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Problems of Formation and Evaluation of Strategies for Portfolio Investment of Pension Reserves, Accruals and Collective Investments in Russia
[Проблемы Формирования И Оценки Результативности Стратегий Портфельного Инвестирования Пенсионных Резервов, Накоплений И Коллективных Инвестиций В России]

Author

Listed:
  • Akshentseva, Ksenya (Акшенцева, Ксения)

    () (Russian Presidential Academy of National Economy and Public Administration (RANEPA))

  • Abramov, Alexander (Абрамов, Александр)

    () (Russian Presidential Academy of National Economy and Public Administration (RANEPA))

  • Chernovа, Maria (Чернова, Мария)

    () (Russian Presidential Academy of National Economy and Public Administration (RANEPA))

Abstract

The present study examined ways to improve the efficiency of portfolio management of pension savings in the Russian Federation. It examined the factors affecting the real return of pension portfolios in different countries; The role of a more liberal requirements on the composition and structure of the portfolio of pension savings, as well as anti-inflationary policy in raising the real rate of return on investment. For the first time on the example of the portfolios of pension savings and mutual funds in Russia is a key role in the profitability of these portfolios factor asset allocation compared with the strategies of active management. Separately considered determinants of stiffness requirements on the composition and structure of assets of pension savings in the different countries, and assess the feasibility of mitigating these requirements for pension funds and asset management companies.

Suggested Citation

  • Akshentseva, Ksenya (Акшенцева, Ксения) & Abramov, Alexander (Абрамов, Александр) & Chernovа, Maria (Чернова, Мария), 2015. "Problems of Formation and Evaluation of Strategies for Portfolio Investment of Pension Reserves, Accruals and Collective Investments in Russia
    [Проблемы Формирования И Оценки Результативности Страт
    ," Published Papers mn24, Russian Presidential Academy of National Economy and Public Administration.
  • Handle: RePEc:rnp:ppaper:mn24
    as

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    References listed on IDEAS

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    1. Kevin L. Kliesen & Daniel L. Thornton, 2011. "The federal debt: what’s the source of the increase in spending?," Economic Synopses, Federal Reserve Bank of St. Louis.
    2. Admati, Anat R & Pfleiderer, Paul, 1997. "Does It All Add Up? Benchmarks and the Compensation of Active Portfolio Managers," The Journal of Business, University of Chicago Press, vol. 70(3), pages 323-350, July.
    3. Oriol Carreras & Simon Kirby & Iana Liadze & Rebecca Piggott, 2016. "Fiscal Policy Spillovers," National Institute of Economic and Social Research (NIESR) Discussion Papers 468, National Institute of Economic and Social Research.
    4. Harry Markowitz, 1952. "Portfolio Selection," Journal of Finance, American Finance Association, vol. 7(1), pages 77-91, March.
    5. Aglietta, Michel & Brière, Marie & Rigot, Sandra & Signori, Ombretta, 2012. "Rehabilitating the role of active management for pension funds," Journal of Banking & Finance, Elsevier, vol. 36(9), pages 2565-2574.
    6. Benjamin Lev, 2002. "Book Reviews," Interfaces, INFORMS, vol. 32(4), pages 86-89, August.
    7. Margaret Mead, 1985. "Government Reports," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 18(1), pages 46-47.
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    More about this item

    Keywords

    portfolio management; pension savings; pension funds; collective investments;

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