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Can Yale Endowment Model Be Applied For Islamic Pension Fund?

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Listed:
  • Yunice Karina Tumewang

    (Durham University)

Abstract

This paper examines Yale Endowment model and proposes a modified investment model to achieve an investment objective of mainstream investors and to comply with Sharia principle. The proposed model utilizes Islamic CAPM to formulate the optimal asset allocation for Islamic pension fund’s portfolio. It will offer a strong investment strong which could be adopted by government to manage the Islamic pension fund and raise the awareness of society to see the great potential of Islamic pension fund in the future. Promoting an efficient and productive investment of pension-fund assets not only helps reaching Sustainable Development Goals (SDGs) by providing important sources of long-term finance for development, supporting financial inclusion and ensuring that poverty among the elderly is alleviated by a strong growth and resilience of income in retirement through pension systems that have broad coverage.

Suggested Citation

  • Yunice Karina Tumewang, 2018. "Can Yale Endowment Model Be Applied For Islamic Pension Fund?," Journal of Islamic Monetary Economics and Finance, Bank Indonesia, vol. 3(Special I), pages 99-124, May.
    • Handle: RePEc:idn:jimfjn:v:3:y:2018:i:specialissuef:p:99-124
    DOI: https://doi.org/10.21098/jimf.v3i0.787
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    References listed on IDEAS

    as
    1. Myers, Stewart C & Turnbull, Stuart M, 1977. "Capital Budgeting and the Capital Asset Pricing Model: Good News and Bad News," Journal of Finance, American Finance Association, vol. 32(2), pages 321-333, May.
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    Keywords

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    JEL classification:

    • I32 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Measurement and Analysis of Poverty
    • I31 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General Welfare, Well-Being
    • Z12 - Other Special Topics - - Cultural Economics - - - Religion

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