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Pension Funds and Emerging Markets
Author(s) -
ChanLau Jorge A.
Publication year - 2005
Publication title -
financial markets, institutions and instruments
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.386
H-Index - 23
eISSN - 1468-0416
pISSN - 0963-8008
DOI - 10.1111/j.0963-8008.2005.00081.x
Subject(s) - global assets under management , pension , emerging markets , business , asset allocation , institutional investor , passive management , asset (computer security) , fund of funds , investment (military) , capital market , finance , financial system , portfolio , market liquidity , corporate governance , computer security , politics , computer science , political science , law
This paper focuses on the investment behavior of pension funds in developed and emerging market countries. First, it analyzes the main determinants of the emerging market asset allocation of pension funds in developed countries. Second, it assesses how pension funds in emerging markets have contributed to the development of local securities markets. Third, it analyzes the determinants of pension funds’ investment performance. The paper concludes with a discussion of why the emerging market asset allocation of pension funds in developed countries is likely to increase and what the challenges faced by pension funds in emerging markets are.