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  7. Do Investment Regulations Compromise Pension Fund Performance?

Do Investment Regulations Compromise Pension Fund Performance?

Evidence from Latin America

Pulle Subrahmanya Srinivas, Jua Yermo
Livre broché | Anglais | Latin America and Caribbean Studies
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Description

'Draconian' regulations have created distortions in asset management, limited opportunities for diversification, and, as a consequence have hampered, the performance of pension funds. This volume shows that the return to retirement assets, expected replacement rates, and, hence, the net welfare gain from pension reform is lower under a draconian regulatory framework than under a more liberal pension fund investment regime. Important policy conclusions of the paper are that existing regulatory regimes should be liberalized as soon as possible to allow pension fund investments in a wider array of financial instruments and that regulations should require evaluation of pension fund performance against market benchmarks as opposed to exclusive focus on comparisons with industry averages. The paper also suggests a review of the current structure of the private pension fund industry in Latin America and an evaluation against alternatives in the light of actual performance experience.

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Contenu

Nombre de pages :
53
Langue:
Anglais
Collection :

Caractéristiques

EAN:
9780821344880
Date de parution :
01-05-99
Format:
Livre broché
Format numérique:
Trade paperback (VS)
Dimensions :
210 mm x 273 mm

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