: Name: SEIS First Name : Irene Our Pension Fund (that of CERN and ESO personnel) is for most of us the only social protection when we retire. Its purpose is to give us a pension, which permits to maintain a certain standard of living for us, and for our dependants. I have worked in the Governing Board of the Pension Fund, as well as in numerous working groups on pension matters, since 11 years, either in my role as a Staff Association delegate, or as a member of the Governing Board. In both environments, I defend the principles of solidarity, which are part of our social security system, and I stand up for maintaining its primary principle, being a defined benefit scheme. Another of my preoccupations is the long-term future of the fund, including the gu...
-
Comparison of the Navy Working Capital Fund and Mission Funding as Applied to Navy Shipyards
National Research Council Canada - National Science Library
Cain, Andrew M
2006-01-01
.... This funding shift has raised questions about the advantages and disadvantages each financial system provides shipyards, the operating differences that occur due to the funding change, and the future...
-
75 FR 9120 - Electronic Fund Transfers
2010-03-01
... FEDERAL RESERVE SYSTEM 12 CFR Part 205 [Regulation E; Docket No. R-1343] Electronic Fund Transfers... implements the Electronic Fund Transfer Act, and the official staff commentary to the regulation. The final..., the Board adopted a final rule under Regulation E, which implements the Electronic Fund Transfer Act...
-
40 CFR 35.691 - Funding coordination.
2010-07-01
... 40 Protection of Environment 1 2010-07-01 2010-07-01 false Funding coordination. 35.691 Section 35.691 Protection of Environment ENVIRONMENTAL PROTECTION AGENCY GRANTS AND OTHER FEDERAL ASSISTANCE...(g)) § 35.691 Funding coordination. Recipients must use the Lead-Based Paint program funding in a way...
-
Importance of funding in decommissioning cost estimates
International Nuclear Information System (INIS)
Mingst, B.C.
1987-01-01
Decommissioning cost estimates have been made by several study groups for the decommissioning of pressurized-water and boiling-water nuclear power stations. The results of these studies are comparable when corrected for inflation and the differences in contingency factors applied by the study groups. The estimated dismantling costs differ far less than a factor of 2 in all cases, despite the design differences found in the plants that were studied. An analysis of the different methods available for funding the dismantling of these facilities shows the much stronger effect that the choice of funding methods has on the net cost of decommissioning. The total cost of dismantling may vary more than a factor of 4 from one funding method to another, assuming current or recent historical inflation rates. The funding methods evaluated include sinking funds, deposits, negative-salvage value depreciation, and insurance. These funding methods are taken from the NRC's Notice of Proposed Rulemaking description of acceptable funding methods. The funding analysis for this study was performed using the DECOST-86 computer code. The evaluation of funding options for a nuclear facility, and the appropriate choice of the funding method best for that facility, are found to be more important than detailed engineering studies in determining the net cost of decommissioning during the early portions of the plant's operating lifetime
-
National Research Council Canada - National Science Library
1993-01-01
...) Revolving Fund of the Defense Business Operations Fund (the Fund). The revolving Fund was created to provide finance and accounting services to DoD customers, charging them the full cost of those services...
-
Franssen, Thomas; Scholten, Wout; Hessels, Laurens K.; de Rijcke, Sarah
2018-01-01
Over the past decades, science funding shows a shift from recurrent block funding towards project funding mechanisms. However, our knowledge of how project funding arrangements influence the organizational and epistemic properties of research is limited. To study this relation, a bridge between science policy studies and science studies is…
-
The Irish Enterprise Funding Environment, April 2012
2012-01-01
Funding is vital for enterprises to survive and at present bank lending is a central element of the funding environment for business in Ireland. This report provides an overview of the current funding environment for business in Ireland, both bank and non-bank sources. It also outlines the policy issues arising and proposes a wide range of actions to improve access to funding, many of which have been reflected in the Action Plan for Jobs. Implementation of funding measures in the Action Pl...
-
2001-2008 BBG Funding Overview
Broadcasting Board of Governors — This dataset presents BBG funding by Agency component for the period between FY 2001 and FY 2008. The data covers funding for each BBG broadcasting entity and for...
-
24 CFR 115.306 - Training funds.
2010-04-01
... 24 Housing and Urban Development 1 2010-04-01 2010-04-01 false Training funds. 115.306 Section 115.306 Housing and Urban Development Regulations Relating to Housing and Urban Development OFFICE OF... receive training funds. Training funds are fixed amounts based on the number of agency employees to be...
-
78 FR 65341 - Discretionary Grant Funds
2013-10-31
... Deviation: Non-Competitive Expansion Supplement Funds to the Healthcare Systems Bureau (HSB). SUMMARY: HRSA... of the Non-Competitive Award: $126,144. CFDA Number: 93.253. Period of Supplemental Funding: 10/1... period that is due to end August 31, 2014. The funding was based on providing services to 50 percent of...
-
A National Nuclear Fund was created
International Nuclear Information System (INIS)
Svolik, S.
2006-01-01
National Nuclear Fund for Decommissioning of the Nuclear Equipment and for Treatment of the Spent Nuclear Fuel and Radio Active Wastes - this is the full name of the newly established fund, because the State Fund of Liquidation of the Nuclear and Energetic Equipment has been cancelled by course of law. (author)
-
34 CFR 668.162 - Requesting funds.
2010-07-01
... Secretary, the Secretary may provide funds to an institution under the advance, reimbursement, just-in-time, or cash monitoring payment methods. (2) Each time an institution requests funds from the Secretary... received those funds. (c) Just-in-time payment method. Under the just-in-time payment method— (1) For each...
-
Viergever, Roderik F; Hendriks, Thom C C
2016-02-18
Little is known about who the main public and philanthropic funders of health research are globally, what they fund and how they decide what gets funded. This study aims to identify the 10 largest public and philanthropic health research funding organizations in the world, to report on what they fund, and on how they distribute their funds. The world's key health research funding organizations were identified through a search strategy aimed at identifying different types of funding organizations. Organizations were ranked by their reported total annual health research expenditures. For the 10 largest funding organizations, data were collected on (1) funding amounts allocated towards 20 health areas, and (2) schemes employed for distributing funding (intramural/extramural, project/'people'/organizational and targeted/untargeted funding). Data collection consisted of a review of reports and websites and interviews with representatives of funding organizations. Data collection was challenging; data were often not reported or reported using different classification systems. Overall, 55 key health research funding organizations were identified. The 10 largest funding organizations together funded research for $37.1 billion, constituting 40% of all public and philanthropic health research spending globally. The largest funder was the United States National Institutes of Health ($26.1 billion), followed by the European Commission ($3.7 billion), and the United Kingdom Medical Research Council ($1.3 billion). The largest philanthropic funder was the Wellcome Trust ($909.1 million), the largest funder of health research through official development assistance was USAID ($186.4 million), and the largest multilateral funder was the World Health Organization ($135.0 million). Funding distribution mechanisms and funding patterns varied substantially between the 10 largest funders. There is a need for increased transparency about who the main funders of health research are
-
PERFORMANCE EVALUATION OF CHINESE NEW FUNDS
Institute of Scientific and Technical Information of China (English)
倪苏云; 翁轶丛; 吴冲锋
2001-01-01
he performance of Chinese investment funds was empirically analyzed using the following models, i.e. Jensen model, Treynor-Mazuy (T-M) model amd Merton-Henriksson model. The results show that T-M model is fitted to Chinese investment funds best among these three. But none of them can perfectly interpret the new funds' performance. So, the idea suggested by Jagannathan, Korajczyk (J-K) to extend the test was adopted in this paper, and the results show that J-K model augmented from the M-H can explain the source of excess return of fund Anxin.
-
Pension Fund - ELECTIONS - Guillermo de la FUENTE
2002-01-01
CERN - EUROPEAN ORGANIZATION FOR NUCLEAR RESEARCH PENSION FUND This candidature has been duly registered and is hereby presented in accordance with paragraph 6.h of the Regulations for Elections to the Governing Board of the Pension Fund. Candidate: Name: de la FUENTE First Name : Guillermo As CERN treasurer with 12 years experience in finance with a background in Economics coupled with a MBA, my main goal will be to enhance the Pension Fund yield. During 3 consecutive years, our Pension Fund has suffered negative real returns:-1.65% in 2000, -4.26% in 2001 and most probably a double-digit loss this year. In addition to that, we spend annually around CHF 6'000'000 in bank charges and external consultants fees. If we do not change this negative trend, the funding ratio of our Pension Fund might become weak. A more proactive internal fund management in conjunction with a performance-related remuneration to external participants would be some of the points I will propose in order to maximize Fund's y...
-
Reactivity of Primary Soil Minerals and Secondary Precipitates Beneath Leaking Hanford Waste Tanks
International Nuclear Information System (INIS)
Nagy, Kathryn L.; Sturchio, Neil C.
2003-01-01
This project, renewal of a previous EMSP project of the same title, is in its first year of funding at the University of Illinois at Chicago. The purpose is to continue investigating rates and mechanisms of reactions between primary sediment minerals found in the Hanford subsurface and leaked waste tank solutions. The goals are to understand processes that result in (1) changes in porosity and permeability of the sediment and resultant changes in flow paths of the contaminant plumes, (2) formation of secondary precipitates that can take up contaminants in their structures, and (3) release of mineral components that can drive redox reactions affecting dissolved contaminant mobility. A post-doctoral scientist, Dr. Sherry Samson, has been hired and two masters of science students are beginning to conduct experimental research. One research project that is underway is focused on measurement of the dissolution rates of plagioclase feldspar in high pH, high nitrate, high Al-bearing solutions characteristic of the BX tank farms. The first set of experiments is being conduced at room temperature. Subsequent experiments will examine the role of temperature because tank solutions in many cases were near boiling when leakage is thought to have occurred and temperature gradients have been observed beneath the SX and BX tank farms. The dissolution experiments are being conducted in stirred-flow kinetic reactors using powdered labradorite feldspar from Pueblo Park, New Mexico
-
Comparison of the Navy Working Capital Fund and Mission Funding as Applied to Navy Shipyards
National Research Council Canada - National Science Library
Cain, Andrew M
2006-01-01
.... Specifically, the Navy has shifted two of its four shipyards, with authorization to shift the other two in FY07, from the Navy Working Capital Fund to mission funding through direct congressional appropriations...
-
Directory of Open Access Journals (Sweden)
Dumitru BELDIMAN
2016-06-01
Full Text Available The increase of the degree of absorption of European funds offered to Romania by the European Union represents one of its main objectives in the present and future situation. One of the main reasons that the funds are so important is the fact that, taking into consideration the microeconomic and macroeconomic situation that Romania is in, it represents an alternative financing mechanism of the economy that Romania can benefit in very advantageous conditions. Even under these conditions Romania- within 2007-2013 period of programming – couldn’t benefit from it by attracting as many structural and cohesion funds as possible, at least in comparison to other member states. In our opinion, that of the authors’ one of the reasons that led to such a low rate of absorption, alongside with the low administrative capacity of the state is the excessive bureaucracy, an inefficient legislative framework which is not harmonized with the European one, the lack of experience in using and administrating of European funds, the beneficiaries’ incapacity to sustain the financial support of the project (to assure the co-financing of the project, a low involvement of Romanian banking institutions in the process of supporting the beneficiaries of European funds. Another cause is the European funds fraud that happened in Romania. In the present article, the authors have decided to analyze the influence of European funds fraud on the degree of absorption of structural and cohesion funds in Romania.
-
Impact of Competition on Mutual Fund Marketing Expenses
Directory of Open Access Journals (Sweden)
Sitikantha Parida
2018-03-01
Full Text Available In this paper, I study the impact of market competition on mutual fund marketing expenses. In a sample of US domestic equity mutual funds, I find that marketing expenses decrease with the competition. This effect is stronger for top-performing funds. These results are counterintuitive, as one would ordinarily expect funds to incur more marketing expenses in response to pressure from competing funds. However, these results support the narrative that mutual funds employ marketing to draw attention to their performance in a tournament-like market, where the top-performing funds (the winners are rewarded with disproportionately high new investments. Higher competition decreases the chances of each fund to outperform the others and adversely affect their ability to attract new investments, and the funds respond by decreasing marketing expenses. Thus, competition appears to have implications for investor search cost.
-
GOVERNING BOARD OF THE PENSION FUND
2002-01-01
All members and beneficiaries of the Pension Fund are invited to attend the Annual General Asssembly to be held in the CERN Auditorium on Wednesday 2 October 2002 at 14.30 hrs The Agenda comprises: Opening Remarks (P. Levaux) Recent trends in the technical balance of pension funds (C. Cuénoud) Annual Report 2001: Presentation and results (C. Cuénoud) Copies of the Report are available from divisional secretariats. Position of the CERN Pension Fund with respect to market developments (G. Maurin) Questions from members and beneficiaries Persons wishing to ask questions are encouraged to submit them, where possible, in writing in advance, addressed to Mr C. Cuénoud, Administrator of the Fund. Conclusions (P. Levaux) As usual, participants are invited to drinks after the assembly. NB The minutes of the 2001 General Assembly are available from the Administration of the Fund (tel.(+4122)767 9194; e-mail Graziella.Praire@cern.ch) SOME ASPECTS OF THE FUND'S ACTIVITIES IN 2001 The Governing Board (at 31 De...
-
Governing Board of the Pension Fund
2006-01-01
Most of the discussions at the meetings of the Governing Board of the Pension Fund on 20 September, 13 October and 15 November 2005 led to decisions by the Council at its Session on 15 and 16 December 2005 that will shape the future of the Pension Fund in more ways than one. The summary of these three most recent meetings of the Governing Board therefore focuses on the Council's decisions concerning: a package of equilibration measures for the CERN Pension Fund, consisting of proposals by the Governing Board and by the CERN Management; amendments to the Rules of the Pension Fund concerning family composition; an amendment to the Rules of the Pension Fund introducing a new Article III 1.06, 'The extension of the contract of a staff member beyond the age limit of 65'; the payment of compensation to the Pension Fund for the reduction observed in staff numbers between 2001 and 2004; the indexation of pensions for 2006. Regarding the first point above, the following measures were approved: The use of more r...
-
Governing Board of the Pension Fund
2006-01-01
The Governing Board held its 146th and 147th meetings on 19 September and 1 November 2006 respectively. At the first of these two meetings, a technical amendment to the Rules of the Fund was discussed regarding the annual adjustment of pensions. The Governing Board made a proposal, which was approved by the CERN Council at its meeting on 19 October 2006, to make an amendment to Article II 1.15 of the Pension Fund's Rules (see below). As a result, in future years, as long as the funding ratio of the Pension Fund is below 100 %, only a fraction of the observed inflation will be granted, so that the funding ratio reaches 100 % by the end of 2033. The cumulated loss in purchasing power incurred by any beneficiary shall be limited to 8 % maximum (including, for those concerned, the 1.7 % loss as at 1 January 2005). The parameters of this mechanism shall be reviewed after each actuarial review, to take into account the updated financial position of the Fund. The factor to be applied to the consumer price index f...
-
Braithwaite, J; Hindle, D; Phelan, P D; Hanson, R
1998-06-01
Casemix funding for hospitals with the use of diagnosis-related groups (DRGs), which organise patients' conditions into similar clinical categories with similar costs, was introduced in Australia five years ago. It has been applied in different ways and to a greater or lesser extent in different Australian States. Only Victoria and South Australia have implemented casemix funding across all healthcare services. Attempts have been made to formally evaluate its impact, but they have not met the required scientific standards in controlling for confounding factors. Casemix funding remains a much-discussed issue. In this Debate, Braithwaite and Hindle take a contrary position, largely to stimulate policy debate; Phelan defends the casemix concept and advocates retaining its best features; and Hanson adds a plea for consumer input.
-
Funding for reactor decommissioning: the NRC perspective
International Nuclear Information System (INIS)
Wood, R.S.
1981-01-01
The cost of decommissioning a nuclear power plant is discussed. Four funding approaches that have received the most attention from the NRC are: prepayment into a trust fund of estimated decommissioning funds at the start of facility operation; annual contributions into a trust fund outside the control of the utility over the estimated life of a facility; internal reserve or sinking fund amortizations over the estimated life of a facility; and insurance or other surety mechanisms used separately or in conjunction with any of the first three mechanisms
-
Should Glaucoma be Publicly Funded in Arguments for Funding ...
African Journals Online (AJOL)
2018-03-01
Mar 1, 2018 ... 2018 Nigerian Journal of Ophthalmology | Published by Wolters Kluwer - Medknow. 59. [Downloaded free ... vision.[6] Further, Malaysia has an efficient, widespread ... universal healthcare program, mainly tax-funded (80%).
-
The rise of Asian sovereign wealth funds
Borst, Nicholas
2015-01-01
This Asia Focus provides an overview of sovereign wealth funds, evaluates the structure and activities of major funds in Asia, and compares the transparency of Asian funds relative to international best practices.
-
Mutual Fund Performance: Evidence From South Africa
Directory of Open Access Journals (Sweden)
Ömer Faruk Tan
2015-11-01
Full Text Available This paper aims to evaluate the performance of South African equity funds between January 2009 and November 2014. This study period overlaps with the study period of quantitative easing during which developing economies in financial markets have been influenced severely. Thanks to the increase in the money supply directed towards the capital markets, a relief was experienced in related markets following the crisis period. During this 5-year 10-month period, in which the relevant quantitative easing continued, Johannesburg Stock Exchange (JSE yielded approximately %16 compounded on average, per year. In this study, South African equity funds are examined in order to compare these funds' performance within this period.Within this scope- 10 South African equity funds are selected. In order to measure these funds' performances, the Sharpe ratio (1966, Treynor ratio (1965, Jensen's alpha (1968 methods are used. Jensen's alpha is also used in identifying selectivity skills of fund managers. Furthermore, the Treynor & Mazuy (1966 and Henriksson & Merton (1981 regression analysis methods are applied to ascertain the market timing ability of fund managers. Furthermore, Treynor & Mazuy (1966 regression analysis method is applied for market timing ability of fund managers.
-
2010-04-01
... HIGHWAY ADMINISTRATION, DEPARTMENT OF TRANSPORTATION ENGINEERING AND TRAFFIC OPERATIONS BRIDGES, STRUCTURES, AND HYDRAULICS Highway Bridge Replacement and Rehabilitation Program § 650.413 Funding. (a) Funds authorized for carrying out the Highway Bridge Replacement and Rehabilitation Program are available for...
-
25 CFR 87.11 - Investment of judgment funds.
2010-04-01
... 25 Indians 1 2010-04-01 2010-04-01 false Investment of judgment funds. 87.11 Section 87.11 Indians... JUDGMENT FUNDS § 87.11 Investment of judgment funds. As soon as possible after the appropriation of... distribution of the funds, the Commissioner shall invest such funds pursuant to 25 U.S.C. 162a. Investments of...
-
Farms and funds: investment funds in the global land rush
Energy Technology Data Exchange (ETDEWEB)
Buxton, Abbi; Campanale, Mark; Cotula, Lorenzo
2012-01-15
Investment funds show a growing interest in farmland and agriculture. They are buying up land and agribusinesses in developing countries with the expectation of high long-term returns linked to rising land prices, growing populations and increasing demand for food. While the media has reported extensively on the involvement of these funds in the global land rush, the mechanics remain little understood by the broader public. What is the interest and what is driving it? Who are the players and what processes do their investment decisions go through? What are the impacts in recipient countries? And what action can be taken to promote investments that genuinely support local people?.
-
Harvard University: Green Loan Fund. Green Revolving Funds in Action: Case Study Series
Foley, Robert
2011-01-01
The Green Loan Fund at Harvard University has been an active source of capital for energy efficiency and waste reduction projects for almost a decade. This case study examines the revolving fund's history from its inception as a pilot project in the 1990s to its regeneration in the early 2000s to its current operations today. The green revolving…
-
2000-01-01
This candidature has been duly registered and is hereby presented in accordance with paragraph 6.h of the Regulations for Elections to the Governing Board of the Pension Fund. Candidate: Name: MAURIN First Name: Guy I have been a member of the personnel since 1967 and as early as 1972 I was involved, in my capacity as President of the Staff Association, in the improvement of the Pension Fund benefits. As for most of us the Pension Fund is the only social provident scheme to which we belong, it is important to ensure that it is well managed and in balance. As a member of the Governing Board since 1974 and Vice-Chairman of this Board since 1977, I have continued to pursue these objectives. One of the main responsibilities of the Governing Board is our asset investment policy. The Investment Committee, of which I am Chairman, must have an overall view of the management of our 4 billion Swiss francs and seek the best yield with minimum risk. The investment structure must continuously be adapted i...
-
Hedge Funds as Investors of Last Resort?
David J. Brophy; Paige P. Ouimet; Clemens Sialm
2009-01-01
Hedge funds have become important investors in public companies raising equity privately. Hedge funds tend to finance companies that have poor fundamentals and pronounced information asymmetries. To compensate for these shortcomings, hedge funds protect themselves by requiring substantial discounts, negotiating repricing rights, and entering into short positions of the underlying stocks. We find that companies that obtain financing from hedge funds significantly underperform companies that ob...
-
Nuclear generation cost and nuclear research development fund
International Nuclear Information System (INIS)
Kim, S. S.; Song, G. D.
2000-01-01
The main objective of this study is to analyze the effects of nuclear R and D fund to nuclear generation cost and to assess the adaptability of fund size through the comparison with the nuclear research fund in Japan. It was estimated that nuclear R and D fund increased the average annual unit cost of nuclear power generation by 1.14 won/kWh. When the size of nuclear R and D fund is compared with that in Japan, this study suggests that the current nuclear R and D fund should be largely increased taking into consideration the ratio of R and D fund to nuclear generation
-
Pension Fund
2011-01-01
All members and beneficiaries of the Pension Fund are invited to attend the Annual Pension Fund Update to be held in the CERN Council Chamber on Tuesday 20 September 2011 from 10-00 to 12-00 a.m. Copies of the 2010 Financial Statements are available from departmental secretariats. Coffee and croissants will be served prior to the meeting as of 9-30 a.m.
-
PERFORMANCE MEASUREMENT OF UCITS INVESTMENT FUNDS IN CROATIA
Directory of Open Access Journals (Sweden)
Marko Curkovic
2017-03-01
Full Text Available UCITS investment funds represent an important investment opportunity for retail, as well for institutional investors in the European Union. The aim of this paper is to analyse the performance of the UCITS investment funds in Croatia and to detect relatively homogeneous groups among the UCITS funds based on its performance. The analysis includes 55 UCITS, in the period from the beginning of 2011 until the end of 2014, and it is conducted on daily data of share prices, available from Bloomberg terminal. Analysis is performed separately within the groups of different investment fund by investment strategy. The research methodology is based on the calculation of various indicators of absolute and relative risk-adjusted performance and riskiness of the funds. In general, based on analysis of performance measures, it can be concluded that funds with higher values of net assets were more successful compared to the funds with below-average asset values. Also, funds with below-average values of net assets were more volatile. At the same time, funds run by foreign own management companies were more successful by the absolute performance measures, compared to funds run by management companies with domestic ownership. On the other hand, those funds were more volatile, as well.
-
Directory of Open Access Journals (Sweden)
Mehmet Arslan
2010-06-01
Full Text Available The objective of the study is to evaluate risk- reward relationship and relative performances of the 4 different groups of mutual funds. To this end, daily return data of these 12 mutual funds (3 type variable fund; 3 B type variable fund; 3 A type stock fund and 3 A type Exchange traded fund together with daily market index (imkb100 return and daily return of riskless rate for the period from January 2006 to Feb 2010. The 180-day maturity T-Bill has been selected to represent riskless rate. To determine performances of mutual funds; Sharpe ratio, M2 measure, Treynor index, Jensen index, Sortino ratio, T2 ratio, Valuation ratio has been applied and these indicators produced conflicting results in ranking mutual funds. Then timingand selection capability of the fund manager has been determined by applying simple regression and Quadratic regression. Interestingly all funds found to have positive coefficient, indicating positive election capability of managers; but in terms of timing capability only one fund managers showed success. Finally, to determine extent to which mean returns are differs between mutual funds, market index (imkb100 and riskless rate (180 day TBill results of the analysis revealed that mean returns of individual security returns differs at P≤0,01 level. That shows instability in returns and poor ex-ante forecast modeling capability.
-
Barrenho, Eliana; Miraldo, Marisa; Shaikh, Mujaheed; Atun, Rifat
2017-01-01
International and domestic funding for malaria is critically important to achieve the Sustainable Development Goals. Its equitable distribution is key in ensuring that the available, scarce, resources are deployed efficiently for improved progress and a sustained response that enables eradication. We used concentration curves and concentration indices to assess inequalities in malaria funding by different donors across countries, measuring both horizontal and vertical equity. Horizontal equity assesses whether funding is distributed in proportion to health needs, whereas vertical equity examines whether unequal economic needs are addressed by appropriately unequal funding. We computed the Health Inequity Index and the Kakwani Index to assess the former and the latter, respectively. We used data from the World Bank, Global Fund, Unicef, President's Malaria Initiative and the Malaria Atlas Project to assess the distribution of funding against need for 94 countries. National gross domestic product per capita was used as a proxy for economic need and 'population-at-risk' for health need. The level and direction of inequity varies across funding sources. Unicef and the President's Malaria Initiative were the most horizontally inequitable ( pro-poor ). Inequity as shown by the Health Inequity Index for Unicef decreased from -0.40 (P0.10) in 2006 to -0.38 (P<0.05) in 2008, and decreased to -0.36 (P<0.10) in 2010. Domestic funding was inequitable ( pro-rich ) with inequity increasing from 0.28 (P<0.01) in 2006 to 0.39 (P<0.01) in 2009, and then decreasing to 0.22 (P<0.10) in 2010. Funding from the World Bank and the Global Fund was distributed proportionally according to need. In terms of vertical inequity, all sources were progressive: Unicef and the President's Malaria Initiative were the most progressive with the Kakwani Indices ranging from -0.97 (P<0.01) to -1.29 (P<0.01), and -0.90 (P<0.01) to -1.10 (P<0.01), respectively. Our results suggest that external funding of
-
77 FR 75362 - Funding and Fiscal Affairs, Loan Policies and Operations, and Funding Operations
2012-12-20
... FARM CREDIT ADMINISTRATION 12 CFR Part 615 Funding and Fiscal Affairs, Loan Policies and Operations, and Funding Operations CFR Correction 0 In Title 12 of the Code of Federal Regulations, Parts 600 to 899, revised as of January 1, 2012, on page 209, Subpart S, consisting of Sec. 615.5570, is...
-
Pension Fund Performance in East Asia: A Comparative Study
Directory of Open Access Journals (Sweden)
Zamri Ahmad
2015-06-01
Full Text Available This paper discusses and analyzes asset allocation and performance of the major pension funds in four East Asia countries, namely Malaysia, Singapore, Hong Kong and South Korea. The respective funds for these countries are Employee Provident Fund (EPF, Central Provident Fund (CPF, Mandatory Pension Fund (MPF and National Pension Service (NPS. The impact of some economic crises on the fund performance will also be assessed. Besides looking at the individual countries, a comparison of the performance among all the funds will also be done. From the analyses, it is found that the CPF is the most conservative pension fund as it invested most of its funds in fixed income and the investments were made in the local markets, while MPF is the most aggressive pension fund as most of its funds were invested in equities. Performance of the funds was measured in terms of return on investment (ROI. All funds recorded the lowest ROI during the subprime crisis in 2008. Besides the subprime crisis, these funds were also affected by the Japanese earthquake as lower ROI were also observed in 2011.
-
Financial Crisis and Corporate Social Responsible Mutual Fund Flows
Sitikantha Parida; Zhihong Wang
2018-01-01
In this paper, we investigate investment flows into mutual funds that hold more high corporate social responsible stocks (top CSR funds) vs. mutual funds that hold more low corporate social responsible stocks (bottom CSR funds). Using a large sample of equity mutual funds spanning 2003–2012, we find that top CSR funds on average receive about 5% less investment per annum compared to the other funds; whereas bottom CSR funds receive about 5.6% more investments. These relative negative and posi...
-
Markovič-Hribernik, Tanja; Vek, Uroš
2015-01-01
Up until the beginning of the financial crisis, Slovenia was marked by exceptionally high growth rates in the mutual fund industry. The reason for this were in the performance of the Slovenian stock market index, which was one of the best performing in 2007. In this paper we analyzed mutual funds performance in Slovenia to discover the quality of fund managers in the market. The focus was on funds with selected sectoral investment policy. We analyzed different risk adjusted measures such as t...
-
Sovereign Wealth Funds: Issue of transparency
Directory of Open Access Journals (Sweden)
Petrović Daliborka
2015-01-01
Full Text Available Subject of the paper includes Sovereign Wealth Funds and the formation of the first regulatory framework for their investment activities. Sovereign Wealth Funds invested a significant amount of money in Western financial institutions during the global financial crisis and thus played a crucial role in the preservation and stabilization of the global financial system. However, at the same time, a large gap between the financial power of Sovereign Wealth Funds and the level of their transparency was noted. The need to improve the transparency of Sovereign Wealth Funds has been recognized by international institutions, the OECD and the IMF, which initiated the formulation of the first international regulatory framework regarding the operations of these types of funds. The current international regulatory framework represents a sufficient basis for the gradual improvement of transparency, but because of its non-binding and voluntary nature, certain issues such as the protection of national security interests remain open. Therefore, the solutions can be sought through a process of continuous improvement of international regulation as well as strengthening cooperation between Sovereign Wealth Funds and governments of countries in which they invest.
-
Improvement of Classification of Enterprise Circulating Funds
Rohanova Hanna O.
2014-01-01
The goal of the article lies in revelation of possibilities of increase of efficiency of managing enterprise circulating funds by means of improvement of their classification features. Having analysed approaches of many economists to classification of enterprise circulating funds, systemised and supplementing them, the article offers grouping classification features of enterprise circulating funds. In the result of the study the article offers an expanded classification of circulating funds, ...
-
Phase chemistry and radionuclide retention of high level radioactive waste tank sludges
International Nuclear Information System (INIS)
Krumhansl, James L.; Brady, Patrick V.; Zhang, Pengchu; Arthur, Sara E.; Hutcherson, Sheila K.; Liu, J.; Qian, M.; Anderson, Howard L.
2000-01-01
The US Department of Energy (DOE) has millions of gallons of high level nuclear waste stored in underground tanks at Hanford, Washington and Savannah River, South Carolina. These tanks will eventually be emptied and decommissioned. This will leave a residue of sludge adhering to the interior tank surfaces that may contaminate groundwaters with radionuclides and RCRA metals. Experimentation on such sludges is both dangerous and prohibitively expensive so there is a great advantage to developing artificial sludges. The US DOE Environmental Management Science Program (EMSP) has funded a program to investigate the feasibility of developing such materials. The following text reports on the success of this program, and suggests that much of the radioisotope inventory left in a tank will not move out into the surrounding environment. Ultimately, such studies may play a significant role in developing safe and cost effective tank closure strategies
-
2012-01-01
In this column, the Chairman of the Pension Fund Governing Board (PFGB) presents the Board's latest main decisions, initiatives and accomplishments to the Fund's members and beneficiaries. Since my last report in July, the Fund has continued the implementation of its capital preservation approach with encouraging results. There have also been several communication events focusing, in particular, on the Fund’s governance and its investment processes. At the September sessions of the Finance Committee and Council, the Chairman of the Pension Fund Investment Committee, Dr Sigurd Lettow, gave comprehensive presentations on the governance and operations of the Fund’s Investment Committee. The Investment Committee is the subsidiary and expert body of the PFGB on investments. Its mandate is to define the process according to which the Fund’s assets - which amount to approximately 3.7 billion Swiss Francs - are invested, and to supervise the implem...
-
Investor Attrition and Fund Flows in Mutual Funds
DEFF Research Database (Denmark)
Christoffersen, Susan E. K.; Xu, Haoyu
2017-01-01
We explore the properties of equity mutual funds that experience a loss of assets after poor performance. We document that both inflows and outflows are less sensitive to performance, because performance-sensitive investors leave or decide not to invest after bad performance. Consistent with the ...
-
The Persistence of Mutual Fund Performance.
Grinblatt, Mark; Titman, Sheridan
1992-01-01
This paper analyzes how mutual fund performance relates to past performance. These tests are based on a multiple portfolio benchmark that was formed on the basis of securities characteristics. The authors find evidence that differences in performance between funds persist over time and that this persistence is consistent with the ability of fund managers to earn abnormal returns. Copyright 1992 by American Finance Association.
-
Finding Funding: A Guide to Federal Sources for Asset-Building Initiatives. Finding Funding Series
Lind, Christianne; Relave, Nanette; Schmid, William; Terzaghi, Damon
2009-01-01
This guide outlines strategies for financing asset-building initiatives and provides information on 71 federal funding sources that can be used to support a range of activities and services. It includes well-known sources of funding for asset building, for example, the Assets for Independence Demonstration Program and the Family Self-Sufficiency…
-
Pension Fund - ELECTIONS - Guillermo de la FUENTE
2002-01-01
CERN - EUROPEAN ORGANIZATION FOR NUCLEAR RESEARCH PENSION FUND This candidature has been duly registered and is hereby presented in accordance with paragraph 6.h of the Regulations for Elections to the Governing Board of the Pension Fund. Candidate: Name: de la FUENTE First Name : Guillermo As CERN treasurer with 12 years experience in finance with a background in Economics coupled with a MBA, my main goal will be to enhance the Pension Fund yield. During 3 consecutive years, our Pension Fund has suffered negative real returns:-1.65% in 2000, -4.26% in 2001 and most probably a double-digit loss this year. In addition to that, we spend annually around CHF 6'000'000 in bank charges and external consultants fees. If we do not change this negative trend, the funding ratio of our Pension Fund might become weak. A more proactive internal fund management in conjunction with a performance-related remuneration to external participants would be some of the points I will propose in order...
-
Should uterus transplants be publicly funded?
Wilkinson, Stephen; Williams, Nicola Jane
2016-01-01
Since 2000, 11 human uterine transplantation procedures (UTx) have been performed across Europe and Asia. Five of these have, to date, resulted in pregnancy and four live births have now been recorded. The most significant obstacles to the availability of UTx are presently scientific and technical, relating to the safety and efficacy of the procedure itself. However, if and when such obstacles are overcome, the most likely barriers to its availability will be social and financial in nature, relating in particular to the ability and willingness of patients, insurers or the state to pay. Thus, publicly funded healthcare systems such as the UK's National Health Service (NHS) will eventually have to decide whether UTx should be funded. With this in mind, we seek to provide an answer to the question of whether there exist any compelling reasons for the state not to fund UTx. The paper proceeds as follows. It assumes, at least for the sake of argument, that UTx will become sufficiently safe and cost-effective to be a candidate for funding and then asks, given that, what objections to funding there might be. Three main arguments are considered and ultimately rejected as providing insufficient reason to withhold funding for UTx. The first two are broad in their scope and offer an opportunity to reflect on wider issues about funding for infertility treatment in general. The third is narrower in scope and could, in certain forms, apply to UTx but not other assisted reproductive technologies (ARTs). The first argument suggests that UTx should not be publicly funded because doing so would be inconsistent with governments’ obligations to prevent climate change and environmental pollution. The second claims that UTx does not treat a disorder and is not medically necessary. Finally, the third asserts that funding for UTx should be denied because of the availability of alternatives such as adoption and surrogacy. PMID:26670671
-
Performance Evaluation of Some Index Funds-Indian Perspective
Directory of Open Access Journals (Sweden)
Pranav Mishra
2016-04-01
Full Text Available The popularity of the index funds as an investment option has increased manifolds ever since they were introduced. This is primarily because of the merits that the investor enjoys through passive style of funds management. This includes the low cost involved in managing such funds and the significant tax savings. Most of the researchers have compared the performance of the actively managed funds with that of index funds. However the index funds of US and for that reason other parts of the world are different from that of India. Unlike other countries in India the benchmark indices comprise of very less number of securities and thus are unable to represent the entire economy. So in Indian context comparison of performance of actively managed funds with index funds is not logical. Therefore this paper attempts to make an intra-class performance evaluation of some Indian index funds based on some statistics. The study includes the use of graphical interpretations coupled with statistical tools like R-square and tracking error values. Two models of tracking error have been employed to test empirically the performance of the selected index funds. The study is useful for those interested in mutual funds, which includes researchers, academicians, and financial advisors. The paper suits the requirement and the situations prevalent in Indian economy during the period under study.
-
Directory of Open Access Journals (Sweden)
David L Hudacek
Full Text Available BACKGROUND: Pneumonia, diarrhea and measles are the leading causes of death in children worldwide, but have a disproportionately low share of international funding and media attention. In comparison, AIDS, tuberculosis and malaria--diseases that also significantly affect children--receive considerably more funding and have relatively high media coverage. This study investigates the potential relationship between media agenda setting and funding levels in the context of the actual burden of disease. METHODS: The news databases Lexis Nexis, Factiva, and Google News Archive were searched for the diseases AIDS, TB and Malaria and for lower funded pediatric diseases: childhood pneumonia, diarrhea, and measles. A sample of news articles across geographic regions was also analyzed using a qualitative narrative frame analysis of how the media stories were told. RESULTS: There were significantly more articles addressing the Global Fund diseases compared to the lower funded pediatric diseases between 1981 and 2008 (1,344,150 versus 291,865 articles. There were also notable differences in the framing of media narratives: 1 There was a high proportion of articles with the primary purpose of raising awareness for AIDS, TB and malaria (46.2% compared with only 17.9% of the pediatric disease articles. 2 Nearly two-thirds (61.5% of the AIDS, tuberculosis and malaria articles used a human rights, legal or social justice frame, compared with 46.2% for the lower funded pediatric disease articles, which primarily used an ethical or moral frame. CONCLUSION: This study demonstrates that lower funded pediatric diseases are presented differently in the media, both quantitatively and qualitatively, than higher funded, higher profile diseases.
-
Mutual funds: temporary problem or permanent morass?
Paula A. Tkac
2004-01-01
The improprieties in the mutual fund industry that surfaced in the fall of 2003 prompted the passage and drafting of legislation and regulations that cover nearly every facet of mutual fund pricing and operations. While this regulatory flurry is clearly intended to protect shareholders’ interests, the question remains: How will these scandals and regulatory changes ultimately affect mutual fund investors? ; When considering the problems inherent in mutual fund management and the best ways to ...
-
Do Hedge Funds Supply or Demand Liquidity?
Petri Jylhä; Kalle Rinne; Matti Suominen
2014-01-01
Regressing hedge funds’ returns on returns to a long–short contrarian trading strategy, a measure of the returns from providing liquidity, we find that hedge funds typically supply liquidity in the stock market. In the cross-section, strict redemption restrictions and large fund size increase funds’ propensity to supply liquidity. In time series, poor market liquidity and good funding conditions increase funds’ propensity to supply liquidity. Although the hedge funds typically supply liquidit...
-
76 FR 67021 - Community Development Financial Institutions Fund
2011-10-28
... DEPARTMENT OF THE TREASURY Community Development Financial Institutions Fund Proposed Collection...)). Currently, the Community Development Financial Institutions Fund (the ``CDFI Fund'') within the Department... Development Financial Institutions Fund, U.S. Department of the Treasury, 601 13th Street NW., Suite 200 South...
-
PROJECT ABANDONMENT, CORRUPTION AND RECOVERY OF UNSPENT BUDGETED PUBLIC FUNDS IN NIGERIA
Directory of Open Access Journals (Sweden)
Richard INGWE
2012-06-01
Full Text Available Large amounts of unspent funds budgeted for implementing development projects have been recovered from Nigeria’s public officials since President Yar Adua directed in 2007 that responsible Nigerian Ministries, Departments and Agencies (MDAs must refund such funds at the end of every fiscal year. While unspent funds recovery represents some progress in the “war on corruption” entrenched by previous governments in the 1980s, the current policy limited by concentrating narrowly on recovery of financial resources thereby excluding accounting for other project resources (human skills application, time management or optimization among others that are usually applied to project implementation but lost through public officers’ failure and/or delays to implement planned projects. This article examines the magnitude of unspent funds recently recovered by the government from its various ministries, departments and agencies (MDAs. The general objective of this article is to contribute towards improving the development project management culture in Nigeria. The specific objectives are: To highlight the magnitude of unspent funds in Nigeria’s MDAs; and to show some adverse consequences of failing (or delaying to spend funds allocated in the budget forimplementing projects in economic sectors and on the pursuit of development objectives. Survey and description methods were used. Data on the refund of unspent funds was obtained from secondary sources (records of MDAs and analysed using qualitative and simple quantitative techniques. Results show that a high rate of projects delay and /or abandonment was discovered shortly after the inauguration of President Yar’ Adua and his administration in May 2007. Although some project funds have been recovered, other project resources (time wasted, human skills/hours and development benefits that would have accrued from completion of the planned and financed projects have not been recovered but lost. The fact
-
ELECTIONS PENSION FUND CANDIDATE NR 1
2001-01-01
ORGANISATION EUROPEENNE POUR LA RECHERCHE NUCLEAIRE CERN EUROPEAN ORGANIZATION FOR NUCLEAR RESEARCH CAISSE DE PENSIONS / PENSION FUND Caisse de Pensions - ELECTIONS - Pension Fund This candidature has been duly registered and is hereby presented in accordance with paragraph 6.h of the Regulations for Elections to the Governing Board of the Pension Fund. Candidate : Name : CHIAVERI First Name : Enrico I have been a CERN staff member since 1973 and have always been interested in our working conditions. As a member of the Executive Committee of the Staff Association I participated from 1980 to 1984 in the Working Group on Pensions mandated by the CERN Council. This commitment led to my becoming a member of the Governing Board of the Pension Fund in 1983, since when I have taken an active part in various commissions and working groups (Real Estate Asset Management Committee, Working Group on Actuarial Matters etc.); in so doing I have gained a thorough knowledge of different areas of the Pension Fund. Since ...
-
GOVERNING BOARD OF THE PENSION FUND
2002-01-01
All members and beneficiaries of the Pension Fund are invited to attend the Annual General Asssembly to be held in the CERN Auditorium on Wednesday 2 October 2002 at 14.30 hrs The Agenda comprises: Opening Remarks (P. Levaux) Recent trends in the technical balance of pension funds (C. Cuénoud) Annual Report 2001: Presentation and results (C. Cuénoud) Copies of the Report are available from divisional secretariats. Position of the CERN Pension Fund with respect to market developments (G. Maurin) Questions from members and beneficiaries Persons wishing to ask questions are encouraged to submit them, where possible, in writing in advance, addressed to Mr C. Cuénoud, Administrator of the Fund. Conclusions (P. Levaux) As usual, participants are invited to drinks after the assembly. NB The minutes of the 2001 General Assembly are available from the Administration of the Fund (tel.(+4122)767 9194; e-mail Graziella.Praire@cern.ch)
-
Perspective: Disclosing hidden sources of funding.
Resnik, David B
2009-09-01
In this article, the author discusses ethical and policy issues related to the disclosure of hidden sources of funding in research. The author argues that authors have an ethical obligation to disclose hidden sources of funding and that journals should adopt policies to enforce this obligation. Journal policies should require disclosure of hidden sources of funding that authors know about and that have a direct relation to their research. To stimulate this discussion, the author describes a recent case: investigators who conducted a lung cancer screening study had received funding from a private foundation that was supported by a tobacco company, but they did not disclose this relationship to the journal. Investigators and journal editors must be prepared to deal with these issues in a manner that promotes honesty, transparency, fairness, and accountability in research. The development of well-defined, reasonable policies pertaining to hidden sources of funding can be a step in this direction.
-
Spring report of the Pension Fund
2012-01-01
In this column, the Chairman of the Pension Fund Governing Board (PFGB) will regularly present the latest main decisions, initiatives and accomplishments of the Governing Board to the members and beneficiaries of the Fund. Since my last report in April, I am pleased to report the following progress. On the recommendation of the Finance Committee, the CERN Council approved the updated Financial Regulations of the Fund at its June session, with immediate effect. The approval of the Financial Regulations completes a key part of the regulatory framework of the Fund’s operations. Also in June, the Council approved the Financial Statements of the CERN Pension Fund for 2011. The Financial Statements had been certified by the Italian Court of Audit (CERN’s External Auditor), which gave its report to Council. 2011 was the first year during which the audit-related provisions of the updated Fund Rules were fully implemented. On the investments side, the F...
-
General Meeting of the Pension Fund
HR Department
2008-01-01
All members and beneficiaries of the Pension Fund are invited to attend the Annual General Meetingto be held in the CERN Main Auditorium on Wednesday 22 October 2008 at 14:00 hrs The Agenda comprises: Opening Remarks (F. Ferrini) Results and presentation of the Annual Report 2007 and impact on the Fund of the recent evolution of financial markets (C. Cuénoud) Copies of the 2007 Report are available from departmental secretariats. Activity report of the new Governance of the Pension Fund (F. Ferrini, D. Duret) Questions from members and beneficiaries People wishing to ask questions are encouraged to submit them, where possible, in writing in advance, addressed to Mr C. Cuénoud, Administrator of the Fund. Conclusions (F. Ferrini). As usual, participants are invited to drinks after the meeting. NB\tThe minutes of the 2007 General Meeting are available from the Administration of the Fund (tel. (+ 41 22) 767 27 42; e-mail Barbara.Bordjah@cern.ch)
-
General Meeting of the Pension Fund
HR Department
2008-01-01
All members and beneficiaries of the Pension Fund are invited to attend the Annual General Meeting to be held in the CERN Main Auditorium on Wednesday 22 October 2008 at 14:15 hrs The Agenda comprises: Opening Remarks (F. Ferrini) Results and presentation of the Annual Report 2007 and impact on the Fund of the recent evolution of financial markets (C. Cuénoud) Copies of the 2007 Report are available from departmental secretariats. Activity report of the new Governance of the Pension Fund (F. Ferrini, D. Duret) Questions from members and beneficiaries People wishing to ask questions are encouraged to submit them, where possible, in writing in advance, addressed to Mr C. Cuénoud, Administrator of the Fund.Conclusions (F. Ferrini) As usual, participants are invited to drinks after the Meeting. NB The minutes of the 2007 General Meeting are available from the Administration of the Fund (tel. (+ 41 22) 767 27 42; e-mail mailto:Barbara.Bordjah@cern.ch)
-
Pension Fund
2006-01-01
Amendment No. 22 to the Rules and Regulations of the Pension Fund has just been published and can be obtained from Department/Unit secretariats or, in the case of pensioners, directly from the Administration of the Fund (tel. 767-91 94/27 38), bldg 5, 1-030. This Amendment, which entered into force following the CERN Council's decisions of 16 December 2005, includes the following new articles: Art. II 5.08 : Non-entitlement to Pension for Surviving Spouse Art. II 5.09 : Procurement of an entitlement to Pension for Surviving Spouse Art. II 6.09 : Non-entitlement to Pension for Orphans Art. II 7.01 c) : Entitlement to Allowances Art. III 1.07 : Extension of the contract beyond the age limit of 65 as well as the following amended articles : Article II 1.07 - Contributions Annex B - Fixed sums and allowances
-
2010-04-01
....403 Funding. The cost to change mastermeter systems to individual metering of resident consumption, including the costs of benefit/cost analysis and complete installation of checkmeters, shall be funded from... ASSISTANT SECRETARY FOR PUBLIC AND INDIAN HOUSING, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT PHA-OWNED OR...
-
ANNUAL REPORT OF THE PENSION FUND
HR Department
2009-01-01
The 2008 Annual Report and Accounts of the Pension Fund which was approved by Council at its session of 19 June 2009, is now available from the Departmental secretariats. It is also available on the Pension fund site: http://pensions.web.cern.ch/Pensions/ Pension beneficiaries can obtain this document from Emilie Clerc (tel. + 41 22 767 87 98), building 5-5/017. Secretariat of the Pension Fund 72742
-
Annual Report of the Pension Fund
HR Department
2009-01-01
The 2008 Annual Report and Accounts of the Pension Fund, which were approved by theCouncil at its session of 19 June 2009, are now available from Departmental secretariats. The document is also available on the Pension Fund website: http://pensions.web.cern.ch/Pensions/ Pension beneficiaries can obtain the document from Emilie Clerc (tel. + 41 22 767 87 98), Building 5-5/017. Secretariat of the Pension Fund 72742
-
Annual Report of the Pension Fund
HR Department
2009-01-01
The 2008 Annual Report and Accounts of the Pension Fund which was approved by Council at its session of 19 June 2009, is now available from the Departmental secretariats. It is also available on the Pension fund site: http://pensions.web.cern.ch/Pensions/ Pension beneficiaries can obtain this document from Emilie Clerc (tel. + 41 22 767 87 98), building 5-5/017. Secretariat of the Pension Fund 72742
-
Hedge Funds and Risk-Decoupling
DEFF Research Database (Denmark)
Ringe, Georg
2013-01-01
The law must remain adaptive and responsive to the constantly changing challenges of our society and our business life. One of the most pressing challenges of the past years is the emergence of alternative investment funds, in particular hedge funds, which masterfully exploit the traditional cate...... to the traditional market expectations of shareholders. Based on the insight developed from these policy perspectives, this article develops regulatory reform proposals, particularly with regard to the EU context.......The law must remain adaptive and responsive to the constantly changing challenges of our society and our business life. One of the most pressing challenges of the past years is the emergence of alternative investment funds, in particular hedge funds, which masterfully exploit the traditional...... theoretical perspectives are used as an analytical framework to examine the vast challenges of risk-decoupling: (1) a classical agency costs approach; (2) an information costs perspective; and (3) a view from corporate finance. This Article argues that shareholders with hedged risk exposure do not correspond...
-
Mutual fund volatility timing and management fees
Giambona, E.; Golec, J.
2009-01-01
This paper shows that compensation incentives partly drive fund managers’ market volatility timing strategies. Larger incentive management fees lead to less counter-cyclical or more pro-cyclical volatility timing. But fund styles or aggregate fund flows could also account for this relation;
-
Comparison of investment opportunities in mutual funds
NOVÁKOVÁ, Petra
2012-01-01
This thesis deals with the comparison of selected mutual funds in the Czech Republic. The main aim of this thesis is to evaluate the situation on the securities market of mutual funds and help to the investor with right choice of mutual fund. Work is initially devoted to the characteristics and history of collective investment. The following section describes mutual funds their characteristics, classification, creation and termination. Conclusion of the theoretical part is devoted to investme...
-
Can Chinese Mutual Fund Time Market Liquidity?
LI, Xiaoqing
2012-01-01
Extant researches have focused on mutual fund managers’ ability to time market returns or volatility. In this paper, the author offers a new perspective on the traditional timing issue by examining Chinese fund managers’ liquidity timing ability. Using the Chinese mutual fund database, the author finds little evidence that over the period from 2004 to 2012, fund managers cannot demonstrate the ability to time market liquidity in China, i.e., increase (reduce) market exposure in anticipation o...
-
Financial Crisis and Corporate Social Responsible Mutual Fund Flows
Directory of Open Access Journals (Sweden)
Sitikantha Parida
2018-01-01
Full Text Available In this paper, we investigate investment flows into mutual funds that hold more high corporate social responsible stocks (top CSR funds vs. mutual funds that hold more low corporate social responsible stocks (bottom CSR funds. Using a large sample of equity mutual funds spanning 2003–2012, we find that top CSR funds on average receive about 5% less investment per annum compared to the other funds; whereas bottom CSR funds receive about 5.6% more investments. These relative negative and positive flows into the top and bottom CSR funds respectively were larger during the pre-financial crisis period (2003–2007. This trend, however, reversed during the financial crisis (2008–2009. Top CSR funds attracted about 8.7% more investments during the financial crisis compared to the pre-crisis period; whereas bottom CSR funds received about 9.8% less investment. This higher investment into the top CSR funds during the crisis seems to have disappeared during the post-crisis period (2009–2012. Additional analysis shows that the corporate social ratings of top CSR funds improved through the crisis, whereas it deteriorated for the bottom CSR funds. Our findings are consistent with the “flight to quality” phenomenon observed in financial markets during market crises, indicating that investors perceive top CSR fund investments as relatively safe or of higher quality and hence, invest more in them during financial crises.
-
Elections to the Mutual Aid Fund
2016-01-01
Every two years, according to Article 6 of the Regulations of the Mutual Aid Fund, the Committee of the Mutual Aid Fund must renew one third of its membership. This year three members are outgoing. Of these three, two will stand again and one will not. Candidates should be ready to give approximately two hours a month during working time to the Fund whose aim is to assist colleagues in financial difficulties. We invite applications from CERN Staff who wish to stand for election as a member of the CERN Mutual Aid Fund to send in their application before 17 June 2016, by email to the Fund’s President, Connie Potter (connie.potter@cern.ch).
-
EGYPTIAN MUTUAL FUNDS ANALYSIS: HISTORY, PERFORMANCE, OBJECTIVES, RISK AND RETURN
Directory of Open Access Journals (Sweden)
Petru STEFEA
2013-10-01
Full Text Available The present research aims to overview the mutual fund in Egypt. The establishment of the first mutual funds was achieved in 1994. Nowadays, the total mutual funds reached 90 funds , approximately. The income funds represent the largest share of the Egyptian mutual funds (40%, growth funds (25% and the private equity funds is at least (1%. The total population of the Egyptian mutual funds reached 22. Finally, the study proved that the Egyptian mutual funds have an impact on fund return , total risk and systemic; when analysis relationship between risk and return. The study found influencing for mutual fund's objectives on Sharpe and Terynor ratios.
-
Does our Pension Fund take too many risks?
Association du personnel
2012-01-01
An article in the Tribune de Genève of 22 June entitled “CERN: the Pension Fund takes risks” expressed the “astonishment” of some Swiss experts regarding the CERN Pension Fund’s investment of 500 million dollars in hedge funds (usually the most speculative, alternative, and non-traditional type of funds), representing some 15% of the assets under management. In the article, Mr Théodore Economou, administrator of our Pension Fund, specified that the Fund makes use of alternative investments in a very selective way (ethical criteria, no positions in funds that use only short selling, and with limitations on leverage). Some experts consider that the Fund is taking too many risks. We need to recall that the performance target (3% above inflation, or 5% gross) does not allow the Fund to limit its investments to risk-free products (e.g., the Swiss Confederation’s 30-year bonds have a return of less than 1% per annum). Moreover, take...
-
Does our Pension Fund take too many risks?
Staff Association
2012-01-01
An article in the Tribune de Genève of 22 June entitled “CERN: the Pension Fund takes risks” expressed the “astonishment” of some Swiss experts regarding the CERN Pension Fund’s investment of 500 million dollars in hedge funds (usually the most speculative, alternative, and non-traditional type of funds), representing some 15% of the assets under management. In the article, Mr Théodore Economou, administrator of our Pension Fund, specified that the Fund makes use of alternative investments in a very selective way (ethical criteria, no positions in funds that use only short selling, and with limitations on leverage). Some experts consider that the Fund is taking too many risks. We need to recall that the performance target (3% above inflation, or 5% gross) does not allow the Fund to limit its investments to risk-free products (e.g., the Swiss Confederation’s 30-year bonds have a return of less than 1% per annum). Moreover, tak...
-
76 FR 38432 - TIAA-CREF Funds, et al.; Notice of Application
2011-06-30
... & Income Fund, High-Yield Fund, Inflation-Linked Bond Fund, International Equity Fund, International Equity... Market Fund, Real Estate Securities Fund, Short-Term Bond Fund, Small-Cap Equity Fund; Teachers Advisors..., Growth & Income Fund, High-Yield Fund, Inflation-Linked Bond Fund, International Equity Fund...
-
THE PERFORMANCE OF MUTUAL FUNDS IN SLOVAKIA
Directory of Open Access Journals (Sweden)
F. Tudorache
2016-11-01
Full Text Available A good indicator for the financial markets performance in different countries is the evolution of mutual funds in terms of their inflows and outflows. The goal of the present paper is to analyse the performance of the mutual funds in Slovakia. The research objectives are twofold: to study the flows of funds into and out of mutual funds from Slovakia during the period 2007-2014 and to analyse how investors in Slovakian mutual funds behave in terms of their investment choice. The analysis focuses on identifying patterns in investors' decision making process and on examining the similarity of their behavioural patterns with the ones identi¬fied at international level.
-
Systematic analysis of funding awarded for mycology research to institutions in the UK, 1997-2010.
Head, Michael G; Fitchett, Joseph R; Atun, Rifat; May, Robin C
2014-01-09
Fungal infections cause significant global morbidity and mortality. We have previously described the UK investments in global infectious disease research, and here our objective is to describe the investments awarded to UK institutions for mycology research and outline potential funding gaps in the UK portfolio. Systematic analysis. UK institutions carrying out infectious disease research. Primary outcome is the amount of funding and number of studies related to mycology research. Secondary outcomes are describing the investments made to specific fungal pathogens and diseases, and also the type of science along the R&D value chain. We systematically searched databases and websites for information on research studies from public and philanthropic funding institutions awarded between 1997 and 2010, and highlighted the mycology-related projects. Of 6165 funded studies, we identified 171 studies related to mycology (total investment £48.4 million, 1.9% of all infection research, with mean annual funding £3.5 million). Studies related to global health represented 5.1% of this funding (£2.4 million, compared with 35.6% of all infectious diseases). Leading funders were the Biotechnology and Biological Sciences Research Council (£14.8 million, 30.5%) and Wellcome Trust (£12.0 million, 24.7%). Preclinical studies received £42.2 million (87.3%), with clinical trials, intervention studies and implementation research in total receiving £6.2 million (12.7%). By institution, University of Aberdeen received most funding (£16.9 million, 35%). Studies investigating antifungal resistance received £1.5 million (3.2%). There is little translation of preclinical research into clinical trials or implementation research in spite of substantial disease burden globally, and there are few UK institutions that carry out significant quantities of mycology research of any type. In the context of global health and the burden of disease in low-income countries, more investment is
-
30 CFR 218.152 - Fishermen's Contingency Fund.
2010-07-01
... 30 Mineral Resources 2 2010-07-01 2010-07-01 false Fishermen's Contingency Fund. 218.152 Section 218.152 Mineral Resources MINERALS MANAGEMENT SERVICE, DEPARTMENT OF THE INTERIOR MINERALS REVENUE..., Offshore § 218.152 Fishermen's Contingency Fund. Upon the establishment of the Fishermen's Contingency Fund...
-
Downside Risk Timing by Mutual Funds
Bodnaruk, Andriy; Chokaev, Bekhan; Simonov, Andrei
2015-01-01
We study whether mutual funds systematically manage downside risk of their portfolios in ways that improve their performance. We find that actively managed mutual funds on average possess positive downside risk timing ability. Funds investing in large-cap and value stocks have stronger downside risk timing skills. Managers adjust funds’ downside risk exposure in response to macroeconomic information. The economic value of downside risk timing is comparable to that of market timing.
-
Creative Partnerships for Funding Nursing Research
McCann, Judith J.; Hills, Elizabeth Blanchard; Zauszniewski, Jaclene A.; Smith, Carol E.; Farran, Carol J.; Wilkie, Diana J.
2010-01-01
The Small Business Innovation Research (SBIR) program and the Small Business Technology Transfer Research (STTR) program are two federal funding mechanisms that some nurses in academic positions have used to support research and development of innovative nursing products or services. Both the SBIR and STTR mechanisms are excellent sources of funding for nurse researchers who want to capitalize on relationships with small businesses or obtain seed money to fund high risk projects with potentia...
-
The evolution and regulation of hedge funds.
Crockett, A.
2007-01-01
Hedge funds have attracted increased attention in recent years. In part, this is because investment in hedge funds is becoming “mainstream”. A wider range of investors has sought exposure to these investment vehicles, and this has been associated with rapid growth in both the number of funds and the volume of assets under management. In part, too, greater attention has been the result of worries that hedge funds could in some circumstances exert a destabilizing infl uence. With the growth in ...
-
The following provides a checklist that will help you take advantage of Drinking Water State Revolving Funds. For more detailed information on Drinking Water SRF, see DWSRF in Fed FUNDS. For more information on Clean Water SRF, see CWSRF in Fed FUNDS.
-
Du, Lin
2008-01-01
Mutual funds industry has grown rapidly since 1970s. As one popular type of financial intermediary, mutual fund investment becomes an important player in the financial market globally. The evaluation of mutual fund performance has been achieving a great deal of academic interest since 1960s. There has been a great deal of research which examined whether mutual funds can outperform well-diversified portfolios such as a market index. However, the findings are usually suggestive rather than conc...
-
Funding bombshell hits UK physics
Banks, Michael; Durrani, Matin
2008-01-01
Physicists and astronomers in the UK are coming to terms with a massive funding crisis that engulfed one of the country's main funding agencies last month. As a result of an £80m black hole in the budget of the Science and Technology Facilities Council (STFC), it has decided to stop funding research into the International Linear Collider (ILC), withdraw from the Gemini telescopes in Hawaii and Chile, and cease all support for high-energy gamma-ray astronomy and ground-based solar-terrestrial physics. Research grants in particle physics and astronomy could also be cut by up to 25%, which may lead to job losses at university departments.
-
50 CFR 296.3 - Fishermen's contingency fund.
2010-10-01
... 50 Wildlife and Fisheries 7 2010-10-01 2010-10-01 false Fishermen's contingency fund. 296.3... ADMINISTRATION, DEPARTMENT OF COMMERCE CONTINENTAL SHELF FISHERMEN'S CONTINGENCY FUND § 296.3 Fishermen's contingency fund. (a) General. There is established in the Treasury of the United States the Fishermen's...
-
75 FR 10059 - Money Market Fund Reform
2010-03-04
... contain adverse effects on the capital markets and other money market funds. In addition, throughout the... acquisition of second tier securities by money market funds might have a negative effect on those issuers of...; Treasury Strategies Comment Letter. Commenters asserted that eliminating money market funds' ability to...
-
25 CFR 39.1202 - Distribution of funds.
2010-04-01
... Contract School Operation and Maintenance Fund § 39.1202 Distribution of funds. (a) Each contract school shall receive in fiscal year 1980 a portion of the Contract School Operation and Maintenance Fund determined by the percentage share which that school's fiscal year 1979 operation and maintenance cost...
-
Parker, Emily; Atchison, Bruce; Workman, Emily
2016-01-01
This report highlights significant investments made by both Republican and Democratic policymakers in state-funded pre-k programs for the fourth year in a row. In the 2015-16 budget year, 32 states and the District of Columbia raised funding levels of pre-k programs. This increased support for preschool funding came from both sides of the…
-
E-Commerce New Venture Performance: How Funding Impacts Culture.
Hamilton, R. H.
2001-01-01
Explores the three primary methods of funding for e-commerce startups and the impact that funding criteria have had on the resulting organizational cultures. Highlights include self-funded firms; venture capital funding; corporate funding; and a table that compares the three types, including examples. (LRW)
-
Antioch, Kathryn M; Walsh, Michael K
2004-06-01
Hospitals throughout the world using funding based on diagnosis-related groups (DRG) have incurred substantial budgetary deficits, despite high efficiency. We identify the limitations of DRG funding that lack risk (severity) adjustment for State-wide referral services. Methods to risk adjust DRGs are instructive. The average price in casemix funding in the Australian State of Victoria is policy based, not benchmarked. Average cost weights are too low for high-complexity DRGs relating to State-wide referral services such as heart and lung transplantation and trauma. Risk-adjusted specified grants (RASG) are required for five high-complexity respiratory, cardiology and stroke DRGs incurring annual deficits of $3.6 million due to high casemix complexity and government under-funding despite high efficiency. Five stepwise linear regressions for each DRG excluded non-significant variables and assessed heteroskedasticity and multicollinearlity. Cost per patient was the dependent variable. Significant independent variables were age, length-of-stay outliers, number of disease types, diagnoses, procedures and emergency status. Diagnosis and procedure severity markers were identified. The methodology and the work of the State-wide Risk Adjustment Working Group can facilitate risk adjustment of DRGs State-wide and for Treasury negotiations for expenditure growth. The Alfred Hospital previously negotiated RASG of $14 million over 5 years for three trauma and chronic DRGs. Some chronic diseases require risk-adjusted capitation funding models for Australian Health Maintenance Organizations as an alternative to casemix funding. The use of Diagnostic Cost Groups can facilitate State and Federal government reform via new population-based risk adjusted funding models that measure health need.
-
Pension Fund Investment Policy
Zvi Bodie
1988-01-01
The purpose of this paper is to survey what is known about the investment policy of pension funds. Pension fund investment policy depends critically on the type of plan: defined contribution versus defined benefit. For defined contribution plans investment policy is not much different than it is for an individual deciding how to invest the money in an Individual Retirement Account (IRA). The guiding principle is efficient diversification, that is, achieving the maximum expected return for any...
-
Alberta Heritage Savings Trust Fund : 1998 annual report
International Nuclear Information System (INIS)
1999-01-01
A review of the Alberta Heritage Savings Trust Fund as it operated under the new investment framework established in 1997 was presented. The new statutory mission of the Fund is to provide stewardship of the savings from Alberta's non-renewable resources by providing the greatest financial returns on those savings for current and future generations of Albertans. In 1998, the Fund earned $947 million in income with nearly $25 million of income being retained to ensure that the value of the Fund grows to off-set the effects of inflation. Net assets of the Fund on March 31, 1998 was $ 12.3 billion. Operation of the Fund, the accounting method used, and details about the Transition Portfolio and the Endowment Portfolio are provided. An assessment of Alberta's economic climate accompanies the auditor's report and the detailed financial statements of the Fund. tabs
-
Barrenho, Eliana; Miraldo, Marisa; Shaikh, Mujaheed; Atun, Rifat
2017-01-01
Background International and domestic funding for malaria is critically important to achieve the Sustainable Development Goals. Its equitable distribution is key in ensuring that the available, scarce, resources are deployed efficiently for improved progress and a sustained response that enables eradication. Methods We used concentration curves and concentration indices to assess inequalities in malaria funding by different donors across countries, measuring both horizontal and vertical equity. Horizontal equity assesses whether funding is distributed in proportion to health needs, whereas vertical equity examines whether unequal economic needs are addressed by appropriately unequal funding. We computed the Health Inequity Index and the Kakwani Index to assess the former and the latter, respectively. We used data from the World Bank, Global Fund, Unicef, President’s Malaria Initiative and the Malaria Atlas Project to assess the distribution of funding against need for 94 countries. National gross domestic product per capita was used as a proxy for economic need and ‘population-at-risk’ for health need. Findings The level and direction of inequity varies across funding sources. Unicef and the President’s Malaria Initiative were the most horizontally inequitable (pro-poor). Inequity as shown by the Health Inequity Index for Unicef decreased from −0.40 (P0.10) in 2006 to −0.38 (P<0.05) in 2008, and decreased to −0.36 (P<0.10) in 2010. Domestic funding was inequitable (pro-rich) with inequity increasing from 0.28 (P<0.01) in 2006 to 0.39 (P<0.01) in 2009, and then decreasing to 0.22 (P<0.10) in 2010. Funding from the World Bank and the Global Fund was distributed proportionally according to need. In terms of vertical inequity, all sources were progressive: Unicef and the President’s Malaria Initiative were the most progressive with the Kakwani Indices ranging from −0.97 (P<0.01) to −1.29 (P<0.01), and −0.90 (P<0.01) to −1.10 (P<0
-
Ensuring the Availability of Funds (Germany)
International Nuclear Information System (INIS)
Warnecke, Ernst; Paul, Michael
2006-01-01
1 - Legislation and regulation pertinent to funding: no site / facility specific legislation / regulation (Decommissioning Guideline); the obligation for D+D results from the Atomic Energy Act; the AtG requires a license for D + D of a nuclear facility; the Commercial Code requires reserves for liabilities; the Income Tax Law (EStG) is relevant for the taxation of reserves; the 'Ordinance on Advance Payments' is relevant for the construction of RW disposal facilities; the AtG is relevant for the payment of RW disposal costs. 2 - Financing system: Basic Principle: Polluter pays; Publicly funded facilities (mainly Federal Government): payment from annual budget; Privately owned facilities: collection of 'reserves' during operation / linear accumulation over 25 years, coverage: processing, storage and disposal of radioactive waste/spent fuel, D + D of nuclear facilities, reserves are in the portfolio of industry, financial risk lies with the operator; Availability of private funds: annual review / revision of the cost calculations by the operator, review of cost calculations by tax authorities. 3 - Costs: Cost calculation by the operator are based on detailed planning, need to be assessed conservatively. D + D cost calculation (as of 1999): ca. 300 x 10 6 Euro (1200 MW PWR, excl. disposal), ca. 350 x 10 6 Euro (800 MW BWR excl. disposal), ca. 700 x 10 6 Euro (incl. disposal of non-heat generating waste), immediate dismantling is slightly cheaper than deferred dismantling. Review and decision on adequacy of cost calculation by tax authorities. 4 - Experience: A lot of experience (public and private) has been gained, Experience is good, funds were available. 5 - Changing conditions - new challenges: Termination of nuclear energy generation, New approach to waste disposal, Privatisation of utilities, Liberalisation of energy market. Does the existing funding system need improvement?: Reconsideration of the existing situation, Exploration of potential improvements
-
[Targeted public funding for health research in the Netherlands].
Viergever, Roderik F; Hendriks, Thom C C
2014-01-01
The Dutch government funds health research in several ways. One component of public funding consists of funding programmes issued by the Netherlands Organisation for Health Research and Development (ZonMw). The majority of ZonMw's programmes provide funding for research in specific health research areas. Such targeted funding plays an important role in addressing knowledge gaps and in generating products for which there is a need. Good governance of the allocation of targeted funding for health research requires three elements: a research agenda, an overview of the health research currently being conducted, and a transparent decision-making process regarding the distribution of funds. In this article, we describe how public funding for health research is organized in the Netherlands and how the allocation of targeted funds is governed. By describing the questions that the current model of governance raises, we take a first step towards a debate about the governance of targeted public funding for health research in the Netherlands.
-
Hedge Funds As a Alternative Investment Opportunities
Directory of Open Access Journals (Sweden)
Michał Falkowski
2009-09-01
Full Text Available Hedge fund which became a popular alternative investment is a collective term for different types of investment fund. A common feature of these funds is that they have absolute earnings targets, that is they set targets for earnings irrespective of developments on, for example, the stock exchange. The paper deals with the current problem of the financial crisis and the effect it made worldwide for many institutional and private investors. It discusses the role played by hedge funds in developments on the financial markets, and to what extent they are affected by the effects of the crisis, as a recurring feature of every financial crisis. It also shows a wind range of strategies used by hedge funds to achieve their goal.
-
Investment Fund Governance: An empirical investigation of Luxembourg UCITS
Hazenberg, Jan
2012-01-01
Investment funds potentially suffer from the conflict of interest between investors and fund management companies. Fund boards could help mitigate this conflict. In Luxembourg, the second largest fund domicile globally, fund boards are not required to have independent board members. Nevertheless, many firms have independent board members on their fund boards. The research question investigated is whether or not boards with (more) independent board members are more effective for investors,...
-
Ultrametricity in Fund of Funds Diversification
Susinno, Gabriele; Miceli, Maria Augusta
2003-01-01
Minimum market transparency requirements impose Hedge Fund (HF) managers to use the statement declared strategy in practice. However each declared strategy may actually origin a multiplicity of implemented management decisions. Is then the "actual "strategy the same as the "announced" strategy? Can the actual strategy be monitored or compared to the actual strategy of HF belonging to the same "announced" class? Can the announced or actual strategy be used as a quantitative argument in the fun...
-
Adequacy Model for School Funding
Banicki, Guy; Murphy, Gregg
2014-01-01
This study considers the effectiveness of the Evidence-Based Adequacy model of school funding. In looking at the Evidence-Based Adequacy model for school funding, one researcher has been centrally associated with the development and study of this model. Allen Odden is currently a professor in the Department of Educational Leadership and Policy…
-
Incentive Contracts and Hedge Fund Management
Jens Carsten Jackwerth; James E. Hodder
2005-01-01
This paper investigates dynamically optimal risk-taking by an expected-utility maximizing manager of a hedge fund. We examine the effects of variations on a compensation structure that includes a percentage management fee, a performance incentive for exceeding a specified highwater mark, and managerial ownership of fund shares. In our basic model, there is an exogenous liquidation barrier where the fund is shut down due to poor performance. We also consider extensions where the manager can vo...
-
34 CFR 682.419 - Guaranty agency Federal Fund.
2010-07-01
... deposit into the Federal Fund— (1) All funds, securities, and other liquid assets of the reserve fund that... assets of the Federal Fund and the earnings on those assets are, at all times, the property of the United... earnings on the Federal Fund; (8) Revenue derived from the Federal portion of a nonliquid asset, in...
-
General meeting of the Pension Fund
HR Department
2009-01-01
All members and beneficiaries of the Pension Fund are invited to attend the Annual General Meeting to be held in the CERN Council Room on Wednesday 9 September 2009 from 14:00 to 16:30 p.m. The Agenda comprises: 1.\tOpening Remarks - F. Ferrini 2.\tResults and presentation of the Annual Report 2008. - C. Cuénoud Recent evolution of financial markets. 2009-2010 work plan - T. Economou. Copies of the 2008 Report are available from departmental secretariats. 3.\tReport on Funding policy and principles of the Pension Fund: Working Group 2 Report. - F. Ferrini 4.\tQuestions from members or beneficiaries Persons wishing to ask questions are encouraged to submit them, where possible, in writing in advance, addressed to the secretariat of the Pension Fund. 5.\tConclusions - F. Ferrini As usual, participants are invited to drinks after the Meeting. NB\tThe minutes of the 2008 General Meeting are available from the Administration of the Fund (tel. + 41 22 767 27 42 ; e-mail mailto:Sevda.Budun-Kocaturk@cern.ch
-
General Meeting Of The Pension Fund
HR Department
2009-01-01
All members and beneficiaries of the Pension Fund are invited to attend the Annual General Meeting to be held in the CERN Council Chamber on Wednesday 9 September 2009 from 14:00 to 16:30 p.m. The Agenda comprises: 1.\tOpening Remarks - F. Ferrini 2.\tResults and presentation of the Annual Report 2008. - C. Cuénoud Recent evolution of financial markets. 2009-2010 work plan - T. Economou. Copies of the 2008 Report are available from Departmental secretariats. 3.\tReport on funding policy and principles of the Pension Fund: Working Group 2 Report. - F. Ferrini 4.\tQuestions from members and beneficiaries Persons wishing to ask questions are encouraged to submit them, where possible, in writing in advance, addressed to the Secretariat of the Pension Fund. 5.\tConclusions - F. Ferrini As usual, participants are invited to drinks after the meeting. NB\tThe minutes of the 2008 General Meeting are available from the Administration of the Fund (tel. + 41 22 767 27 42 ; e-mail mailto:Sevda.Budun-Kocaturk@cern.ch
-
General meeting of the Pension Fund
HR Department
2009-01-01
All members and beneficiaries of the Pension Fund are invited to attend the Annual General Meeting to be held in the CERN Council Room on Wednesday 9 September 2009 from 14:00 to 16:30 p.m. The Agenda comprises: 1.\tOpening Remarks - F. Ferrini 2.\tResults and presentation of the Annual Report 2008. - C. Cuénoud Recent evolution of financial markets. 2009-2010 work plan - T. Economou. Copies of the 2008 Report are available from departmental secretariats. 3.\tReport on Funding policy and principles of the Pension Fund: Working Group 2 Report. - F. Ferrini 4.\tQuestions from members or beneficiaries Persons wishing to ask questions are encouraged to submit them, where possible, in writing in advance, addressed to the secretariat of the Pension Fund. 5.\tConclusions - F. Ferrini As usual, participants are invited to drinks after the Meeting. NB\tThe minutes of the 2008 General Meeting are available from the Administration of the Fund (tel. + 41 22 767 27 42 ; e-mail mailto:Sevda.Budun-Kocaturk@cern.ch)
-
Governing Board of the Pension Fund
HR Department
2007-01-01
The Governing Board of the Pension Fund held its one-hundred-and-fifty-second and one-hundred-and-fifty-third meetings on 18 April and 15 May 2007 respectively. The latter was a full-day joint meeting with the Investment Committee. At the first of the two meetings on 18 April, the Chairman of the Governing Board, Professor F. Ferrini, reported on the outcome of the Finance Committee meeting and the Council Session of March 2007. The Council had taken note of a progress report by the Chairman of the Study Group on CERN Pension Fund Governance, Mr P. Levaux, had expressed satisfaction at the Study Group's progress and was now looking forward to the proposal, largely bearing on the Pension Fund's bodies and their composition, which is due to be submitted to the Council for approval at its June 2007 Session. At the same meeting, the Governing Board approved the Annual Report and Accounts of the Fund for 2006 and thanked the Fund's Administration for the substantial work entailed in providing the reader with a...
-
Governing Board of the Pension Fund
2006-01-01
The Governing Board of the Pension Fund held its 142nd meeting on 14 March 2006. As an introduction to the meeting, the Administrator underlined that, at 12.4%, the performance achieved by the Fund on its assets had been excellent and had taken the Fund's assets at the end of the year to 4,209 MCHF, which was well above the 4 billion Swiss franc mark. The Chairman of the Governing Board, Professor Ferrini, reported on the Board's closed session on 7 March to examine the nominations received for the election of the Vice-Chairmen of the Governing Board of the Pension Fund. The Governing Board had unanimously agreed to recommend the CERN Council to appoint Mr A. J. Naudi and Dr J.-P. Matheys. At its session on 16 March 2006, the Council had followed the recommendation of the Governing Board by re-appointing J.-P. Matheys and A. J. Naudi Vice-Chairmen of the Board until the end of their respective terms of office as members of the Governing Board. Regarding the comparison with other European pension funds launc...
-
Governing Board of the Pension Fund
2007-01-01
The Governing Board of the Pension Fund held its one hundred and fifty seventh meeting on 5 September 2007. Among the items on its agenda was a report by the Chairwoman of the Working Group on Actuarial Matters, D. Duret, on the two meetings the Group had held during the summer, on 24 July and 31 August respectively, to discuss the latest three-yearly actuarial review. She noted that the actuarial review took account of the following elements for the first time: the amendments to the Rules of the Fund approved at the end of 2006, according to which, as long as the funding ratio of the Fund is less than 100% in 2033, only part of the pension adjustment assumption of the reference model is taken into consideration, on the understanding that the accumulated loss of purchasing power incurred by a beneficiary or any dependents in the event of his death must not exceed 8%; a new method for assessing the active membership of the Fund, which makes a distinction between personnel ho...
-
Governing Board of the Pension Fund
2007-01-01
The Governing Board of the Pension Fund held its one hundred and fifty seventh meeting on 5 September 2007. Among the items on its agenda was a report by the Chairwoman of the Working Group on Actuarial Matters, D. Duret, on the two meetings the Group had held during the summer, on 24 July and 31 August respectively, to discuss the latest three-yearly actuarial review. She noted that the actuarial review took account of the following elements for the first time: -\tthe amendments to the Rules of the Fund approved at the end of 2006, according to which, as long as the funding ratio of the Fund is less than 100% in 2033, only part of the pension adjustment assumption of the reference model is taken into consideration, on the understanding that the accumulated loss of purchasing power incurred by a beneficiary or any dependents in the event of his death must not exceed 8%; -\ta new method for assessing the active membership of the Fund, which makes a distinction between personnel holding a fixed-term contract, pe...
-
GOVERNING BOARD OF THE PENSION FUND
All members and beneficiaries of the Pension Fund are invited to attend the Annual General Asssembly to be held in the CERN Auditorium on Wednesday 8 October 2003 at 14.30 hrs The Agenda comprises: 1. Opening RemarksJ. Bezemer 2. Annual Report 2002: Presentation and results Copies of the Report are available from divisional secretariats.C. Cuénoud 3. Overview of the present situation with regard to pension funds C. Cuénoud 4. Performance of the Fund since the year 2000 and aspects of the ongoing asset/liability modelling exercise G. Maurin 5. Questions from members and beneficiaries Persons wishing to ask questions are encouraged to submit them, where possible, in writing in advance, addressed to Mr C. Cuénoud, Administrator of the Fund. 6. Conclusions J. Bezemer As usual, participants are invited to drinks after the assembly. NB The minutes of the 2002 General Assembly are available from the Administration of the Fund tel.(+4122)767 27 42; e-mail Sophia.Revol@cern.ch) SOME ASPECTS OF THE FU...
-
Governing Board of the Pension Fund
2005-01-01
The Governing Board of the Pension Fund held its one-hundred-and-thirty-second and one-hundred-and-thirty-third meetings on 16 February and 10 March respectively. The first of these meetings was primarily devoted to the further examination of the proposed measures to reduce the Fund's technical deficit. The Governing Board underlined that it was equally determined to find solutions to the structural problems that had an impact on the Fund's technical deficit. A statement to that effect was to be made by the Chairman of the Governing Board, J. Bezemer, at the March session of the CERN Council. Indeed, it would appear that in the light of the new actuarial parameters, in particular the technical interest rate of 4.5%, it is first necessary to stabilise the current funding ratio of 88%, which will fall to 61% in 30 years' time if no action is taken. In an initial stage, corrective measures must therefore be taken in order to prevent a further fall in the funding ratio. Subsequently, the objective will be to re...
-
12 CFR 1206.5 - Working capital fund.
2010-01-01
... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Working capital fund. 1206.5 Section 1206.5... Working capital fund. (a) Assessments. The Director shall establish and collect from the Regulated Entities such assessments he or she deems necessary to maintain a working capital fund. (b) Purposes...
-
The peer performance ratios of hedge funds
Ardia, David; Boudt, Kris
2018-01-01
We define the outperformance (resp. underperformance) of an investment fund as the percentage of funds in the peer universe for which the true performance of the focal fund is higher (resp. lower). We show that the p–values of the pairwise tests of equal performance can be used to obtain estimates
-
24 CFR 891.808 - Capital advance funds.
2010-04-01
... 24 Housing and Urban Development 4 2010-04-01 2010-04-01 false Capital advance funds. 891.808... Partnerships and Mixed-Finance Development for Supportive Housing for the Elderly or Persons with Disabilities § 891.808 Capital advance funds. (a) HUD is authorized to provide capital advance funds to expand the...
-
24 CFR 1003.400 - Criteria for funding.
2010-04-01
... tribal or Federal funding sources cannot be made available to alleviate the threat. (c) HUD will... 24 Housing and Urban Development 4 2010-04-01 2010-04-01 false Criteria for funding. 1003.400... Grants § 1003.400 Criteria for funding. The following criteria apply to requests for assistance under...
-
44 CFR 208.45 - Advance of funds.
2010-10-01
... Agreements § 208.45 Advance of funds. At the time of Activation of a Task Force, the Task Force will develop... advance of funds will not include any costs for equipment purchase. ... 44 Emergency Management and Assistance 1 2010-10-01 2010-10-01 false Advance of funds. 208.45...
-
Federal Funding Accountability and Transparency Act
Public Law 109-282, the Federal Funding Accountability and Transparency Act of 2006 as amended (FFATA), requires disclosure of all entities and organizations receiving Federal funds through a single publicly accessible website.
-
Incomplete information and the closed-end fund discount
Barone-Adesi, Giovanni; Kim, Youngsoo
2008-01-01
We model the closed-end fund discount/premium in a version of Merton’s (1978) asset pricing model with incomplete information. In this economy, investors trade only assets which they “ know about” . The model generates a closed-end fund discount or premium, depending on risk-aversion parameters. The fund share price reverts to the net asset value on open-ending of the fund. The discount/premium is a result of two economic forces: (1) the fund manager’s objective is to maximize expected utilit...
-
Life cycle versus balanced funds: An emerging market perspective
Directory of Open Access Journals (Sweden)
Elbie Louw
2017-08-01
Full Text Available Background: Inadequate retirement savings is an international challenge. Additionally, individuals are not cognisant of how asset allocation choices ultimately impact retirement savings. Life cycle and balanced funds are popular asset allocation strategies to save towards retirement. However, recent research is questioning the efficacy of life cycle funds that switch to lower risk asset classes as retirement approaches. Aim: The purpose of this study is to compare the performance of life cycle funds with balanced funds to determine whether either dominates the other. The study compares balanced and life cycle funds with similar starting asset allocations as well as those where the starting asset allocations differ. Setting: The study has a South African focus and constructs funds using historical data for the main local asset classes; that is, equity, fixed income and cash, as well as a proxy for foreign equity covering the period 1986–2013. Method: The study makes use of Monte Carlo simulations and bootstrap with replacement, and compares the simulated outcomes using stochastic dominance as decision-making criteria. Results: The results indicate that life cycle funds fail to dominate balanced funds by first-order or almost stochastic dominance when funds have a similar starting asset allocation. It is noteworthy that there are instances where the opposite is true, that is, balanced funds dominate life cycle funds. These results highlight that while the life cycle funds provide more downside protection, they significantly suppress the upside potential compared to balanced funds. When the starting asset allocations of the balanced and life cycle funds differ, the stochastic dominance results are inconsistent as to the efficacy of the life cycle fund strategies considered. Conclusion: The study shows that whether one fund is likely to dominate the other is strongly dependent on the underlying asset allocation strategies of the funds
-
78 FR 26489 - Consumer Financial Civil Penalty Fund
2013-05-07
... administrative action under Federal consumer financial laws. Under the Act, funds in the Civil Penalty Fund may... Bureau may require a party that has violated the law to pay a civil penalty. See, e.g., 12 U.S.C. 5565... or any other provision of law bars the Bureau from using funds in the Civil Penalty Fund for such...
-
Funding for international family planning attacked.
Kaeser, L
1997-08-01
US funding for foreign assistance has been jeopardized in recent years in the context of dwindling public support for foreign aid. To stymie the provision of international family planning program assistance and services overseas, Congressional opponents of family planning and abortion are offering amendments to foreign aid legislation at every possible opportunity. State Department reauthorization legislation is the current target of family planning opponents' efforts. Reauthorization is the process by which Congress indicates its ongoing support for a program, makes any necessary changes, and sets new funding ceilings. The global gag rule joined UNFPA funding cuts on the 1997 State Department reauthorization bill, H.R. 1757, which passed the House of Representatives in early June. If successfully appended to the State Department bill, the gag rule would prevent the US from funding any organization in a developing country which provides legal abortion services or communicates with its government on abortion-related policy, regardless of whether that organization used its own non-US funds. These restrictions and cuts to international family planning program assistance could adversely affect family planning programs, leading to less contraceptive use and higher rates of abortion, maternal morbidity, and maternal mortality. President Bill Clinton has promised to veto the bill if both houses of Congress accept the restrictions. These issues will probably arise on the annual appropriations legislation which funds US operations overseas.
-
Amazon Fund: financing deforestation avoidance
Directory of Open Access Journals (Sweden)
Jacques Marcovitch
2014-06-01
Full Text Available The Amazon Fund, created in 2008 by the Brazilian Federal Government, is managed by Banco Nacional de Desenvolvimento Econômico e Social (BNDES. It is a pioneering initiative to fundraise and manage financial resources to cut back deforestation and support sustainable development for 30 million inhabitants in the Amazon Biome. The Amazon Fund has already received more than R$ 1.7 billion in grants (about USD 787 million. This essay analyzes the Amazon Fund's governance and management with focus on its operation and from its stakeholders' perspectives. A combination of research methods includes: documental research, in-depth interviews, and speech analysis. The study offers a comparative analysis of strengths and weaknesses related to its governance. Furthermore, it proposes ways to improve its management towards greater effectiveness. The essay also includes an assessment of the government of Norway, a major donor to the fund. The governments of Norway and Germany, in partnership with Brazil, reveal how important it is to experiment with new means of international cooperation to successfully reduce greenhouse gas emissions through rainforest preservation.
-
NEN Division Funding Gap Analysis
International Nuclear Information System (INIS)
Esch, Ernst I.; Goettee, Jeffrey D.; Desimone, David J.; Lakis, Rollin E.; Miko, David K.
2012-01-01
The work in NEN Division revolves around proliferation detection. The sponsor funding model seems to have shifted over the last decades. For the past three lustra, sponsors are mainly interested in funding ideas and detection systems that are already at a technical readiness level 6 (TRL 6 -- one step below an industrial prototype) or higher. Once this level is reached, the sponsoring agency is willing to fund the commercialization, implementation, and training for the systems (TRL 8, 9). These sponsors are looking for a fast turnaround (1-2 years) technology development efforts to implement technology. To support the critical national and international needs for nonprolifertion solutions, we have to maintain a fluent stream of subject matter expertise from the fundamental principals of radiation detection through prototype development all the way to the implementation and training of others. NEN Division has large funding gaps in the Valley of Death region. In the current competitive climate for nuclear nonproliferation projects, it is imminent to increase our lead in this field.
-
Han, Liwei; Wang, Yueyun; He, Wenbin; Zhang, Junjie; Bi, Minggang; Shang, Hongcai; Shang, Deyang; Wang, Chang'en
2012-03-01
The applications accepted and approved by general program, young scientist fund and fund for less developed region of national natural science funds in the discipline of Chinese materia medica, NSFC in 2011 have been introduced. The character and problems in these applications have been analyzed to give a reference to the scientists in the field of Chinese material medica.
-
36 CFR 222.10 - Range betterment fund.
2010-07-01
... 36 Parks, Forests, and Public Property 2 2010-07-01 2010-07-01 false Range betterment fund. 222.10... MANAGEMENT Grazing and Livestock Use on the National Forest System § 222.10 Range betterment fund. In... also be accomplished through use of the range betterment fund as follows: (a) On National Forest land...
-
Federal funding for syringe exchange in the US: Explaining a long-term policy failure.
Showalter, David
2018-05-01
The United States prohibited federal funding for syringe exchange programs for people who inject drugs nearly continuously from 1988 to 2015, despite growing scientific evidence, diminishing AIDS-related controversy, and tens of thousands of deaths from injection-related AIDS. This study investigates the political and institutional bases of this long-term failure to support lifesaving public policy. This study draws on national, regional, and local media coverage, archival sources, and semi-structured, in-depth interviews with 6 long-time syringe exchange researchers and activists from California. I use case-oriented process tracing methods to explain the persistence and reform of the federal funding ban. Though previous studies focus on the symbolic clash between conservative morality and empirical science, I find that changing demographic and regional inequalities in the effects of the AIDS epidemic and dynamics produced by the federal structure of US government were more important factors in the creation and persistence of the funding ban. The persistence and eventual repeal of the ban on federal funding for syringe exchange was a product of the changing demographic, geographic, and political effects of the AIDS epidemic within the federal structure of US government, rather than a consequence of intractable morality politics. These contextual dynamics continue to shape AIDS and public health policy at all levels of government. Copyright © 2018. Published by Elsevier B.V.
-
On the behavior of mutual fund investors and managers
Goriaev, A.P.
2002-01-01
This thesis investigates empirically and theoretically the behavior of mutual fund investors and managers. These two aspects are closely related to each other. Investors try to select funds that follow an optimal investment policy from their point of view, while fund managers are typically interested in maximizing net fund inflows. In the first part of the thesis, we analyze the determinants of mutual fund flows, concentrating on the impact of past performance on fund flows. In particular, we...
-
Clean Water State Revolving Fund Infographic
Infographic of the CWSRF program showing total project funding from 1987 through 2015, number of loans, how the program works, who is eligible for assistance, types of projects funded, and return on federal investment.
-
Resolving the International Monetary Fund's Legitimacy Crisis
DEFF Research Database (Denmark)
Seabrooke, Leonard
2006-01-01
Since the Asian financial crisis of 1997-1998 the International Monetary Fund (the Fund) has been embroiled in an international crisis of legitimacy. Assertions of a crisis are premised on the notions that the Fund's voting system is unfair, and that the Fund enforces homogenous policies onto...... borrowing member states and that loan programs tend to fail. Seen this way, poor institutional and policy design has led to a loss of legitimacy. But institutionalised inequalities or policy failure is not in itself sufficient to constitute an international crisis of legitimacy. This article provides...... a conceptually-driven discussion of the sources of the Fund's international crisis of legitimacy by investigating how its formal "foreground" institutional relations with its member states have become strained, and how informal "background" political and economic relationships are expanding in a way...
-
2014-01-01
Recommendations from the External Auditors to the CERN Pension Fund Management on the Financial Statements of the CERN Pension Fund for the Financial Year 2013 and comments from the CERN Pension Fund Management
-
Social Security Funds Clamor for Reform
Institute of Scientific and Technical Information of China (English)
郑秉文
2008-01-01
This paper analyzed the institutional deficiencies inherent in China’s social security system based on a dissection of various social security fund violations. It holds that the unscientific design in social security system is the root cause for social security fund violations, which is reflected in low level of social security unification, irrational investment system and legislative loopholes etc. Currently, China’s social security funds are facing risks in management and in system; The key of risk control lies in the reforming of the overall framework of social security system through the following aspects: 1) readjust the unified account system structure to raise the level of unification; 2) reform funds investment system to boost ROI; 3) speeding up legislative to regulate the administrative costs and the behaviors of its entities.
-
2013-06-20
... Operations, and Funding Operations; Liquidity and Funding; Effective Date AGENCY: Farm Credit Administration... amends its liquidity regulation to strengthen liquidity risk management at Farm Credit System (System) banks, improve the quality of assets in their liquidity reserves, and bolster the ability of System...
-
HR Department
2008-01-01
Note The CERN pension scheme is based on the principle of defined benefits, so beneficiaries continue to receive the benefits to which they are entitled in accordance with the Rules of the Pension Fund. This means that pension entitlements under the Rules are not directly affected by the financial crisis and the current economic situation. However, the adjustment of pensions to the cost of living is not automatic and, under the method applied since 2006, must take into account the Fund’s financial position. Meeting of the Pension Fund Governing Board The Pension Fund Governing Board held its eighth meeting at ESO in Garching, Germany (near Munich) on 24 October 2008. Before starting its work, the Governing Board had the privilege of hearing an opening address by Professor Tim de Zeeuw, the Director General of ESO. Professor de Zeeuw described the mission of ESO and the ambitious projects of his organisation, which performs astronomy observations using telescopes located in...
-
HR Department
2008-01-01
Note The CERN pension scheme is based on the principle of defined benefits, so beneficiaries continue to receive the benefits to which they are entitled in accordance with the Rules of the Pension Fund. This means that pension entitlements under the Rules are not directly affected by the financial crisis and the current economic situation. However, the adjustment of pensions to the cost of living is not automatic and, under the method applied since 2006, must take into account the Fund’s financial position. Meeting of the Pension Fund Governing Board The Pension Fund Governing Board held its eighth meeting at ESO in Garching (near Munich), Germany on 24 October 2008. Before starting its work, the Governing Board had the privilege of hearing an opening address by Professor Tim de Zeeuw, the Director General of ESO. Professor de Zeeuw described the mission of ESO and the ambitious projects of his organisation, which performs astronomy observations using telescopes located in Chile. The Director-General receiv...
-
HR Department
2008-01-01
On 16 March and 7 May, the Pension Fund Governing Board (PFGB) held its fourth and fifth meetings The first of these meetings was primarily dedicated to the examination of the strategic asset allocation. The PFGB reaffirmed the main goal of the new strategic asset allocation: to improve the Pension Fund’s position with regard to risk by lowering overall portfolio volatility through suitable investments in less volatile asset classes such as real estate and absolute return strategies, where the return does not depend on market trends and negative growth is extremely unlikely. The finalised document will be presented to the Finance Committee and the Council at their June meetings for approval, in accordance with the provisions of the Levaux report. The PFGB also took note of the Internal Audit’s report on Pension Fund operations and decided to refer it to Working Group I as a working document for establishing a control and internal monitoring system for Pension Fund oper...
-
46 CFR 308.509 - Collateral deposit fund.
2010-10-01
... 46 Shipping 8 2010-10-01 2010-10-01 false Collateral deposit fund. 308.509 Section 308.509... Risk Cargo Insurance Ii-Open Policy War Risk Cargo Insurance § 308.509 Collateral deposit fund. (a) Requirements. An assured electing to use a cash collateral deposit fund pursuant to § 308.507 shall comply with...
-
How To Run an Effective Fund-Raiser.
Lemieux, Russell A.
1994-01-01
The growing scarcity of money for schools and school-related groups has forced many administrators and parent-teacher organizations to seek alternative sources of funds. One of the most effective methods is a fund-raising campaign selling products. More than 2,000 fund-raising companies that supply products and provide a variety of services and…
-
Overview and comparison of international practices on funding mechanisms
International Nuclear Information System (INIS)
Tchapga, Flavien
2006-01-01
Although the Funding Mechanisms of Decommissioning and Dismantling (D and D) of Nuclear Power Plants (NPP) has recently gained a growing interest, this is not only a new but also an old issue. The issue is old because National Atomic Laws and/or other Nuclear Legislation recognized the mandatory character of D and D. Consequently accumulation of funds to cover the future D and D expenses is a legal requirement since the beginning of Nuclear Energy Industry, at least in countries with a market economy. The issue is new as well because many of the large commercial NPP may reach the end of their lifetime during the next twenty years. As a result, the growing interest on D and D Funding Mechanisms is justified since the funds accumulated should cover the related expenses if any. Despite this growing interest, there is however a lack, at least at the NEA level, of an updated survey of existing Funding Mechanisms. Because Electric utilities are experiencing deregulation movement, there is also a lack of a 'comparison framework' which takes into account this new context, and within which the effectiveness of current Funding Mechanisms could be assessed. In the field of NPP decommissioning, funding mechanisms refer to the overall process of financing future D and D operations. Therefore, one can expect a funding mechanism to organize some relevant functions regarding D and D financing. These functions are, 1) the recognition of the liabilities and the estimation of the related financial burden, 2) the collection of the corresponding financial resources 3) the management and disbursement of those resources when needed. In fact, the mandatory character of D and D suggest that an effective Funding Mechanism should provide availability of funds. This is to say the funds collected should be managed in a consistent way regarding their protection against financial insecurity. Since there is no investment without risk, availability of funds is properly a matter of degree
-
The Governing Board of the Pension Fund
2007-01-01
The Governing Board of the Pension Fund held its 151st meeting on 7 March at which the Legal Service reported on the ILOAT's judgment concerning an appeal lodged by a beneficiary against the CERN Council's decision to index his pension by 0% for 2005. The Governing Board noted with satisfaction that the appeal had been rejected. The ILOAT recognised that the CERN Council, which had followed the Governing Board's recommendation, had been entitled to take this decision as an 'urgent protective measure' in respect of the Fund's financial position. At the same meeting, the members of the Governing Board expressed their opinions on the report by the consultancy firm Mercer which had been entrusted with the task of comparing the CERN Pension Fund with a sample of similar European funds. It endorsed the CERN Management's opinion that Mercer had not been in a position to make a pertinent comparison between the CERN Pension Fund and other pension funds, and concurred with the conclusions presented by the Management....
-
7 CFR 240.10 - Unobligated funds.
2010-01-01
... than 30 days following demand by FNS. Release of funds shall be reflected by a related adjustment in the State agency's Letter of Credit where appropriate or payment by State check where the funds have...
-
Cancer Moonshot Funding Obligations FY 2017
NCI reports Cancer Moonshot obligations by funding mechanism. See obligations for Moonshot grants, intramural research, and contracts, including the number of grant awards, funding amounts, and percentages by mechanism of the total Cancer Moonshot budget.
-
Cash Management in the Defense Working Capital Funds
National Research Council Canada - National Science Library
1997-01-01
... (formerly the Defense Business Operations Fund) was identified during our audit of the Fund Balance With Treasury Account of the FY 1996 Consolidated Financial Statements of the Defense Business Operations Fund...
-
Funding the right care and support for everyone: creating a fair and transparent funding system.
2011-01-01
The United Kingdom Secretary of State for Health commissioned an independent review of palliative care funding in the nation. The review team consisting of Tom Hughes-Hallet, Professor Sir Alan Craft, Catherine Davies, Isla Mackay, and Tilde Nielsson filed its report with funding recommendations on July 1, 2011. A summary of the report is presented.
-
The Adaptation Fund: a model for the future?
Energy Technology Data Exchange (ETDEWEB)
Chandani, Achala; Harmeling, Sven; Kaloga, Alpha Oumar
2009-08-15
With millions of the poor already facing the impacts of a changing climate, adaptation is a globally urgent – and costly – issue. The Adaptation Fund, created under the Kyoto Protocol, has unique features that could herald a new era of international cooperation on adaptation. Its governance structure, for instance, offers a fresh approach to fund management under the UN climate convention. The Fund's Board has also developed a constructive working atmosphere, and further progress is expected before the 2009 climate summit in Copenhagen. But developing countries' demand for adaptation funding is huge: conservative estimates put it at US$50 billion a year. The Fund's current structure and funding base are clearly only a first step towards filling that gap. And despite its significant progress over the last 18 months, many countries, particularly in the developed world, remain sceptical about this approach. Looking in detail at the Fund's evolution offers insight into its future potential as a model for adaptation finance.
-
Drinking Water State Revolving Fund Infographic
Infographic of the DWSRF program showing total project funding from 1997 through 2016, number of loans, how the program works, who is eligible for assistance, loan terms; types of projects funded, and return on federal investment.
-
A Brief History of California School Funding
Canfield, Jacquie
2013-01-01
In January 2013, the governor proposed a new funding model for California school districts called the Local Control Funding Formula. As the Legislature debates the proposed new funding model for schools, which is expected to start in the 2013-14 fiscal year, the author thought it would be a good time for a history lesson in California school…
-
Current Developments in Community College Performance Funding
D'Amico, Mark M.; Friedel, Janice N.; Katsinas, Stephen G.; Thornton, Zoë M.
2014-01-01
Since the initiation of performance funding in Tennessee in the late 1970s, approximately 30 states have, at some point, attempted a funding model that includes performance on a set of indicators. The purpose of the present study was to capture the current status of performance funding in public statewide community college systems and to assess…
-
Lorenz curves in a new science-funding model
Huang, Ding-wei
2017-12-01
We propose an agent-based model to theoretically and systematically explore the implications of a new approach to fund science, which has been suggested recently by J. Bollen et al.[?] We introduce various parameters and examine their effects. The concentration of funding is shown by the Lorenz curve and the Gini coefficient. In this model, all scientists are treated equally and follow the well-intended regulations. All scientists give a fixed ratio of their funding to others. The fixed ratio becomes an upper bound for the Gini coefficient. We observe two distinct regimes in the parameter space: valley and plateau. In the valley regime, the fluidity of funding is significant. The Lorenz curve is smooth. The Gini coefficient is well below the upper bound. The funding distribution is the desired result. In the plateau regime, the cumulative advantage is significant. The Lorenz curve has a sharp turn. The Gini coefficient saturates to the upper bound. The undue concentration of funding happens swiftly. The funding distribution is the undesired results, where a minority of scientists take the majority of funding. Phase transitions between these two regimes are discussed.
-
Risk management in Swedish hedge funds
Fri, Samuel; Nilsson, Joakim
2011-01-01
Background: Risk management has always been a complex topic, especially when it comes to hedge funds. Since hedge funds are able to utilize many kinds of financial instruments it is difficult to find a risk management strategy that goes well with them. Not much research regarding the Swedish hedge fund industry and its risk management has been done; hence we find it an interesting topic to focus this thesis on. Purpose: The purpose of this thesis is to increase the knowledge of how Swedish he...
-
2013-05-08
... Operations, and Funding Operations; Liquidity and Funding; Correction AGENCY: Farm Credit Administration... the Federal Register on April 18, 2013 to strengthen liquidity risk management at Farm Credit System (System) banks, improve the quality of assets in their liquidity reserves, and bolster the ability of...
-
Venture funding for science-based African health innovation.
Masum, Hassan; Chakma, Justin; Simiyu, Ken; Ronoh, Wesley; Daar, Abdallah S; Singer, Peter A
2010-12-13
While venture funding has been applied to biotechnology and health in high-income countries, it is still nascent in these fields in developing countries, and particularly in Africa. Yet the need for implementing innovative solutions to health challenges is greatest in Africa, with its enormous burden of communicable disease. Issues such as risk, investment opportunities, return on investment requirements, and quantifying health impact are critical in assessing venture capital's potential for supporting health innovation. This paper uses lessons learned from five venture capital firms from Kenya, South Africa, China, India, and the US to suggest design principles for African health venture funds. The case study method was used to explore relevant funds, and lessons for the African context. The health venture funds in this study included publicly-owned organizations, corporations, social enterprises, and subsidiaries of foreign venture firms. The size and type of investments varied widely. The primary investor in four funds was the International Finance Corporation. Three of the funds aimed primarily for financial returns, one aimed primarily for social and health returns, and one had mixed aims. Lessons learned include the importance of measuring and supporting both social and financial returns; the need to engage both upstream capital such as government risk-funding and downstream capital from the private sector; and the existence of many challenges including difficulty of raising capital, low human resource capacity, regulatory barriers, and risky business environments. Based on these lessons, design principles for appropriate venture funding are suggested. Based on the cases studied and relevant experiences elsewhere, there is a case for venture funding as one support mechanism for science-based African health innovation, with opportunities for risk-tolerant investors to make financial as well as social returns. Such funds should be structured to overcome the
-
Reiser, Leonore; Berardini, Tanya Z; Li, Donghui; Muller, Robert; Strait, Emily M; Li, Qian; Mezheritsky, Yarik; Vetushko, Andrey; Huala, Eva
2016-01-01
Databases and data repositories provide essential functions for the research community by integrating, curating, archiving and otherwise packaging data to facilitate discovery and reuse. Despite their importance, funding for maintenance of these resources is increasingly hard to obtain. Fueled by a desire to find long term, sustainable solutions to database funding, staff from the Arabidopsis Information Resource (TAIR), founded the nonprofit organization, Phoenix Bioinformatics, using TAIR as a test case for user-based funding. Subscription-based funding has been proposed as an alternative to grant funding but its application has been very limited within the nonprofit sector. Our testing of this model indicates that it is a viable option, at least for some databases, and that it is possible to strike a balance that maximizes access while still incentivizing subscriptions. One year after transitioning to subscription support, TAIR is self-sustaining and Phoenix is poised to expand and support additional resources that wish to incorporate user-based funding strategies. Database URL: www.arabidopsis.org. © The Author(s) 2016. Published by Oxford University Press.
-
Fund allocation using capacitated vehicle routing problem
Mamat, Nur Jumaadzan Zaleha; Jaaman, Saiful Hafizah; Ahmad, Rokiah Rozita; Darus, Maslina
2014-09-01
In investment fund allocation, it is unwise for an investor to distribute his fund into several assets simultaneously due to economic reasons. One solution is to allocate the fund into a particular asset at a time in a sequence that will either maximize returns or minimize risks depending on the investor's objective. The vehicle routing problem (VRP) provides an avenue to this issue. VRP answers the question on how to efficiently use the available fleet of vehicles to meet a given service demand, subjected to a set of operational requirements. This paper proposes an idea of using capacitated vehicle routing problem (CVRP) to optimize investment fund allocation by employing data of selected stocks in the FTSE Bursa Malaysia. Results suggest that CRVP can be applied to solve the issue of investment fund allocation and increase the investor's profit.
-
GOVERNING BOARD OF THE PENSION FUND
2001-01-01
The Governing Board held its one-hundred-and-first meeting on 5 June, during which it took note of the external auditors' report on the accounts of the Fund for the financial year 2000, and the comments by the Administration of the Fund on the report. It should be noted in this regard that, in the light of a remark by the auditors regarding the procedures followed by the Fund in paying out transfer values, the Governing Board decided to propose to the CERN Council at its December session a change in the wording of Article II 1.13 of the Rules and Regulations so as to bring it into line with the Fund's regular practices. The effect on the Fund of the introduction of the new salary scales was considered and a small working group was commissioned to undertake the necessary technical adjustments. The Governing Board then heard a report by the Chairman of the Investment Committee on its meeting of 3 May 2001. G. Maurin stated that the Committee members had agreed to invite a second consultants' firm to carry out a...
-
Cancer communication science funding trends, 2000-2012.
Ramírez, A Susana; Galica, Kasia; Blake, Kelly D; Chou, Wen-Ying Sylvia; Hesse, Bradford W
2013-12-01
Since 2000, the field of health communication has grown tremendously, owing largely to research funding by the National Cancer Institute (NCI). This study provides an overview of cancer communication science funding trends in the past decade. We conducted an analysis of communication-related grant applications submitted to the NCI in fiscal years 2000-2012. Using 103 keywords related to health communication, data were extracted from the Portfolio Management Application, a grants management application used at NCI. Automated coding described key grant characteristics such as mechanism and review study section. Manual coding determined funding across the cancer control continuum, by cancer site, and by cancer risk factors. A total of 3307 unique grant applications met initial inclusion criteria; 1013 of these were funded over the 12-year period. The top funded grant mechanisms were the R01, R21, and R03. Applications were largely investigator-initiated proposals as opposed to responses to particular funding opportunity announcements. Among funded communication research, the top risk factor being studied was tobacco, and across the cancer control continuum, cancer prevention was the most common stage investigated. NCI support of cancer communication research has been an important source of growth for health communication science over the last 12 years. The analysis' findings describe NCI's priorities in cancer communication science and suggest areas for future investments.
-
Philanthropy as a source of funding for nursing initiatives.
Kleinpell, Ruth M; Start, Rachel; McIntosh, Erik; Worobec, Sophia; Llewellyn, Jane
2014-01-01
Nurse leaders are challenged with ensuring that research and evidence-based practices are being integrated into clinical care. Initiatives such as the Magnet Recognition Program have helped reinforce the importance of advancing nursing practices to integrate best practices, conduct quality improvement initiatives, improve performance metrics, and involve bedside nurses in conducting research and evidence-based practice projects. While seeking research funding is an option for some initiatives, other strategies such as seeking funding from grateful patients or from philanthropic resources are becoming important options for nurse leaders to pursue, as the availability of funding from traditional sources such as professional organizations or federal funding becomes more limited. In addition, more institutions are seeking and applying for funding, increasing the pool of candidates who are vying for existing funding. Seeking alternative sources of funding, such as through philanthropy, becomes a viable option. This article reviews important considerations in seeking funding from philanthropic sources for nursing initiatives. Examples from a multiyear project that focused on promoting a healthy work environment and improving nursing morale are used to highlight strategies that were used to solicit, obtain, and secure extension funding from private foundation funding to support the initiative.
-
How membership of the CERN Pension Fund is taken into account by certain French Pension Funds
HR Department
2010-01-01
Information for current and former CERN staff members from the Rhône-Alpes branch of the Caisse Régionale d’Assurance Maladie (CRAM) The Rhône-Alpes branch of the Caisse Régionale d’Assurance Maladie (CRAM) has recently informed CERN that, since 1 January 2010, periods of membership of the CERN Pension Fund can, under certain conditions, be used in the calculation of the pension paid by certain French pension funds. For more information on this subject, please consult Circular DSS/DACI/2010/85 of 4 March 2010 pertaining to the manner in which periods of membership of compulsory pension funds of European or international organisations, to which France is a party, are taken into account in determining the period used by French pension funds to establish the pension entitlement. The Circular can be accessed at the following sites: http://www.securite-sociale.fr/textes/retraite/international/affiliation_instut_international_eu.htm and http://www.c...
-
7 CFR 3419.2 - Matching funds.
2010-01-01
... Regulations of the Department of Agriculture (Continued) COOPERATIVE STATE RESEARCH, EDUCATION, AND EXTENSION SERVICE, DEPARTMENT OF AGRICULTURE MATCHING FUNDS REQUIREMENT FOR AGRICULTURAL RESEARCH AND EXTENSION FORMULA FUNDS AT 1890 LAND-GRANT INSTITUTIONS, INCLUDING TUSKEGEE UNIVERSITY, AND AT 1862 LAND-GRANT...
-
Risoldi Cochrane, Zara; Gregory, Philip; Wilson, Amy
2012-01-01
The Internet has become an extremely prevalent means of communicating health information to consumers. Guidelines for selecting reliable health information websites give preference to U.S. government sites over commercially funded sites. However, these websites are not useful to consumers unless they are able to read and understand them. The authors' objective was to compare the readability of Internet health information intended for consumers found on U.S. government-funded websites versus that found on commercially funded websites. Consumer health websites were identified through a systematic Internet search. Webpages for 10 common health topics were extracted from each website. Readability of webpages was determined by 3 validated measures: Flesch Reading Ease, Flesch-Kincaid Reading Level, and SMOG Formula. Mean readability of government-funded and commercially funded websites was compared using the Mann-Whitney U test. Commercially funded websites were significantly more difficult to read as measured by Flesch Reading Ease (49.7 vs. 55.6 for government-funded sites, p = .002) and Flesch-Kincaid Reading Level (10.1 vs. 9.3, p = .012). There was no significant difference according to SMOG Formula (12.8 vs. 13.2, p = .150). The overall readability of Internet health information intended for consumers was poor. Efforts should be made to ensure that health information communicated via the Internet is easy for consumers to read and understand.
-
Using Investment Funds to Support Advancements in Healthcare
Nawar, Anthony
2017-01-01
The topic of this thesis is about using investment funds to support advancements in healthcare. The structure is designed to identify the relevant elements in a funding strategy that can be used to support healthcare companies likely to produce usable solutions. The research objective is to establish a proper investment fund strategy that supports healthcare. Additionally, it is positioned to highlight the dynamic components that outline the viable fund. The preliminary scope of the ...
-
Measurement of Accountability Management of Village Funds
Yunita, Anggraeni; Christianingrum
2018-01-01
The purpose of this study is to measure the accountability of village funds management in Kabupaten Bangka. In relation to the Village Funds program which is a government program, the measurement of accountability of Village Funds management uses accountability principles consisting of Transparency, Liability, Controlling, Responsibility and Responsiveness which are the principles of accountability developed by the United Nations Development Program in measuring bureaucratic accountability. T...
-
Trading Cost Management of Mutual Funds
R. Xing (Rang)
2016-01-01
textabstractThis paper documents the trading behaviour of actively managed equity mutual funds from the perspective of their trading cost management. Consistent with the predictions in the literature of portfolio choice with trading costs, I present three main findings. Firstly, mutual funds trade
-
28 CFR 42.734 - Alternative funding.
2010-07-01
... 28 Judicial Administration 1 2010-07-01 2010-07-01 false Alternative funding. 42.734 Section 42.734 Judicial Administration DEPARTMENT OF JUSTICE NONDISCRIMINATION; EQUAL EMPLOYMENT OPPORTUNITY...; Implementation of the Age Discrimination Act of 1975 Compliance Procedures § 42.734 Alternative funding. When...
-
The political origin of pension funding
Perotti, E.; Schwienbacher, A.
2007-01-01
This paper argues that historical political preferences on the role of capital markets shaped national choices on pension reliance on private funding. Under democratic voting, a majority will support investor protection and a privately funded pension system when the middle class has significant
-
75 FR 12407 - Capital Magnet Fund
2010-03-15
... of financial institutions to provide capital, credit and financial services in underserved markets... Part IV Department of the Treasury Community Development Financial Institutions Fund 12 CFR Part... TREASURY Community Development Financial Institutions Fund 12 CFR Part 1807 RIN 1559-AA00 Capital Magnet...
-
76 FR 39474 - Monthly Median Cost of Funds Reporting, and Publication of Cost of Funds Indices
2011-07-06
... Semiannual Cost of Funds Index (SCOF), and other related cost of funds ratios currently published monthly in... discussed in this notice, please contact Jim Caton, Managing Director--Economic and Industry Analysis, at... Thrift Financial Report (TFR): \\2\\ \\2\\ Copies of the reporting forms and instructions for the TFR (OMB No...
-
2011-01-05
.... SUMMARY: On December 22, 2010, HUD posted on http://www.Grants.gov its Notice of Funding Availability... publication announces that HUD has posted on http://www.Grants.gov a technical correction that, most... Fund grant.'' The revised NOFA can be found and downloaded from http://www.Grants.gov , using the CFDA...
-
Governing Board of the Pension Fund
2007-01-01
All members and beneficiaries of the Pension Fund are invited to attend the Annual General Meeting to be held in the CERN Main Auditorium on Thursday 8 November 2007 at 2 p.m. The Agenda comprises: 1.\tOpening Remarks (F. Ferrini) 2.\tResults and presentation of the Annual Report 2006 (C. Cuénoud) (Copies of the 2006 Report are available from Departmental secretariats). 3.\tNew Governance of the Pension Fund (D. Duret) 4.\tQuestions from members and beneficiaries Persons wishing to ask questions are encouraged to submit them in writing in advance, where possible, to Mr C. Cuénoud, Administrator of the Fund. 5.\tConclusions (F. Ferrini) As usual, participants are invited to drinks after the Meeting. NB The minutes of the 2006 General Meeting are available from the Administration of the Fund (tel.(+4122)767 27 42; e-mail Sophia.Revol@cern.ch)
-
General meeting of the Pension Fund
CERN Pension Fund
2010-01-01
All members and beneficiaries of the Pension Fund are invited to attend the Annual General Meeting to be held in the CERN Council Room on Monday 6 September 2010 from 14:00 to 16:30 p.m. The Agenda comprises: Opening Remarks - F. Ferrini Presentation of the 2009 Financial Statements - T. Economou Copies of the 2009 Financial Statements are available from Departmental Secretariats. Management Update - T. Economou Report by the Chairman of the Pension Fund Governing Board - F. Ferrini Questions from members and beneficiaries Persons wishing to ask questions are encouraged to submit them, where possible, in writing in advance, addressed to the Secretariat of the Pension Fund. Conclusions - F. Ferrini As usual, participants are invited to drinks after the Meeting. NB\tThe minutes of the 2009 General Meeting are available from the Administration of the Fund (tel. + 41 22 767 27 42 ; e-mail Barbara.Brugger@cern.ch)
-
Board diversity and self-regulation in Dutch pension funds
Shi, Lin; Swinkels, Laurens; Lecq, Fieke
2016-01-01
markdownabstractPurpose - The purpose of this paper is to examine the change in pension fund board diversity after self-regulation was introduced, and investigate which pension fund characteristics influence compliance with self-regulation. In addition, the authors analyze whether compliance might be achieved by tokenism. Design/methodology/approach - The authors hand-collect pension fund and pension fund board data of the largest (by assets) 200 pension funds in the Netherlands. The authors ...
-
Mandatory portfolio disclosure, stock liquidity, and mutual fund performance
Agarwal, Vikas; Mullally, Kevin Andrew; Tang, Yuehua; Yang, Baozhong
2014-01-01
We examine the impact of mandatory portfolio disclosure by mutual funds on stock liquidity and fund performance. We develop a model of informed trading with disclosure and test its predictions using the SEC regulation in May 2004 requiring more frequent disclosure. Stocks with higher fund ownership, especially those held by more informed funds or subject to greater information asymmetry, experience larger increases in liquidity after the regulation change. More informed funds, especially thos...
-
Energy Technology Data Exchange (ETDEWEB)
Ryan, Thomas K.; Schneider, J.W.
2016-07-01
To many researchers the ability to secure external competitive funding is a basic premise for engaging in substantial research activities and subsequent career progression. In many countries competitive funding is increasingly incentivised, but like other social activities in science, funding success is skewed with marked cumulative advantages to those who already have (Merton, 1968). The ability to obtain competitive funding is clearly connected with prestige, nevertheless, while “money is money”, funding instruments supporting “curiositydriven”, “blue sky” research1 may still be more appealing and prestigious to many researchers. Such funding instruments are typically less restrictive in their calls on matters such as research topics, collaborative requirements and societal impact. The latter requirements are often present in more strategic funding programmes and especially the European Framework Programmes have stipulated a social contract between science and society in Europe, increasingly requiring research to be oriented towards addressing social, economic, cultural, and political challenges. Application for such “challenged-oriented” international research funding is perceived by some as over-complicated and too resource demanding and anecdotal evidence from Denmark suggests that high performing research groups opt to bypass such calls because they prefer and indeed are able to secure sufficient “curiosity-driven” funding with less obligations (UFM Report, 2015). (Author)
-
26 CFR 701.9006-1 - Presidential Election Campaign Fund.
2010-04-01
... 26 Internal Revenue 20 2010-04-01 2010-04-01 false Presidential Election Campaign Fund. 701.9006-1...) INTERNAL REVENUE PRACTICE PRESIDENTIAL ELECTION CAMPAIGN FUND § 701.9006-1 Presidential Election Campaign Fund. (a) Transfer of amounts to the Presidential Election Campaign Fund. The Secretary shall determine...
-
Danish Mutual Fund Performance - Selectivity, Market Timing and Persistence
DEFF Research Database (Denmark)
Christensen, Michael
Funds under management by Danish mutual funds have increased by 25% annually during the last 10 years and measured per capita Denmark has the third largest mutual fund industry in Europe. This paper provides the first independent performance analysis of Danish mutual funds. We analyse selectivity...
-
Funding of Geosciences: Coordinating National and International Resources
Bye, B.; Fontaine, K. S.
2012-12-01
Funding is an important element of national as well as international policy for Earth observations. The Group on Earth Observations (GEO) is coordinating efforts to build a Global Earth Observation System of Systems, or GEOSS. The lack of dedicated funding to support specific S&T activities in support of GEOSS is one of the most important obstacles to engaging the S&T communities in its implementation. This problem can be addressed by establishing explicit linkages between research and development programmes funded by GEO Members and Participating Organizations and GEOSS. In appropriate funding programs, these links may take the form of requiring explanations of how projects to be funded will interface with GEOSS and ensuring that demonstrating significant relevance for GEOSS is viewed as an asset of these proposals, requiring registration of Earth observing systems developed in these projects, or stipulating that data and products must adhere to the GEOSS Data Sharing Principles. Examples of Earth observations include: - Measurements from ground-based, in situ monitors; - Observations from Earth satellites; - Products and predictive capabilities from Earth system models, often using the capabilities of high-performance computers; - Scientific knowledge about the Earth system; and, - Data visualization techniques. These examples of Earth observations activities requires different types of resources, R&D top-down, bottom-up funding and programs of various sizes. Where innovation and infrastructure are involved different kind of resources are better suited, for developing countries completely other sources of funding are applicable etc. The European Commission funded Egida project is coordinating the development of a funding mechanism based on current national and international funding instruments such as the European ERANet, the new Joint Programming Initiatives, ESFRI as well as other European and non-European instruments. A general introduction to various
-
PERFORMANCE AND CHARACTERISTICS OF MUTUAL FUNDS: EVIDENCE FROM THE PORTUGUESE MARKET
Directory of Open Access Journals (Sweden)
Júlio Lobão
2015-12-01
Full Text Available In this paper we aim to study the relation between fund performance and fund attributes in the Portuguese market. The sample includes 124 equity funds, bond funds and money market funds that traded in the 2004-2011 period. A comprehensive set of fund-specific characteristics, never used before in conjunction in the literature, was considered. The methodology which was adopted had two distinct phases. Firstly, we compared the returns of each category of funds with the appropriate reference markets. Secondly, the fund performance, measured by the Jensen’s alpha, was used in a multi-factor model with panel data in which the independent variables were the fund attributes. The results show that Portuguese funds were, in general, not able to beat the benchmarks which is consistent with the existence of efficient financial markets. Only the fixed income mutual funds performed well. Moreover, it is possible to conclude that, for each category of mutual funds, their characteristics are useful to the investor in the moment of choosing the best funds. For example, in the case of funds that invest in Portuguese stocks, the best performance occurs among older and larger funds, funds with higher costs, funds with good past performance and funds whose trading activity is low.
-
Venture funding for science-based African health innovation
Directory of Open Access Journals (Sweden)
Daar Abdallah S
2010-12-01
Full Text Available Abstract Background While venture funding has been applied to biotechnology and health in high-income countries, it is still nascent in these fields in developing countries, and particularly in Africa. Yet the need for implementing innovative solutions to health challenges is greatest in Africa, with its enormous burden of communicable disease. Issues such as risk, investment opportunities, return on investment requirements, and quantifying health impact are critical in assessing venture capital’s potential for supporting health innovation. This paper uses lessons learned from five venture capital firms from Kenya, South Africa, China, India, and the US to suggest design principles for African health venture funds. Discussion The case study method was used to explore relevant funds, and lessons for the African context. The health venture funds in this study included publicly-owned organizations, corporations, social enterprises, and subsidiaries of foreign venture firms. The size and type of investments varied widely. The primary investor in four funds was the International Finance Corporation. Three of the funds aimed primarily for financial returns, one aimed primarily for social and health returns, and one had mixed aims. Lessons learned include the importance of measuring and supporting both social and financial returns; the need to engage both upstream capital such as government risk-funding and downstream capital from the private sector; and the existence of many challenges including difficulty of raising capital, low human resource capacity, regulatory barriers, and risky business environments. Based on these lessons, design principles for appropriate venture funding are suggested. Summary Based on the cases studied and relevant experiences elsewhere, there is a case for venture funding as one support mechanism for science-based African health innovation, with opportunities for risk-tolerant investors to make financial as well as social
-
2012-07-30
International Security Assistance Force Dr . S. Ken Yamashita USAID Mission Director for Afghanistan This report discusses the results of the Office...committees, in addition to AIF, Congress noted that State planned to fund AIP projects by reprogramming existing foreign assistance resources to...availability by up to 25-27 megawatts (MW)22 and extended availability to two previously underserved areas of Kandahar City in the west and southeast
-
Spillover Effects of Marketing in Mutual Fund Families
M.J.C.M. Verbeek (Marno); J.J. Huij (Joop)
2007-01-01
textabstractThis paper investigates the presence of spillover effects of marketing in mutual fund families. We find that funds with high marketing expenses generate spillovers, and enhance cash inflows to family members with low marketing expenses. In particular, low-marketing funds that are
-
48 CFR 3432.771 - Provision for incremental funding.
2010-10-01
... 48 Federal Acquisition Regulations System 7 2010-10-01 2010-10-01 false Provision for incremental funding. 3432.771 Section 3432.771 Federal Acquisition Regulations System DEPARTMENT OF EDUCATION..., Incremental Funding, in a solicitation if a cost-reimbursement contract using incremental funding is...
-
Decentralised Portfolio Management: Analysis of Australian Accumulation Funds
Hazel Bateman; Susan Thorp
2005-01-01
In Australia, pension fund trustees choose investment managers on behalf of members. We investigate the structure and performance of delegated investment choice in the Australian retirement incomes sector. We find that funds where trustees employ many managers generate higher risk-adjusted returns over the 3 year sample than those with few, but funds with 13 or fewer managers show no improvement over funds with a single diversified manager. All do worse than a benchmark portfolio of asset cla...
-
Unconventional funding of urban public transport
Ubbels, B.J.; Nijkamp, P.
2002-01-01
In the past decade public authorities have developed a wealth of creative funding mechanisms to support transit systems. This paper offers a taxonomy of various unconventional funding mechanisms (i.e. outside the domain of charges for transit passengers or general taxation schemes), based on a
-
2013-11-18
... designed to ensure that all notices required to be sent to a Fund's shareholders pursuant to section 19(a... graphical format: (1) The amount of the distribution, on a per common share basis, together with the amounts... history of operations is less than five years, the time period commencing immediately following the Fund's...
-
25 CFR 39.102 - What is academic base funding?
2010-04-01
... 25 Indians 1 2010-04-01 2010-04-01 false What is academic base funding? 39.102 Section 39.102... PROGRAM Indian School Equalization Formula Base and Supplemental Funding § 39.102 What is academic base funding? Academic base funding is the ADM times the weighted student unit. ...
-
Federal Research and Development Funding: FY2009
2009-05-22
are funded through the NIH Management Fund, financed by taps on other NIH appropriations.) President Bush’s FY2009 budget proposal gave most of the... Alchemy of the 21st Century,” remarks, Texas Academy of Medicine, Engineering and Science Fourth Annual Conference, Austin, Texas, January 4, 2007...significant decrease in financing for MEP. Funding for in-house research and development under the Scientific and Technology Research and Services (STRS
-
Directory of Open Access Journals (Sweden)
Tom Northey
2013-07-01
Full Text Available This article describes a project delivered by Jessie’s Fund, a UK charity which supports children through music therapy and creative music work. The project took place between January and July 2012 and involved staff and pupils from a special school in the north of England. The article describes briefly how music is delivered in special schools across the UK and explains some of the challenges Jessie’s Fund has faced in having a lasting impact on how schools cover the music curriculum for children with complex needs. In 2012 Jessie’s Fund partnered with a special school in the north of England to design a new approach which focused intensively on the development needs of staff. Jessie’s Fund musicians visited pairs of staff over a period of six months to build their skills and confidence in leading music sessions with their pupils. The project was considerably more effective than some previous ‘musician-led’ activities and had a significant, whole-school impact. This article describes the work that took place, the responses from the staff involved and how Jessie’s Fund intends to use this learning for future projects.
-
Problems of Funding Russian Colleges and the Budget Reform
Svetlana Soljannikova
2006-01-01
The government policy in the sphere of funding colleges should pursue the following two goals: first, to improve the mechanism of funding colleges from the budget, and second, to diversify the sources of funding for the sector. The article analyzes different means and models for the funding of colleges. The drawbacks of the current mechanism for funding colleges from the budget are considered, and the reasons for these problems are discussed. The problems of establishing standards of per capi...
-
76 FR 30286 - Community Development Revolving Loan Fund
2011-05-25
... Revolving Loan Fund AGENCY: National Credit Union Administration (NCUA). ACTION: Proposed rule. SUMMARY..., evaluates, and acts on credit union applications seeking loans and technical assistance grants from the Community Development Revolving Loan Fund (CDRLF or Fund). The proposed changes update the current rule to...
-
A Continuous Improvement Capital Funding Model.
Adams, Matt
2001-01-01
Describes a capital funding model that helps assess facility renewal needs in a way that minimizes resources while maximizing results. The article explains the sub-components of a continuous improvement capital funding model, including budgeting processes for finish renewal, building performance renewal, and critical outcome. (GR)
-
Legislative Update: Georgia School Funding Update.
Holmes, C. Thomas; Sielke, Catherine C.
2000-01-01
Fully 40 percent ($5 billion) of Georgia's FY 2000 general funds budget is for K-12 education. There is increased funding for a homestead exemption, expansion of the HOPE (higher education) Scholarship Program, capital outlay projects, remedial assistance programs, and instruction of limited-English speaking students. (MLH)
-
Toward advising SME's on stacked funding
Rauwerda, Kirsten; van Teeffelen, Lex; de Graaf, Frank Jan
2017-01-01
This paper addresses new funding issues faced by SMEs. Over a period of nine months, the authors conducted a preliminary study into the problems surrounding stacked funding faced by SMEs and their financial advisers. The study includes a short literature review, the outcomes of three round table
-
Administration of the Fund
2001-01-01
The Administration of the Fund has just signed a contract with the 'La Suisse' insurance company, making life insurance available to persons leaving CERN under very similar conditions to those offered to the members of the CERN personnel. From now on, persons retiring from the Organization will be able to take out this new insurance at the moment of retirement, provided that they have been members of CERN's collective life insurance scheme for the last five years of service. Exceptionally, until the end of 2001, 'La Suisse' has agreed to allow persons who are already retired to take out this insurance, provided that they are less than 70 years old and subject to their state of health (health questionnaire to be completed) and with a maximum insured amount set at 150,000 CHF. We therefore invite any retired persons interested in this insurance to consult the detailed terms and conditions, either on the Pension Fund's Web site (http://pensions.web.cern.ch/pensions) or contacting to the Administration of the Fun...
-
Performance of Mutual Funds In INDIA: 2000 - 2006.
Kabra, Krishna
2006-01-01
Numerous scholarly researches have been carried out to evaluate the performance of mutual funds. These researches may differ in time period but most studies conclude that mutual funds on average have failed to outperform the market and therefore the efficient market hypothesis holds good. This research is carried out to evaluate the performance of 20 surviving diversified equity growth mutual funds for the period of 6 years from July 2000 to June 2006. The data of the fund is collected on Mon...
-
Seasonal asset allocation: Evidence from mutual fund flows
Kamstra, Mark J.; Kramer, Lisa A.; Levi, Maurice D.; Wermers, Russ
2013-01-01
Over the past 30 years, mutual funds have become the dominant vehicle through which individual investors prepare for retirement via defined contribution plans. Further, money market mutual funds, which hold $2.7 trillion as of September 2013, are now a major part of the cash economy in the U.S. Accordingly, the flow of money to and from different mutual fund categories (e.g., equities vs. money funds) increasingly reflects the sentiment or risk aversion of the general population. In this stud...
-
Souverinity Wealth Funds (Swfs): Kapitalisme Baru oleh Negara?
-, Ambarwati
2011-01-01
A sovereign wealth funds (SWFs) is a state-owned investment fund composed of financial assets such as stocks, bonds, property, precious metals or other financial instruments. Its invest globally and have been around for decades but since 2000, the number of sovereign wealth funds has increased dramatically. This article try to understand what is SWFs, Why does a nation need SWFs, and try to understand the position of SWFs in the global financial market. Key words: sovereign wealth funds a...
-
GOVERNING BOARD OF THE PENSION FUND
2001-01-01
The Governing Board of the Pension Fund held its ninety-ninth meeting on 6 March. On that occasion, it examined the assets-liabilities management report presented by Professor Guus E. Boender and Mr H. Steehouwer of the firm ORTEC of Rotterdam. The first part of the presentation of the report consisted of a general introduction to the principles of an assets-liabilities management study, its mechanisms and its goals. Professor Boender particularly underlined the importance of such studies which are based on a probabilistic approach to determine the trend in the long-term financial position of a pension fund in a dynamic context. For bodies responsible for ensuring that the prerequisites for a balanced pension fund exist, the assets-liabilities management study provides the opportunity, on the basis of a large number of financial scenarios, to assess the risks of insufficient asset cover to meet a pension fund's long-term commitments and to identify measures for remedying it. The second part of the presentatio...
-
Governing Board of the Pension Fund
2006-01-01
The Governing Board of the Pension Fund held its 143rd meeting on 11 April 2006. The Chairman of the Governing Board, Professor F. Ferrini, reported on the meetings of the CERN Finance Committee and Council on 15 and 16 March. On the recommendation of the Finance Committee, the CERN Council had approved the amendments to Administrative Circular No. 14 (Protection of the members of the personnel against the financial consequences of illness, accident and disability) and the resulting amendments to the Rules and Regulations of the Pension Fund. The new provisions will enter into force on 1st July 2006. Professor Ferrini also underlined that the Finance Committee had taken note of a document prepared by the CERN Management regarding the Organization's debt to the Pension Fund. Given that the Organization's debt to the Pension Fund has grown constantly over the last twenty years, and that it represents a burden on the Laboratory's future budgets, the Management wishes to reimburse the debt as rapidly as possible...
-
Governing Board of the Pension Fund
2007-01-01
All members and beneficiaries of the Pension Fund are invited to attend the Annual General Meeting to be held in the CERN Main Auditorium on Thursday 8 November 2007 at 2 p.m. The Agenda comprises: 1.\tOpening Remarks (F. Ferrini) 2.\tResults and presentation of the Annual Report 2006 (C. Cuénoud) (Copies of the 2006 Report are available from Departmental secretariats). 3.\tNew Governance of the Pension Fund (D. Duret) 4.\tQuestions from members and beneficiaries Persons wishing to ask questions are encouraged to submit them in writing in advance, where possible, to Mr C. Cuénoud, Administrator of the Fund. 5.\tConclusions (F. Ferrini) As usual, participants are invited to drinks after the Meeting. NB The minutes of the 2006 General Meeting are available from the Administration of the Fund (tel.(+ 41 22) 767 27 42; e-mail Sophia.Revol@cern.ch)
-
Governing Board of the Pension Fund
2007-01-01
All members and beneficiaries of the Pension Fund are invited to attend the Annual General Meeting to be held in the CERN Main Auditorium on Thursday 8 November 2007 at 2 p.m. The Agenda comprises: 1.\tOpening Remarks (F. Ferrini) 2.\tResults and presentation of the Annual Report 2006 (C. Cuénoud) (Copies of the 2006 Report are available from Departmental secretariats). 3.\tNew Governance of the Pension Fund (D. Duret) 4.\tQuestions from members and beneficiaries Persons wishing to ask questions are encouraged to submit them in writing in advance, where possible, to Mr C. Cuénoud, Administrator of the Fund. 5.\tConclusions (F. Ferrini) As usual, participants are invited to drinks after the Meeting. NB The minutes of the 2006 General Meeting are available from the Administration of the Fund (tel. + 41 22 767 27 42; e-mail Sophia.Revol@cern.ch)
-
Governing Board of the Pension Fund
2004-01-01
All members and beneficiaries of the Pension Fund are invited to attend the Annual General Asssembly to be held in the CERN Auditorium on Wednesday 6 October 2004 at 14.30 hrs The Agenda comprises: Opening Remarks (J. Bezemer) Results and presentation of the Annual Report 2003, and global situation of provident institutions (C. Cuénoud) Copies of the 2003 Report are available from departmental secretariats. The 2004 Actuarial Study (J.-P. Matheys) Questions from members and beneficiaries Persons wishing to ask questions are encouraged to submit them, where possible, in writing in advance, addressed to Mr C. Cuénoud, Administrator of the Fund. Conclusions (J. Bezemer) As usual, participants are invited to drinks after the assembly. NB The minutes of the 2003 General Assembly are available from the Administration of the Fund (tel.(+4122)767 27 42; e-mail Sophia.Revol@cern.ch) SOME ASPECTS OF THE FUND'S ACTIVITIES IN 2003 The Governing Board (at 31 December 2003) Members Appointed by J. Be...
-
GOVERNING BOARD OF THE PENSION FUND
2000-01-01
The Governing Board of the Pension Fund held its ninety-first meeting on 1st February 2000. A special morning session was devoted to questions concerning the asset allocation of pension funds. This subject was presented by J.-F. Boulier, research and management director at Sinopia in Paris, a subsidiary of the Crédit Commercial de France. Mr Boulier first presented the general context surrounding pension funds in Europe. He underlined the significant differences between the various European countries in the development of pension funds and their effects on the financial markets. He also addressed the long-term profitability of the different types of investment and, in the same connection, the essential role played by the time horizon inequity investments in not only achieving a positive real return but also exceeding the results of the other forms of investment. The last part of his presentation covered management strategies and the impact of an improvement in performance on the technical balance o...
-
Use of target-date funds in 401(k) plans, 2007.
Copeland, Craig
2009-03-01
WHAT THEY ARE: Target-date funds (also called "life-cycle" funds) are a type of mutual fund that automatically rebalances its asset allocation following a predetermined pattern over time. They typically rebalance to more conservative and income-producing assets as the participant's target date of retirement approaches. WHY THEY'RE IMPORTANT AND GROWING: Of the 401(k) plan participants in the EBRI/ICI 401(k) database who were found to be in plans that offeredtarget-date funds, 37 percent had at least some fraction of their account in target-date funds in 2007. Target-date funds held about 7 percent of total assets in 401(k) plans and the use of these funds is expected to increase in the future. The Pension Protection Act of 2006 made it easier for plan sponsors to automatically enroll new workers in a 401(k) plan, and target-date funds were one of the types of approved funds specified for a "default" investment if the participant does not elect a choice. BRI/ICI 401(K) DATABASE: This study uses the unique richness of the data in the EBRI/ICI Participant-Directed Retirement Plan Data Collection Project, which has almost 22 million participants, to examine the choices and characteristics of participants whose plans offer target-date funds. EFFECT OF AGE, SALARY, JOB TENURE, AND ACCOUNT BALANCE: Younger workers are significantly more likely to invest in target-date funds than are older workers: Almost 44 percent of participants under age 30 had assets in a target-date fund, compared with 27 percent of those 60 or older. Target-date funds appeal to those with lower incomes, little time on the job, and with few assets. On average, target-date fund investors are about 2.5 years younger than those who do not invest in target-date funds, have about 3.5 years less tenure, make about $11,000 less in salary, have $25,000 less in their account, and are in smaller plans. EFFECT OF AUTOMATIC ENROLLMENT: While the EBRI/ICI database does not contain specific information on whether
-
Fate of manuscripts rejected by a non-English-language general medical journal
DEFF Research Database (Denmark)
Vinther, Siri; Rosenberg, Jacob
2011-01-01
Objective The objective of this study was to determine whether, where and when manuscripts were published following rejection by the Journal of the Danish Medical Association, a general medical journal published in Danish. Similar previous studies have focused on specialty/subspecialty journals...... evaluated. Results Of 198 rejected manuscripts, 21 (10.6%) were eventually published after a median of 685 days (range 209-1463). The majority of these were original research, published in English-language specialty/subspecialty journals. The median number of citations per article was 2-3 (IQR 0...... translation could be a barrier for resubmitting to English-language journals with larger readerships, thus hindering the dissemination of knowledge to the international community....
-
Estimation of skill of Russian mutual fund managers
Parshakov, Petr
2015-01-01
Our work is focused on Russian mutual funds managers’ skills versus luck estimating. Using bootstrap procedure we build Jensen’s alpha density for each fund. We find that only 5% of Russian equity mutual funds do have skills (in contrast to luck) to outperform the benchmark.
-
Financing higher education in South Africa: Public funding ...
African Journals Online (AJOL)
controversy. The article discusses these funding challenges. It argues that the current higher education funding conundrum will hamstring the achievement of the important higher education policy goals articulated in the National Plan on Higher Education. The article finally argues for a shift towards a redistributive funding ...
-
Investor protection : towards additional EU regulation of investment funds?
Wegman, Hanna Elisabeth
2016-01-01
The expansion of the fund industry has been one of the most notable trends in the financial markets of recent years. Not only has the demand for funds among EU investors grown, but both the number and types of investment funds also continue to increase. Since investment funds available in the EU can
-
New Solutions to the Funding Dilemma of Technology Startups
Directory of Open Access Journals (Sweden)
Ali Kousari
2011-05-01
Full Text Available This article explores the current funding challenges facing technology startups and describes new models based on smaller investments and collective action. First, the advantages and disadvantages of traditional startup funding models are presented, with an emphasis on venture capital and angel investment. Next, an overview of existing seed funds, or seed accelerators, shows how entrepreneurs can leverage this approach to access subsequent rounds of funding and create successful ventures. Then, an overview of crowd funding is provided, including examples of companies that have adopted this approach to funding startups and their founders. Finally, the article presents the basis of a new approach that uses crowd funding as means of attracting investors to collectives. In these business ecosystems, startups are exposed to less risk and investors can benefit from attractive returns by investing in these promising startups.
-
Longitudinal analysis of mutual fund performance
Ter Horst, J.R.
1998-01-01
Many different motivations for investing in mutual funds have been provided in the literature, including the claim that managers of mutual funds have special abilities that can be used to outperform the market. Testing of the validity of these claims is complicated by two facts. First, the expected
-
Performance Persistence of Dutch Pension Funds
Huang, Xiaohong; Mahieu, R.
2012-01-01
This paper studies the investment performance of pension funds with a focus on their ability in implementing their intended investment strategy. We use a sample of Dutch industry-wide pension funds, which are obliged by law to report their investment performance according to the so-called z-score.
-
Raising private investment funds for museums
van der Burg, Tsjalle; Dolfsma, W.; Wilderom, Celeste P.M.
2004-01-01
The authors propose the notion of an "arts fund", a publicly traded investment fund for the purpose of acquiring increasingly costly art works to be displayed in museums. Public as well as private museums stand to benefit greatly from such an approach to financially supporting the arts. A
-
20 CFR 638.301 - Funding procedures.
2010-04-01
... 20 Employees' Benefits 3 2010-04-01 2010-04-01 false Funding procedures. 638.301 Section 638.301 Employees' Benefits EMPLOYMENT AND TRAINING ADMINISTRATION, DEPARTMENT OF LABOR JOB CORPS PROGRAM UNDER TITLE IV-B OF THE JOB TRAINING PARTNERSHIP ACT Funding, Site Selection, and Facilities Management § 638...
-
31 CFR 281.4 - Guaranty funds.
2010-07-01
... 31 Money and Finance: Treasury 2 2010-07-01 2010-07-01 false Guaranty funds. 281.4 Section 281.4 Money and Finance: Treasury Regulations Relating to Money and Finance (Continued) FISCAL SERVICE, DEPARTMENT OF THE TREASURY FINANCIAL MANAGEMENT SERVICE FOREIGN EXCHANGE OPERATIONS § 281.4 Guaranty funds...
-
7 CFR 761.209 - Loan funds for beginning farmers.
2010-01-01
... 7 Agriculture 7 2010-01-01 2010-01-01 false Loan funds for beginning farmers. 761.209 Section 761... Funds to State Offices § 761.209 Loan funds for beginning farmers. Each fiscal year, the Agency reserves a portion of direct and guaranteed FO and OL loan funds for beginning farmers in accordance with...
-
Categorical Funds: The Intersection of School Finance and Governance
Smith, Joanna; Gasparian, Hovanes; Perry, Nicholas; Capinpin, Fatima
2013-01-01
How a state chooses to design its system of funding schools is ultimately a question of education governance, determining who--state policymakers, school districts, or school principals--gets to make the decisions about how and where funding is spent. States have two primary ways of funding schools: the foundation, or base funding that is intended…
-
Morrell, Liz; Wordsworth, Sarah; Fu, Howell; Rees, Sian; Barker, Richard
2017-08-30
The Scottish Medicines Consortium evaluates new drugs for use in the National Health Service in Scotland. Reforms in 2014 to their evaluation process aimed to increase patient access to new drugs for end-of-life or rare conditions; the changes include additional steps in the process to gain further information from patients and clinicians, and for revised commercial agreements. This study examines the extent of any impact of the reforms on funding decisions. Data on the Scottish Medicines Consortium's funding decisions during 24 months post-reform were extracted from published Advice, for descriptive statistics and thematic analysis. Comparison data were extracted for the 24 months pre-reform. Data on decisions for England by the National Institute for Clinical and Health Excellence for the same drugs were extracted from published Technology Appraisals. The new process was used by 90% (53/59) of cancer submissions. It is triggered if the initial advice is not to recommend, and this risk-of-rejection level is higher than in the pre-period. Thirty-eight cancer drugs obtained some level of funding through the new process, but there was no significant difference in the distribution of decision types compared to the pre-reform period. Thematic analysis of patient and clinician input showed no clear relationship between issues raised and funding decision. Differences between SMC's and NICE's definitions of End-of-Life did not fully explain differences in funding decisions. The Scottish Medicines Consortium's reforms have allowed funding of up to 38 cancer drugs that might previously have been rejected. However, the contribution of specific elements of the reforms to the final decision is unclear. The process could be improved by increased transparency in how the non-quantitative inputs influence decisions. Some disparities in funding decisions between England and Scotland are likely to remain despite recent process convergence.
-
Performance of Mutual Funds in India: (2002-2006)
Saboo, Manish
2006-01-01
There has been many studies in the past on performance of Mutual Funds in comparison to the market. These studies might differ in time and the market under study but most of them concluded that on an average, Mutual Funds have failed to outperform the market and thus the Efficient Market Hypothesis holds good. This research was based on performance of 25 mutual funds for a period of almost 5 years on monthly basis. Funds were evaluated using measures like Sharpe ratio, Treynor ratio, Jense...
-
Workforce Training and Economic Development Fund: 2014 Annual Progress Report
Iowa Department of Education, 2014
2014-01-01
The Workforce Training and Economic Development (WTED) Fund was established in 2003 as part of the Grow Iowa Values Fund and is currently funded through the Iowa Skilled Worker and Job Creation Fund. This fund has become an important source of financing for community college new program innovation, development, and capacity building, particularly…
-
Revisiting Mutual Fund Performance Evaluation
Angelidis, Timotheos; Giamouridis, Daniel; Tessaromatis, Nikolaos
2012-01-01
Mutual fund manager excess performance should be measured relative to their self-reported benchmark rather than the return of a passive portfolio with the same risk characteristics. Ignoring the self-reported benchmark introduces biases in the measurement of stock selection and timing components of excess performance. We revisit baseline empirical evidence in mutual fund performance evaluation utilizing stock selection and timing measures that address these biases. We introduce a new factor e...
-
Kapilashrami, Anuj; Hanefeld, Johanna
2014-01-01
As we enter the fourth decade of HIV and AIDS, sustainability of treatment and prevention programmes is a growing concern in an environment of shrinking resources. The Global Fund to Fight AIDS, Tuberculosis and Malaria (GFATM) will be critical to maintaining current trajectories of scale-up and ultimately, ensuring access to HIV treatment and prevention for people in low/middle-income countries. The authors' prior research in India, Zambia and South Africa contributed evidence on the politics and impact of new institutional and funding arrangements, revealing a 'rhetoric-reality gap' in their impact on health systems, civil society participation, and achievement of population health. With its new funding strategy and disbursement model, the Fund proposes dramatic changes to its approach, emphasising value for money, greater fund predictability and flexibility and more proactive engagement in recipient countries, while foregrounding a human rights approach. This paper reviews the Fund's new strategy and examines its potential to respond to key criticisms concerning health systems impact, particularly the elite nature of this funding mechanism that generates competition between public and private sectors and marginalises local voices. The authors analyse strategy documents against their own research and published literature and reflect on whether the changes are likely to address challenges faced in bringing HIV programmes to scale and their likely effect on AIDS politics.
-
On the Importance of Mutual Fund Families in Emerging Markets
Ekholm, Anders; Pasternack, Daniel; Sandvall, Thomas
2000-01-01
This study contributes to the mutual fund literature by looking at performance persistence on a fund family level, allowing for individual equity, bond and balanced funds to be included under single family umbrellas. The study is conducted on the emerging Finnish mutual fund market, an environment in which the importance of superior fund family teams is likely to be accentuated. Using both non–parametric and parametric tests we find robust evidence of performance persistence for the fund fami...
-
Long-Short Fund Performance Evaluation in Brazil
Directory of Open Access Journals (Sweden)
Fábio Augusto Reis Gomes
2010-12-01
Full Text Available Long-Short Funds should be able to provide positive returns, above the opportunity cost and independent of market conditions, once they can have both long and short positions. For this reason, this study aims to evaluate the Long-Short funds in Brazil, assessing whether customers of these products are buying just market returns (Beta, or if there is excess return (alpha independent of the stock market. Analyzing a sample of 76 funds from January 2, 2001 to March 31, 2008, using daily and monthly data, we found evidence that a small number of funds are able to generate excess return. Besides, this excess does not exhibit persistence. Finally, there is little or no evidence for market timing.
-
THE ALLOCATION OF EUROPEAN FUNDS IN ROMANIA
Directory of Open Access Journals (Sweden)
Ana Monica POP
2014-04-01
Full Text Available In this paper we try to analyze the extent to which economic and social cohesion of the enlarged European Union in order to develop a harmonious, balanced and sustainable community has been achieved with the Funds, the European Investment Bank (EIB and other financial instruments and how Romania attracts or not such funds. We analyzed using the statistical data, the absorption and implementation of funds in Romania. Consequently, we present only the results. Conclusions outlined the reducing of the economic, social and territorial disparities which have arisen particularly in regions with developmental delays and in relation to economic and social reorganization. The most important benefits of funding (in general are the growth, the competitive advantage, the employment and improvement of the environment.
-
The World Banks' BioCarbon Fund
Energy Technology Data Exchange (ETDEWEB)
Noble, I.
2003-03-01
In November 2002 the World Bank launched the BioCarbon Fund, a public/private initiative to provide finance to projects that store carbon in vegetation and soils ('sinks') while helping to reverse land degradation, conserve biodiversity and improve the livelihoods of local communities. The Fund will seek projects to sequester or conserve carbon in non-Annex I countries and in countries in transition. Sinks may be the only option for poor nations with small energy to benefit from the carbon finance business. The Fund will include a portion of assets based on reductions in emissions such as substitution of biofuels for fossil fuels. The author Ian Noble of the World Bank, is chairman of the BioCarbon Fund Technical Advisory Committee.
-
Reforming Long-Term Care Funding in Alberta.
Crump, R Trafford; Repin, Nadya; Sutherland, Jason M
2015-01-01
Like many provinces across Canada, Alberta is facing growing demand for long-term care. Issues with the mixed funding model used to pay long-term care providers had Alberta Health Services concerned that it was not efficiently meeting the demand for long-term care. Consequently, in 2010, Alberta Health Services introduced the patient/care-based funding (PCBF) model. PCBF is similar to activity-based funding in that it directly ties the complexity and care needs of long-term care residents to the payment received by long-term care providers. This review describes PCBF and discusses some of its strengths and weaknesses. In doing so, this review is intended to inform other provinces faced with similar long-term care challenges and contemplating their own funding reforms.
-
45 CFR 2531.20 - Funding priorities.
2010-10-01
... priorities. The Corporation may choose to set priorities (and to periodically revise such priorities) that... given fiscal year. In setting these priorities, the Corporation will seek to concentrate funds on those... 45 Public Welfare 4 2010-10-01 2010-10-01 false Funding priorities. 2531.20 Section 2531.20 Public...
-
Performance Persistence of Dutch Pension Funds
Huang, Xiaohong; Mahieu, Ronald
2010-01-01
This paper studies the investment performance of pension funds with a focus on their ability in implementing the investment strategy. We use a sample of Dutch industry-wide pension funds, which are obliged by law to report their investment performance according to the so-called z-score. The z-score
-
Student Projects as a Funding Source
Henson, Kerry L.
2010-01-01
Prompted by restricted funding for a lab which supported student software development work on real-world projects, a contribution program was established to facilitate monetary support from the external clients. The paper explores the relationships between instructor, students and client and how a funding component can affect these ties.…
-
Funding | IDRC - International Development Research Centre
International Development Research Centre (IDRC) Digital Library (Canada)
2018-09-30
IDRC funds projects that aim to bring employment, food security, health, peace, and prosperity to developing regions of the world. We offer grants, funding, and awards to researchers and institutions to find ... Call for: Applications ... citizen of a developing country with a work permit in Canada valid until September 30, 2018;.
-
The funding landscape for HIV in Asia and the Pacific
DEFF Research Database (Denmark)
Stuart, Robyn Margaret; Lief, Eric; Donald, Braedon
2015-01-01
-Pacific region between 2004 and 2013, we obtained funding data from the Organisation for Economic Co-operation and Development Creditor Reporting System database. Where possible, we checked these amounts against the funding data available from government aid agencies. Estimates of multilateral ODA financing...... for HIV/AIDS were based on the country allocations announcement by the Global Fund to Fight AIDS, Tuberculosis and Malaria (the Global Fund) for the period 2014 to 2016. RESULTS: Countries in the Asia-Pacific region receive the largest share of aid for HIV from the Global Fund. Bilateral funding for HIV......, but the United States is the bilateral donor providing the greatest amount of assistance in the region. Funding from the Global Fund has increased consistently since 2005, reaching a total of US$1.2 billion for the Asia-Pacific region from 2014 to 2016. CONCLUSIONS: Even with Global Fund allocations, countries...
-
50 CFR 600.125 - Budgeting, funding, and accounting.
2010-10-01
... 50 Wildlife and Fisheries 8 2010-10-01 2010-10-01 false Budgeting, funding, and accounting. 600... Councils § 600.125 Budgeting, funding, and accounting. Link to an amendment published at 75 FR 59150, Sept... Budgeting, funding, and accounting. (a) Council grant activities are governed by 15 CFR part 14 (Uniform...
-
Pension Fund Asset Allocation and Liability Discount Rates
Andonov, Aleksandar; Bauer, Rob; Cremers, Martijn
2017-01-01
The unique regulation of U.S. public pension funds links their liability discount rate to the expected return on assets, which gives them incentives to invest more in risky assets in order to report a better funding status. Comparing public and private pension funds in the United States, Canada, and
-
Liquidity risk and contagion for liquid funds
Darolles , Serge; Dudek , Jeremy; Le Fol , Gaëlle
2014-01-01
Fund managers face liquidity problems but they have to distinguish the market liquidity risk implied by their assets and the funding liquidity risk. This latter is due to both the liquidity mismatch between assets and liabilities and the redemption risk due to the possible outflows from clients. The main contribution of this paper is the analysis of contagion looking at common market liquidity problems to detect funding liquidity problems. Using the CDS Bond Spread basis as a liquidity indica...
-
Performance of Mutual Funds in India 2003-2008
Raizada, Shantanu
2008-01-01
Many studies have been conducted in the past on the performance of Mutual Funds in comparison to the market index. These studies may differ in their time period, but most of them concluded that on an average the Mutual Funds failed to outperform the market thus the Efficient Market Hypothesis holds good. This research was based on the performance of 20 open ended equity diversified growth Mutual Funds for a period of 5 years from April 2003 to March 2008 and was compared to the BSE 500. Funds...
-
Evaluation of Performance of Investment Funds Based on Decision Models (DEA
Directory of Open Access Journals (Sweden)
Alireza Samet
2016-12-01
Full Text Available Selection of a suitable investment funds is very important from investors' point of view and may have a significant impact on the profit or loss of the funds. Therefore, evaluation of performance of investment funds to choose the most suitable fund will be given special emphasis. One of the new techniques for evaluating the performance of the Funds based on efficiency is the Data Envelopment Analysis technique. Accordingly, the present study is aimed to analyze and evaluate the performance of investment Funds in capital market of Iran, using the technique of efficiency evaluation through data envelopment analysis technique (DEA. This research is a descriptive - applicable study and to analyze the efficiency and effectiveness, 53 investment funds in the capital market of Iran in 2013 were considered as the sample. To analyze the efficiency of these funds, data envelopment analysis (DEA is used. Research findings showed that in 2013, of a total of 53 examined funds, 11 funds were in the efficiency situation and the other 42 funds were in a state of inefficiency. Also the reference funds and virtual composited funds of all inefficient funds were evaluated.
-
STRUCTURAL FUNDS ABSORPTION GROWTH BY IMPROVING THEIR MANAGEMENT
Directory of Open Access Journals (Sweden)
Pautu Sorina
2012-12-01
Full Text Available Grant project management is now a trend in the institutions of various types in Romania due to the opportunities offered by the EU through structural Instruments. Absorbing European funds is a challenge for Romania. The Managing Authority for Structural Instruments, together with the subordinated institutions present deficiencies in their coordination and implementation, the effect being a slow process of absorption of structural and cohesion funds. Taking action to enhance absorption of Structural and Cohesion Funds was done later; some measures are neither effective nor efficient. One of the major problems in implementing the Structural Funds is the continuous change of their national legislation. Therefore it is necessary to take measures to increase the absorption of structural funds and also the national adoption of a stable legal framework applicable to Structural Funds, guides of the applicant and clearly established project calls, without any latest changes, creating a transparent system of project proposals assessment and results communication of assessments to their beneficiaries, the payments required by the reimbursement requests within 45 days specified in the contract and not just their validation, terms compliance in approval notifications and addenda to the contract funding, proper training of the personnel from the intermediate organizations and linking information provided by their staff.
-
12 CFR 9.11 - Investment of fiduciary funds.
2010-01-01
... 12 Banks and Banking 1 2010-01-01 2010-01-01 false Investment of fiduciary funds. 9.11 Section 9.11 Banks and Banking COMPTROLLER OF THE CURRENCY, DEPARTMENT OF THE TREASURY FIDUCIARY ACTIVITIES OF NATIONAL BANKS Regulations § 9.11 Investment of fiduciary funds. A national bank shall invest funds of a...
-
17 CFR 201.1100 - Creation of Fair Fund.
2010-04-01
... 17 Commodity and Securities Exchanges 2 2010-04-01 2010-04-01 false Creation of Fair Fund. 201... PRACTICE Fair Fund and Disgorgement Plans § 201.1100 Creation of Fair Fund. In any agency process initiated... requiring the payment of disgorgement by a respondent and also assessing a civil money penalty against that...