Optimal asset allocation for university endowment funds is very important in USA. The management of endowment funds is challenging due to the need of finding out the balance between providing adequate and stable spend...Optimal asset allocation for university endowment funds is very important in USA. The management of endowment funds is challenging due to the need of finding out the balance between providing adequate and stable spending for beneficiaries and growth of the portfolio. In this paper, the author address these allocation constraints in a dynamic framework, in which minimum subsistence levels are introduced in the objective function and derive explicit formulas for the optimal portfolio strategy.展开更多
The sustainable development of the endowment insurance fund is the most basic fulcrum to the healthy development of the pension insurance system.The sustainable development of Chinese endowment insurance fund, we must...The sustainable development of the endowment insurance fund is the most basic fulcrum to the healthy development of the pension insurance system.The sustainable development of Chinese endowment insurance fund, we must adhere to the ＂wide coverage, basic, multi-level, The basic principle of sustainable ＂. In order to achieve the security of endowment insurance fund, sustainable development should be adopted .The countermeasures are： firstly, the implementation of sustainable legal raising mode; secondly, to determine the reasonable payment level, expanding .Large endowment insurance coverage;thirdly, to implement the State Administration by main market managementPrivate management and sustainable.展开更多
文摘Optimal asset allocation for university endowment funds is very important in USA. The management of endowment funds is challenging due to the need of finding out the balance between providing adequate and stable spending for beneficiaries and growth of the portfolio. In this paper, the author address these allocation constraints in a dynamic framework, in which minimum subsistence levels are introduced in the objective function and derive explicit formulas for the optimal portfolio strategy.
文摘The sustainable development of the endowment insurance fund is the most basic fulcrum to the healthy development of the pension insurance system.The sustainable development of Chinese endowment insurance fund, we must adhere to the ＂wide coverage, basic, multi-level, The basic principle of sustainable ＂. In order to achieve the security of endowment insurance fund, sustainable development should be adopted .The countermeasures are： firstly, the implementation of sustainable legal raising mode; secondly, to determine the reasonable payment level, expanding .Large endowment insurance coverage;thirdly, to implement the State Administration by main market managementPrivate management and sustainable.
