IDEAS home Printed from https://ideas.repec.org/a/agr/journl/v12(577)y2012i12(577)p23-36.html
   My bibliography  Save this article

The lessons of the crisis on pension funds portfolio management

Author

Listed:
  • Dan CONSTANTINESCU

    (Ecological University of Bucharest)

Abstract

Portfolio management in crisis conditions showed that major turbulence come from within the financial system. In such a context, a first answer to the investors (and pension funds make no exception) manifests itself through the growth of liquidity preferences. Recent studies have shown that monetary political shocks have a considerable effect over the dynamic and composition of the capital flows, with influences that reach the structure on categories of assets of the pension funds’ portfolio. For example, due to an interesting profile of the risk-profit ratio, listed private equity (LPE) funds are more and more attractive for the institutional investors, among which are the pension funds administrators. Last but not least, the existence of an insuring system of the participants’ contributions and/or benefits to the pension funds is extremely useful, considering that it is able to harmonize a large variety of interests.

Suggested Citation

  • Dan CONSTANTINESCU, 2012. "The lessons of the crisis on pension funds portfolio management," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania - AGER, vol. 0(12(577)), pages 23-36, December.
  • Handle: RePEc:agr:journl:v:12(577):y:2012:i:12(577):p:23-36
    as

    Download full text from publisher

    File URL: http://store.ectap.ro/articole/804.pdf
    Download Restriction: no

    File URL: http://www.ectap.ro/articol.php?id=804&rid=93
    Download Restriction: no

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:agr:journl:v:12(577):y:2012:i:12(577):p:23-36. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Marin Dinu). General contact details of provider: http://edirc.repec.org/data/agerrea.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.