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Money in motion: Dynamic portfolio choice in retirement

Horneff, Wolfram J.; Maurer, Raimond H.; Mitchell, Olivia S. - Center for Financial Studies - 2007

equity premium and longevity insurance in her retirement portfolio. Even without bequests, she will not fully annuitize …

Persistent link: https://www.econbiz.de/10010958527

Money-back guarantees in individual pension accounts: Evidence from the German pension reform

Maurer, Raimond H.; Schlag, Christian - Center for Financial Studies - 2002

(static asset allocation), and some type of portfolio insurance. We use a simulation methodology to compare hedging …

Persistent link: https://www.econbiz.de/10010986377

The subsidy to infrastructure as an asset class

Andonov, Aleksandar; Kräussl, Roman; Rauh, Joshua - 2018

We investigate the characteristics of infrastructure as an asset class from an investment perspective of a limited partner. While non U.S. institutional investors gain exposure to infrastructure assets through a mix of direct investments and private fund vehicles, U.S. investors predominantly...

Persistent link: https://www.econbiz.de/10011903850

A greenium for the next generation EU green bonds: Analysis of a potential green bond premium and its drivers

Hinsche, Isabelle Cathérine - 2021

As part of the Next Generation EU (NGEU) program, the European Commission has pledged to issue up to EUR 250 billion of the NGEU bonds as green bonds, in order to confirm their commitment to sustainable finance and to support the transition towards a greener Europe. Thereby, the EU is not only...

Persistent link: https://www.econbiz.de/10012669299

Institutional investors in Germany: Insurance companies and investment funds

Maurer, Raimond H. - Center for Financial Studies - 2003

of risk, return and maturity. The major types of institutional investors in Germany are insurance companies and …

Persistent link: https://www.econbiz.de/10010958726

Institutional Investors in Germany: Insurance Companies and Investment Funds

Maurer, Raimond - Center for Financial Studies - 2003

of risk, return and maturity. The major types of institutional investors in Germany are insurance companies and …

Persistent link: https://www.econbiz.de/10005176461

Lifecycle impacts of the financial and economic crisis on household optimal consumption, portfolio choice, and labor supply

Chai, Jingjing; Maurer, Raimond H.; Mitchell, Olivia S.; … - Center for Financial Studies - 2011

The direct financial impact of the financial crisis has been to deal a heavy blow to investment-based pensions; many workers lost a substantial portion of their retirement saving. The financial sector implosion produced an economic crisis for the rest of the economy via high unemployment and...

Persistent link: https://www.econbiz.de/10010958546

Performance and market share: Evidence from the German mutual fund industry

Krahnen, Jan Pieter; Schmid, Frank A.; Theissen, Erik - Center for Financial Studies - 1997

In this paper we analyze the relation between fund performance and market share. Using three performance measures we first establish that significant differences in the risk-adjusted returns of the funds in the sample exist. Thus, investors may react to past fund performance when making their...

Persistent link: https://www.econbiz.de/10010958570

Betting on death and capital markets in retirement: A shortfall risk analysis of life annuities versus phased withdrawal plans

Dus, Ivica; Maurer, Raimond H.; Mitchell, Olivia S. - Center for Financial Studies - 2004

How might retirees consider deploying the retirement assets accumulated in a defined contribution pension plan? One possibility would be to purchase an immediate annuity. Another approach, called the phased withdrawal strategy in the literature, would have the retiree invest his funds and then...

Persistent link: https://www.econbiz.de/10010986362

Does family matter? Venture capital cross-fund cash flows

Kräussl, Roman; Rinne, Kalle; Sunc, Huizhu - 2023

-fund cash flows (CFCFs), a liquidity support mechanism provided by matching distributions and capital calls within a VC fund … family. The dynamics of this mechanism coincide with the sensitivity of different stage projects owing to market liquidity … conditions. We find that the early-stage funds demand relatively more intra-family CFCFs than later-stage funds during liquidity …

Persistent link: https://www.econbiz.de/10013557355