Asset Management Standards: Corporate Governance for Asset by Otto Loistl

By Otto Loistl

Asset administration criteria are an important for development belief among traders and capital marketplace specialists. the problem of company governance has been thrown into the highlight through the disastrous cave in of Enron and the consequences for the undefined. The proposed criteria are proper for the complete fund undefined, regulators, prone of pension plans and portfolio managers. Produced in organization with the eu Federation of monetary Analysts Societies, this publication goals to supply a well-founded foundation for improvement of the content material of asset administration criteria within the united kingdom, the U.S. and the ecu. It includes a distinctive evaluate of the present place, outlines deliberate advancements and discusses underlying difficulties.

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Figure 4 shows a direct graphical comparison of historical and projected immigration levels for the EU, contrasting the 1990 figure with the projections for scenarios A to C: the figure of around 75% migrants in 2050 11 THE SCENARIO TODAY as a consequence of net immigration of around 700 million people between 1995 to 2050 (see above) for scenario C speaks for itself. 8% 0% 1990 Constant total population size Constant working population size Constant potential support ratio Figure 4: Proportion of migrants 45 to total population in 1990, and projected to 2050 for scenarios A to C (EU) x A potential alternative to high levels of immigration is an increase in the retirement age; 75 would be the desirable age in 2050 (see Table 5).

10 guarantee that a single wholesale market will function properly. 165 To harmonise the retail financial markets, the Commission thinks that the priority is to ensure a clear and generally accepted distinction between professional and non-professional investors. 166 The harmonisation efforts also envisage a greater level of coherence in the rules governing pension funds, life insurance and UCITS, which the Commission classifies as “largely interchangeable products”. At present, these products are subject to diverse regulatory requirements, as well as differing tax treatments.

X The saver must receive the following information at the time of closure: amount and distribution over time of the initial commission and selling costs, asset management costs, cost of switching to another product. x Continuing annual disclosure obligations to the insured persons: utilisation of contributions, capital accumulation, costs and revenues, as well as whether – and to what extent – ethical, social and ecological aspects are considered when using the contributions paid. 3. Deferred taxation:108 During the savings phase, payments of up to 4% of the income threshold for contribution assessment can be paid from untaxed income.

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