model of the dynamics of a private equity fund. Our stochastic model of a private equity fund consists of two independent … stages: the stochastic model of the capital drawdowns and the stochastic model of the capital distributions over a fund … fund. …

. As a practical example, the professional competition between fund managers is considered. To explore how different …

Recent research reveals that hedge fund returns exhibit a range of different,possibly non-linear pay-off patterns. It … surplus connectshedge fund manager's incentive schemes with the idea of mental accounting as proposed inrecent behavioral …

sovereign wealth fund. We show that if the central bank manages its foreign asset holdings in order to meet balance of payments … holding safer foreign assets. In contrast, if the sovereign wealth fund, acting on behalf of the Treasury, maximizes the …

A fund's performance is usually compared to the performance of an index or other funds. If a fund trails the benchmark …, the fund manager is often replaced. We argue that this may lead to excessive risk-taking if fund managers differ in … ability and have the opportunity to take excessive risk. To match the benchmark, fund managers may increase the risk of their …